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SUI targets $3.89 after rising 11%
Last night, Bitcoin recorded a remarkable growth, reaching a new all-time high, and this optimistic sentiment has spread to some altcoins. Among them, the price of Sui increased by 11.3%, reaching 3.41 USD.
Will SUI continue its upward trend? To find out, we will conduct a price chart analysis.
Price Prediction for SUI
In Wednesday's trading session, SUI strongly rebounded from the 20-day exponential moving average (EMA) at 2.92 USD, and on Thursday, it surpassed the 50-day simple moving average (SMA) at 3.08 USD.
However, if the price drops and breaks below the 20-day EMA, this will signal that the sellers continue to sell during the rallies. In that case, SUI may drop to 2.64 USD and then to 2.29 USD.
However, this optimistic view will be denied in the short term if the price drops and breaks through the moving averages. In that case, SUI may drop to 2.80 USD and then to 2.60 USD.
Mr. Giáo