Sui Coin Price Displays Increased Bullish Sentiment
The Sui coin price had traded under a descending channel pattern since mid-April. This indicated a strong bearish sentiment in the crypto space. However, with the increased price action, the Sui price has successfully retested its crucial support level of $0.460.

Furthermore, it has added 71.65% over the past 17 days, resulting in it forming an ascending triangle pattern. Moreover, with the help of a support trendline, this altcoin is on the verge of testing its important resistance level.

With a trading price of $0.9126 and a circulating supply of 2,596,086,127 tokens, this altcoin has secured the 34th position in the global cryptocurrency list with a market capitalization of $2.364 Billion.

The Simple Moving Average (SMA) has displayed a bullish convergence in the 1D time frame, indicating increased buying pressure for the altcoin in the market. However, the MACD shows a neutral price trend, with its averages moving sideways. This indicates a mixed price sentiment for the SUI token.

Will Sui Price Hit $2 In 2024?
If the market continues gaining momentum, the Sui token will head toward its resistance level of $1. Maintaining the price at that level will set the stage for this altcoin to head toward its upper resistance level of $1.2980 during the upcoming weeks.

For Sui crypto to hit a high of $2, it will require a jump of 117.96%, taking its present listed price of $0.9176 into consideration.

On the flip side, if the bears regain power, the Sui coin price will break its triangle pattern and retest its support level of $0.7410. Moreover, if the bulls fail to regain momentum, it will plunge toward its lower support level of $0.460. $SUI