Recent market trends indicate that the price of the SUI token is on the rise after overcoming several key resistance levels. This article examines its current state and potential forecasts.
Daily Chart Analysis of SUI
The daily chart shows a strong recovery from April lows near $1.80. After a long consolidation period, SUI has finally broken above the 50-day and 100-day moving averages. The current price is around $4.09, up 1.86% for the day, having successfully breached previous resistance near $3.50–$3.80. The positive slope of the Accumulation/Distribution Line indicates growing buying pressure.
Hourly Chart Dynamics of SUI
Zooming into the hourly chart, the current momentum remains strong. After retesting the $3.80 zone multiple times, the SUI price launched a strong rally, hitting an intraday high above $4.20. The moving averages are perfectly aligned for a short-term rally. Volume spikes on upward candles and stable ADL during dips suggest that short-term dips are being aggressively bought.
SUI Price Prediction: When Will It Hit $5?
Given the current technical structure and positive momentum, $5 is the next logical resistance target. If the bulls maintain control and the SUI price stays above $4.00, an impulsive move toward $4.60 could be expected, followed by a potential breakout to $5. The important support level is $3.80; a breakdown below this level could trigger a retest of the 50-day SMA near $3.30.
The price of SUI is in breakout mode, supported by moving averages, increasing accumulation, and a positive short-term structure. If macro market conditions stay neutral to positive, SUI could very well test the $5 mark in the coming days.
