Crypto Expert Predicts SUI Price Could See Major Upside After Reaching Key Support – Here’s Why
Veteran analyst CryptoBullet noted on X that the price of SUI could see massive gains after testing key support levels. SUI has fallen to a key price level that matches its 100-day moving average – an area where buyers have stepped in before. Looking at the charts, several signs are pointing to a possible recovery from here, suggesting SUI might start moving back up soon.
What you'll learn 👉
SUI Support Zone and Technical Indicators
CryptoBullet identified the critical support zone for SUI, highlighted as a horizontal line on the chart. This level has been tested multiple times in recent months, and while the price briefly dipped below it, it quickly recovered, signaling that support is holding strong. This rebound indicates the possibility of an upward move as buyers may step in to drive the price higher.
In addition to this horizontal support, the 100-day moving average (MA100) is another key level reinforcing the bullish outlook. The price has recently touched this moving average, a crucial trend indicator that has provided support in the past. If SUI’s price maintains its position above this level, it strengthens the case for potential upward movement soon.
Potential Upside for SUI Price
The chart analysis also includes key Fibonacci retracement levels. SUI has pulled back to the 0.786 Fibonacci level, a common area for price reversals. If the price can stay above this mark, the next potential target is the 1.618 Fibonacci extension, which aligns with CryptoBullet’s $6.50 price target.
According to the analysis, if SUI continues to hold support and maintain these levels, it could see a significant recovery, possibly reaching the $6.50 mark as a result of further market strength.
Read Also: 3 Under-The-Radar Low Cap Altcoins To Buy As Crypto Prices Dump
Market Sentiment for SUI Price
Another important factor is the Relative Strength Index (RSI), which currently sits at its lowest level since August 2024. This suggests that SUI has been oversold, and the recent reset in the RSI indicates room for an upward move.
As the RSI moves away from oversold conditions, it further supports CryptoBullet’s outlook that SUI has the potential for a rebound, presenting opportunities for traders.
CryptoBullet encourages traders to stay focused on the market, holding their positions as the technical indicators suggest a possible rally. With key support levels in place and favorable signs from the RSI and Fibonacci levels, SUI’s price may be setting up for a major move higher in the coming weeks.
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