Bulls Push SUI Price Close to All-Time High, Eyeing $5 Target

2024-12-16 22:30

SUI price is on the verge of making history, with the potential to reach a new all-time high as it trades just 2% below its previous peak. If bullish momentum continues, SUI could break the $4.92 resistance and hit $5 for the first time by the end of December 2024.

While the uptrend remains intact, indicators like the DMI and BBTrend suggest the trend’s strength may be weakening. Traders are closely watching key levels, as a reversal could see SUI testing supports at $4.49 or even $3.65.

SUI Uptrend Is Still Strong, But Going Down

SUI Directional Movement Index (DMI) chart reveals that its Average Directional Index (ADX) is currently at 23.3, down from 32 just two days ago. The ADX measures the strength of a trend, with values above 25 typically indicating a strong trend and values below 20 reflecting a weak or directionless market.

Although SUI ADX has dipped, it remains close to the threshold for a strong trend, signaling that the uptrend is still intact but showing signs of weakening.

SUI DMI. Source: TradingView

The DMI chart also shows the +DI (Directional Indicator) at 24.4, higher than the -DI at 16.3, confirming that the trend remains upward. However, the declining ADX suggests that the strength of this uptrend is decreasing.

While SUI is still in a favorable position, traders should monitor the ADX closely. Further declines could signal a loss of momentum and a potential shift toward a more neutral or bearish phase.

SUI BBTrend Could Be Losing Its Steam

SUI’s BBTrend indicator currently stands at 13, maintaining positive territory since December 14, after hitting a negative low of -6.74 on December 13.

BBTrend is a technical indicator derived from Bollinger Bands, designed to measure price momentum and trend direction. Positive values indicate bullish momentum, while negative values suggest bearish pressure.

SUI BBTrend. Source: TradingView

Although SUI’s BBTrend remains positive, it has declined from 15.69 just two days ago, signaling a slight loss of momentum.

This dip suggests that while SUI is still in an uptrend with favorable momentum, the strength of the bullish trend might be waning.

SUI Price Prediction: Will Its Price Reach $5 In December?

SUI’s EMA lines indicate it remains in an uptrend, although, as highlighted by the DMI, the strength of this trend is not as strong as before.

If the uptrend persists and SUI price breaks the $4.92 resistance, it could soon test the $5 mark, setting a new all-time high. With SUI currently just 2% below its previous all-time high, bullish momentum could push it into uncharted territory.

SUI Price Analysis. Source: TradingView.

On the other hand, if the uptrend weakens and a downtrend emerges, SUI price might first test support at $4.49. Should this level fail to hold, the price could decline further to $3.65, marking a significant reversal.

The post Bulls Push SUI Price Close to All-Time High, Eyeing $5 Target appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

High Voltage (HVCO) на Currencies.ru

$ 0.0012187 (+0.56%)
Объем 24H $0
Изменеия 24h: 0.13 %, 7d: -0.82 %
Cегодня L: $0.0012066 - H: $0.0012233
Капитализация $0 Rank 8594
Доступно / Всего 0 HVCO

all-time price high sui bulls eyeing push

all-time price → Результатов: 126


Фото:

What price will DOGE hit: will Dogecoin reach $100?

In case you haven’t already heard, today, Dogecoin reached a new all-time high price of nearly $0.60. That has left crypto investors around the world asking the very same question: what price will Dogecoin reach? Will Dogecoin reach $1? Will Dogecoin reach $2? Will Dogecoin reach $100? In this article, we have tried to give […] The post What price will DOGE hit: will Dogecoin reach $100? appeared first on Invezz.

2021-5-5 20:46


Фото:

Where to buy Dogecoin: will DOGE make me rich?

Today, Elon Musk’s favourite cryptocurrency, Dogecoin, hit a new all-time high price of nearly $0.60; yes, you read that correctly. Now, investors around the world are all asking the same question: will Dogecoin make me rich? Investing in Dogecoin has proven to be a highly profitable practice for plenty of people, but what about those […] The post Where to buy Dogecoin: will DOGE make me rich? appeared first on Invezz.

2021-5-4 18:50


Фото:

Bitcoin Price Crashes Over the Weekend: Still No Recovery

The last week has been a very exciting time for Bitcoin. Not only did the coin hit a new all-time high, but it also crashed soon after, robbing investors and traders of a peaceful weekend. Bitcoin Price Drops by Nearly $15k in a Four Days The news of Bitcoin price dropping dominated the headlines over […] The post Bitcoin Price Crashes Over the Weekend: Still No Recovery appeared first on Invezz.

2021-4-20 17:23