According to SUI’s price analysis, the coin might reach $7.50 by the end of 2024.
By 2026, SUI could reach double-digit prices and trade at $12.25.
SUI might survive the bearish phase until 2030, but the price prediction for this year is still $22.
Scalable L1 blockchains are a rare type in the cryptocurrency space.
However, it remains as developments within the field continue to improve. SUI is one of the leading projects in this field, launched in 2023.
Sui has had its share of struggles. But recent data suggests the project may be finding a solution to this challenge. In this post, Coin Edition explains the fundamentals of Sui. We also look at price performance and forecasts from 2024 to 2030.
Table of contents
What is SUI?
Sui is a Layer-1 blockchain developed by Mysten Labs. With Sui, users can get low-latency transactions and higher throughput. Developers can also benefit from the project. For example, Sui's object-oriented design ensures that developers can build Web3 applications on the network.
This is done with the help of zero-knowledge (ZK) proofs. Interestingly, Sui, like Aptos (APT), uses the Move programming language. The programming language helps developers build smart contracts faster and allows users to avoid issues left over from other blockchain infrastructures.
Sui has a downloadable wallet that uses ZK cryptography to ensure smooth transactions. In terms of security, the blockchain uses a Proof of Stake (PoS) consensus mechanism. This helps prevent the network from being attacked by delegators or validators who could affect the chain.
SUI Market Status
Sui is ranked as the 52nd most valuable project by market cap. At the time of writing, the project has a market cap of $2.54 billion. In the past 24 hours, SUI’s trading volume has increased by 133% to $732.16 million.
SUI’s price also rose, and trading volume also increased. At press time, the coin is worth $2.06, up 16.43% from the previous trading day. The maximum total supply of SUI is 10 billion.
However, only 1.23 billion have been allocated. This means that the project will still release more tokens because other people are buying them. SUI can be purchased on various exchanges such as Coinbase, Binance, Kraken, Bitfinex, and OKEx.
Sui (SUI) Price Analysis
When SUI was released, there was a lot of FUD surrounding the project, so the price plummeted for several days. However, this was an exception as the value of the token has increased by 148% in the past 90 days.
But can prices continue to rise? We will find out by analyzing the token from a technical perspective. Here we will also learn about the price forecast for 2024-2030.
SUI Price Analysis – Bollinger Bands
At the time of writing, the Bollinger Bands (BB) indicate high volatility around SUI. Moreover, the upper price of BB reached $2.06, indicating that the coin is overbought.
As a result, the SUI price fell and briefly dropped below $2. The bullish bias is negated if the price drops to $1.81. However, if the buying trend strengthens, it may trigger a rebound and the SUI may test $2.06 again.
SUI/USD 4-hour chart (Source: TradingView)
Sui (SUI) Price Analysis – RSI
Signals from the Relative Strength Index (RSI) showed that the SUI was previously overbought. Like the Bollinger Bands, the RSI reading is also a reason for price pullbacks.
However, the indicator remains in the buy zone, suggesting that the bullish advantage is maintained. In a very bullish scenario, the SUI value could rise to $2.10. However, if the buying momentum continues to decline, the cryptocurrency price could drop to $1.77.
SUI/USD 4-hour chart (Source: TradingView)
Sui (SUI) Price Analysis – Moving Average Convergence Divergence
At press time, the MACD (Moving Average Convergence Divergence) reading was positive. The positive MACD reading is evidence of the growing upward momentum of the SUI.
Moreover, the 12 EMA (blue) has crossed above the 26 EMA (orange), suggesting that buyers are not being driven out by sellers. However, the 26 EMA is trending in the same opposite direction. If this continues, the bullish momentum could weaken and the SUI could decline further.
SUI/USD 4-hour chart
Sui (SUI) Price Prediction 2024
Coin Edition uses the daily timeframe instead of the 4-hour chart to evaluate SUI’s price prediction for 2024. The first indicator we checked is the OBV (On Balance Volume). At press time, the OBV is showing a positive volume pressure signal.
This number means that there are more buy orders than sell orders. In the medium term, the rise in OBV may drive the rise in SUI value. In addition to OBV, Supertrend is another indicator that Coin Edition considers.
At press time, Supertrend gave a buy signal at $1.41. If the selling pressure increases, the price of SUI could return to this point. However, traders who accumulate to this level could enjoy longer profits. By December 2024, the SUI price could reach $7.50.
SUI/USD Daily Chart
Sui (SUI) Price Prediction – Resistance and Support Levels
The bulls took advantage of the seller exhaustion and established support for SUI at $1.62 on March 24. As a result, the coin price faced resistance and moved up to $1.73.
However, it did not take long for the bulls to overcome the obstacle and the SUI rose to $1.88. Another resistance emerged in this area. However, buying pressure soon turned it into support and helped push the SUI above $2.
SUI/USD 4-hour chart
Given the current market structure, if the bulls try to push the price further up, SUI might face overhead resistance at $2.05. If this attempt is successful, SUI might reach $2.10. On the other hand, if the experiment fails, the price might drop to $1.81.
Sui (SUI) Price Prediction 2025
Sui’s ability to process transactions faster than most L1s is likely the reason the network has been able to gain so much traction. As traction grows, adoption of the native token could surge as well. By 2025, SUI could reach a price of $10.
Sui (SUI) Price Prediction 2026
By 2026, many projects are expected to integrate the Move programming language. In this case, Sui’s community may reach impressive numbers and many investors may decide to buy this cryptocurrency. As a result, the value of SUI may reach $12.25 in 2026.
Sui (SUI) Price Prediction 2027
The SUI price could get hit hard by the 2027 correction. In this case, the coin’s value could drop below its 2024 peak. This gives us a price prediction of $5.50.
Sui (SUI) Price Prediction 2028
In 2028, SUI may recover from the bear market of 2027. In addition, there may be an increase in development activity on the network as project code submissions are highly valued. By the end of 2028, the price of SUI may be $8.73.
Sui (SUI) Price Prediction 2029
The cryptocurrency might be worth $14 in 2029. There could be several reasons for this prediction, but the most important one is the fact that the altcoin season might happen by then, and SUI might not be left out of the rally.
Sui (SUI) Price Prediction 2030
The SUI price prediction for 2030 is $22. As we mentioned in our 2029 price prediction, an altcoin season may occur. However, this season can last for more than a year. Therefore, the price of SUI may be close to double what it was last year.
Sui (SUI) Price Prediction 2040
2040 is a long time to predict what will happen to cryptocurrencies. However, the fundamentals underpinning SUI make it a coin that will remain relevant in the coming years. By 2040, SUI price could reach $34.38.
Lowest PriceAverage PriceBest Price$16.92$26.17$34.38
Sui (SUI) Price Prediction 2050
The highest price of SUI is $40.50 by 2050. This could be due to several factors such as the global adoption of cryptocurrencies and a surge in the market capitalization worth billions of dollars.
Lowest PriceAverage PriceBest Price$19.67$28.96$40.50
in conclusion
Finally, despite being a project that has been launched for less than a year, Sui has already demonstrated features that will be useful to the cryptocurrency community in the long run. Depending on the underlying cryptocurrency, the price could rise above its current value.
But this won’t happen without a recession. If you plan to make money with SUI in 2024, now might be a good time to start looking. However, long-term buyers of the token can accumulate at the price they like.
