Sui Price Prediction: SUI Tops Weekly Gainers With 46% Surge, But Traders Turn To This Meme Coin With A 1,016% APY

Sui Price Surges on Bullish Rally

The Sui price has witnessed a remarkable 9.6% surge in the past 24 hours, reaching $1.51 as of 10:28 p.m. EST. Trading volume has also skyrocketed by 34% to an impressive $928 million.

Moreover, Sui has experienced a significant 46% jump in the past week, making it the biggest gainer among major cryptos based on market capitalization, as reported by Crypto Bubbles.

Sustained Bullish Momentum

Technical analysis of the SUI/USDT price chart on the 4-hour timeframe reveals a period of struggle for bulls to push the price above the $1.06 resistance in August and early September.

However, the $0.77 support level has enabled Sui to form a double bottom pattern. Bulls have utilized this support to propel the price into a sustained bullish rally.

Currently, Sui trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which now serve as immediate support levels at $1.179 and $0.095, respectively. This trading above both SMAs further solidifies the bullish trend.

Additionally, the Relative Strength Index (RSI) is approaching the 70-overbought region, currently at 68. This indicates that Sui is currently experiencing significant buying pressure.

The bullish momentum is also supported by the Moving Average Convergence Divergence (MACD) crossing above the neutral line.

Sui Price Prediction

Based on the current price analysis, SUI is on a bullish trajectory that the bulls aim to maintain. The RSI and MACD further support this positive outlook as investors continue to invest in the token.

If the current momentum persists, SUI could potentially rise even higher, with bulls targeting $1.84.

However, in a bearish scenario, if bears gain control, SUI could retreat to the $0.95 support level, coinciding with the 200-day SMA.