Sui (SUI) Surges Is a Rebound to $5 Happening Soon?
- Sui price has jumped 11.25% in 48 hours, pushing its market cap above $10.8 billion.
- MACD signals bullish convergence, while 200-day EMA acts as support, suggesting further upside potential.
- If it holds above $3.5, it could target $3.83 and $4.50.
Sui (SUI) has staged a strong rebound, gaining 11.25% over the past 48 hours as bullish sentiment returns to the DeFi and gaming sectors. The surge pushed SUIs market cap past $10.83 billion, sparking investor interest about whether this rally can extend further.
Sui Price Analysis: Bullish Momentum Builds
SUIs price is up 5.38% in the past 24 hours, with a trading volume of $1.82 billion. While the coin has gained 1.79% over the past week, its 30-day performance is down 23.56%, with a year-to-date return of -14.59%.
On the daily chart, SUIs 50-day EMA is bearishly curved, reflecting lingering downside pressure. However, the 200-day EMA is acting as strong support, suggesting that SUI is holding its ground amid the recovery.
The MACD indicator shows a rising green histogram, with MACD and signal lines converging upward, indicating building bullish momentum. This suggests that SUIs price could extend its gains if buying pressure persists.
SUI Price Prediction: Can It Hit $5?
If SUI holds above the $3.5 support zone, it could rally toward its immediate resistance at $3.83. Breaking this level could set the stage for a push toward $4.50, with $5 becoming a realistic target if bullish sentiment in the broader market continues.
However, failure to hold $3.5 could trigger a pullback toward the $3 support zone. If bearish pressure intensifies, SUI could fall to $2.88, which has previously acted as a critical support level.
The coins recent breakout signals renewed bullish interest, with technical indicators favoring further gains. If the coin maintains support above $3.5, a move toward $4.50 or higher could be likely. However, dropping below $3 could see it retesting lower support levels, making market sentiment key to its next move.
Read more: https://thenewscrypto.com/sui-sui-surges-is-a-rebound-to-5-happening-soon/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
