Sui Price Prediction for Today, November 6 – SUI Technical Analysis

On Nov 6, 2024

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The Sui price prediction adds a tremendous 13.70% gain and at the time of writing, it is trading around the $2.28 resistance level.

Sui Price Statistics Data:

Sui price now – $2.28
Sui market cap – $6.57 billion
Sui circulating supply – 2.85 billion
Sui total supply – 10 billion
Sui Coinmarketcap ranking – #16

Getting in early on SUI has proven valuable, as the token has surged 527.81% since its all-time low of $0.3643 a year ago. Currently, its price ranges between $1.88 and $2.33, showing resilience despite a recent dip from its all-time high of $2.36 last month. This growth underscores SUI’s potential in the crypto market.

SUI/USD Market

Key Levels:

Resistance levels: $2.80, $2.90, $3.00

Support levels: $1.60, $1.50, $1.40

SUIUSD – Daily Chart

The SUI/USD pair is in a consolidation phase, holding steady between support at $1.75 and resistance around $2.10. This range-bound movement reflects a market pause, with traders waiting for a clearer direction. With the moving averages flat, it confirms the lack of significant trend momentum, though SUI/USD has shown resilience compared to other altcoins in recent sessions. After a slight dip in early October, last week’s price action exhibited strength, with a notable recovery on Monday and Tuesday that has since held through Sunday.

Sui Price Prediction: Would Sui Go Higher?

When analyzing the trading volumes, SUI/USD shows promising interest, especially in the DEX space. Compared to volumes from two months ago, there’s been a significant increase, though the Total Value Locked (TVL) has decreased slightly from recent highs. This slight decline in TVL indicates that while SUI/USD has not gathered new momentum, it’s maintaining a strong level of support. The pair’s current phase of consolidation highlights a lack of decisive moves from buyers or sellers, signaling that traders may be in “wait-and-see” mode until broader market influences, like the upcoming election results, clarify the next major trend.

On the upside, if the price breaks near the channel’s upper boundary and closes above it, SUI/USD may likely continue its uptrend and could reach the resistance levels of $2.80, $2.90, and $3.00. On the contrary, if the technical indicator fails to break above the positive side, there is a tendency of bears to return to the market and this may likely cause the market price to hit the nearest support levels at $1.60, $1.50, and $1.40 respectively. Technically, the 9-day MA is likely to cross above the 21-day MA, suggesting additional bullish signals.

SUI/BTC Heads to the North

Against Bitcoin, Sui has been following a bullish movement as the coin moves toward the upper boundary of the channel. However, the recent rise could allow the cryptocurrency to keep the bullish movement, which is a promising sign for buyers.

Sui Price Prediction for Today, November 6 – SUI Technical Analysis — SUIBTC – Daily Chart

Nevertheless, if the bulls break above the channel, higher resistance could be located at 3800 SAT and above. Meanwhile, from the downside, the nearest level of support now lies below the lower boundary of the channel. Beneath this, further support could be found at 2200 SAT and below. The 9-day MA is likely to cross above the 21-day MA which may be a good sign for the bulls as the momentum could be on their side.

Meanwhile, @oct_trades shared with followers on X (formerly Twitter) that @SuiNetwork has recently outperformed top Layer 1 networks, not only with increased inflows but also in price gains. He pointed out a triangle formation currently developing, indicating a potential breakout. A similar pattern was observed during the last rally, as seen in the RSI comparison, suggesting stronger momentum. This comes while altcoins remain largely sideways, presenting a favorable opportunity to accumulate more $SUI at this level, anticipating better days ahead.

$SUI BACK ABOVE $2 📈@SuiNetwork has been outperforming top Layer1s recently.
Not only in terms of inflows but in the price as well.
With the current triangle formation, there is going to be a breakout.
We already saw something similar in the previous run as you can compare… pic.twitter.com/kHj648Nbfz
— OCT Trades (@oct_trades) November 5, 2024

Alternatives to Sui

SUI/USD may see heightened volatility, with a potential breakout or breakdown influenced by external sentiment shifts. Currently, the SUI price is maintaining strength above the $2.00 level, which has provided consistent market support over recent days. Should the price approach the upper boundary of its channel, SUI/BTC could potentially test the $2.50 resistance level. Meanwhile, Pepe Unchained is attracting substantial attention in the crypto sphere with unique features that distinguish it from other meme tokens like PEPE. Its $PEPU token presale is progressing rapidly, already raising over $25 million, signaling strong investor interest. Investors are encouraged to act quickly to acquire tokens at the current price, as a significant price surge could follow the presale’s conclusion.

IS PEPE UNCHAINED HAS GREATER VALUE THAN PEPETO

Pepe Unchained could surpass PEPE in value by 2025 due to its strong foundational elements and projected community growth. For investors, the platform’s current presale offers an opportunity to gain substantial returns, with projections indicating over 100x growth potential if Pepe Unchained reaches current PEPE price levels.

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