Sui cryptocurrency has managed to hit a new all-time high (ATH) of $3.51 during the early Asian trading hours. With this, the altcoin has set a new milestone in the crypto space. Amid the ongoing rise of Sui (SUI) token, will the altcoin reach its upper target price of $4 this month? In this article, CoinPedia unravels the mystery of what is possible!
The price of Sui coins is about to hit a new high!
With an intraday increase of about 3%, Sui price is currently valued at $3.4130 with a trading volume of $1.98 billion. Moreover, with the recent price surge, it has managed to reclaim the 14th position in the market.
Moreover, the altcoin has surged by about 50% in the past 7 days and 65.37% in the past 30 days. The year-to-date return is +337.56% and the altcoin has a market cap of $9.695 billion.
Sui Token Technical Viewpoint
The Relative Strength Index (RSI) continues to trade above the overbought range on the 1D timeframe. This suggests that buying pressure outweighs selling pressure on altcoins in the cryptocurrency market.
Moreover, the EMA 50-day trendline keeps supporting the Sui price chart, while the 200-day trendline is showing a bullish uptrend. This suggests that the altcoin is likely to continue to appreciate in value in the coming period.
Will SUI price reach $4 this November?
If the bulls continue to gain momentum, the SUI token price will retest its $3.50 resistance level. Sustaining the price above this level could set the stage for its move towards its upper target price of $4 this month.
On the other hand, a bearish reversal could pull the price towards the $3 support level. Furthermore, if the bulls fail to regain momentum at that point, this could cause the altcoin to drop to the lower support level of $2.5 this month.
