{"id":422570,"date":"2023-07-18T13:45:40","date_gmt":"2023-07-18T13:45:40","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=422570"},"modified":"2023-07-18T14:00:00","modified_gmt":"2023-07-18T14:00:00","slug":"sui-price-prediction-where-is-the-next-support","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/sui-price-prediction-where-is-the-next-support","title":{"rendered":"SUI Price prediction \u2013 Where is the next support?"},"content":{"rendered":"

The price of Sui (SUI) has increased by 3.6% in the last 24 hours as of 11 am EST after declining by 1.6% in the last 30 days. <\/span>With the price at $0.739 today, where could the next support level be?<\/span><\/p>\n

Sui’s Past and Present Price Actions<\/h2>\n

For a better understanding of SUI’s performance since it joined the cryptocurrency market, glance through its past and current price actions and the price analysis from crypto experts. <\/span><\/p>\n

In the last 7 days, SUI gained 14.8%. Its 24-hour trading volume is up by 243.17%, recording over $461 million as of 11:13 am EST.<\/span><\/p>\n

SUI is Projecting a Potential Overbought Market<\/h3>\n
\"Sui\"
Source: Tradingview.com<\/a><\/figcaption><\/figure>\n

According to the chart above, Sui (SUI) is signaling an overbought market in the short term. The asset’s price trades above the upper Bollinger Band (BB: Upper). <\/span>This shows that the coin may continue to grow with traders holding on to the bullish sentiment.<\/span><\/p>\n

SUI’s Moving Average Convergence Divergence (MACD) indicator and bold green histogram bars are above the signal line. This shows that SUI has been bullish, and the bulls’ momentum has not been compromised.<\/span><\/p>\n

The chart above shows a green candle stick forming across the BB: Upper, depicting increased BUY trades. <\/span>Furthermore, SUI’s Relative Strength Index (RSI) is at 56.70, pointing up toward the overbought zone (above 70). <\/span><\/p>\n

This corresponds with the signal on the Bollinger Band indicator and the growing green candle.<\/span><\/p>\n

Sui’s Support and Resistance<\/h3>\n
\"Sui\"
Source: Tradingview.com<\/a><\/figcaption><\/figure>\n

Considering the price movement of Sui in the chart, the coin’s market is bullish and on an intermediate trend. With the bulls upholding a high buying pressure, SUI could reach the $0.75 level before today ends.<\/span><\/p>\n

This positive market sentiment could drive more BUY traders for SUI, potentially pushing the coin to the $0.9423 resistance. If it successfully breaks above this level, $1 and $1.19 could be the next price target.<\/span><\/p>\n

However, if any slight movement of the bear occurs during the day, fear could creep in, and the coin might fluctuate toward the $0.6 level or decline further to its support at $0.4729.<\/span><\/p>\n

Experts’ Predictions for Sui in the Long Term<\/h2>\n

Based on fundamental and technical indicators, several experts have shared their opinion on the price outlook of Sui (SUI).<\/span><\/p>\n

According to <\/span>CoinCodex<\/span>, Sui is expected to trade between the $0.642158 and $1.280013 levels, increasing by 71.29% by the end of 2023.<\/span><\/p>\n

In 2025, Sui’s price prediction is $1.148906 (minimum) and $3.64 (maximum). This shows that the coin is expected to grow by 386.57% by the end of 2025. <\/span>Furthermore, CoinCodex predicts the price of SUI to increase by 352.55%, reaching $3.39 (maximum price) before the end of 2030.<\/span><\/p>\n

Additionally, <\/span>BitNation<\/span><\/a> forecasts the minimum, maximum, and average price of SUI by the end of 2023 to be around $0.893267, $1.34, and $1.12, respectively.<\/span><\/p>\n

In 2025, the coin’s maximum, minimum, and average price is expected to reach $2.83, $2.38, and $2.61, respectively. <\/span>In the next 5 years, SUI is forecasted by BitNation to be around $6.10 (minimum), $6.33 (average), and $6.55 (maximum).<\/span><\/p>\n

Cryptocurrency markets are highly volatile and can deviate from predicted price actions. Therefore, adequate risk management approaches and technical analysis must be in place before trading.<\/p>\n

Factors That Could Influence Sui<\/h2>\n

The Sui 8192 web3 game fuels blockchain activities while SUI maintains its rally.<\/span><\/p>\n

The Sui blockchain platform is experiencing significant growth and engagement, mainly driven by the popularity of its new Web3 game, Sui 8192. <\/span><\/p>\n

The game has resulted in a <\/span>surge of transactions<\/span><\/a> on the Sui blockchain, with 258 million transactions during the last 24 hours. <\/span>Sui 8192, built by Ethos, allows players to earn points by matching related tiles on a grid. <\/span><\/p>\n

The game finishes once they reach 8192 points, and an NFT is imprinted on the blockchain, showcasing their achievement. <\/span>This gamified experience is introducing more individuals to the realm of NFTs and blockchain in a user-friendly manner.<\/span><\/p>\n

Apart from Sui 8192, the Sui blockchain also hosts various noteworthy games like Orange Comet, Cosmocadia, and Abyss World, further enriching the gaming universe on the platform.<\/span><\/p>\n

As a result of this surge in blockchain activity and the increasing popularity of its gaming ecosystem, the native token of the Sui blockchain, SUI, has experienced a bullish run. <\/span><\/p>\n

Over a week, SUI’s value has risen by 10.5%, from $0.63 to a high of $0.72. Additionally, the trading volume of SUI has nearly doubled in the past week, reaching $76 million in just 24 hours. <\/span>Consequently, the market capitalization of SUI has also seen growth, rising from $426 million to over $484 million today, July 18, 2023.<\/span><\/p>\n

The combination of the thriving blockchain platform, fueled by engaging Web3 games like Sui 8192, and the increasing popularity of SUI tokens contributes to the positive sentiment and the potential for sustained growth in the future. <\/span><\/p>\n

This may strengthen the bullish sentiment in the asset market, attracting more blockchain users and potentially boosting the price of SUI as demand for the token increases.<\/span><\/p>\n

While SUI is projecting high price growth in the long run, investors seeking to diversify their crypto investment portfolio may want to consider the new promising coin, Mr. Hankey.<\/span><\/p>\n

Mr. Hankey Might Be the Next 100x Meme Crypto<\/h2>\n

The new meme coin, Mr. Hankey Token<\/a> ($HANKEY), is moving the idea of “shitcoin” to a whole new level.<\/span><\/p>\n

The Mr. Hankey Token (HANKEY) features a turd as its mascot and incorporates a lot of hilarious poop-themed comedy. It pays homage to the beloved Christmas character, Mr. Hankey, from the popular show South Park.<\/span><\/p>\n

The project team aims to approach the crypto space with a sense of fun, projecting the success of its project even though it has a<\/span> crappy identity. <\/span><\/p>\n

The token is built on the Ethereum blockchain with a total supply of 1 billion units of HANKEY. The token has gained attention for its viral potential in the meme coin space.<\/span><\/p>\n

Despite having a modest hard cap, the project has already been highlighted on well-known trackers like DEX Screener and CoinGecko. Before launch, the community is also being actively built, which is essential for any cryptocurrency project to succeed.<\/span><\/p>\n

Mr. Hankey Features<\/h3>\n