SUI Climbs 4% As Traders Eye This ICO That Flags Hot Presales

On Dec 14, 2024

Join Our Telegram channel to stay up to date on breaking news coverage

The Sui price climbed 4% in the last 24 hours to trade at $4.80 as of 9:05 p.m. EST on trading volume that rose 2% to $1.7 billion, according to Coingecko.

Sui Price Aims For A Breakout To Continue Its Bullish Rally

Over the past few weeks, the Sui price has been in a well-established uptrend, as evidenced by the formation of higher highs and higher lows within a parabolic curve. Recently, the asset broke out of a rounding bottom which is a bullish continuation pattern, signaling further upward momentum.

The price of Sui is currently consolidating just below the $4.93 resistance level, which represents the most recent swing high. This consolidation could be indicative of a pause in the rally, often referred to as a bull flag.

The key support levels to monitor lie at $4.24 (the 50-day Simple Moving Average (SMA)) and $3.67 (the 200-day SMA), both of which have acted as strong areas of support during the uptrend.

Meanwhile, the Relative Strength Index (RSI) is currently at 68.43, indicating that the asset is approaching overbought territory but has not yet reached extreme levels. This suggests there is still room for further upside before a correction or consolidation becomes more likely.

The Moving Average Convergence Divergence (MACD) histogram is positive, reflecting bullish momentum, with the blue MACD line above the orange signal line.

Sui Price Chart

SUI/USDT Chart Analysis (Source: Tradingview)

Sui Price Prediction

Given the bullish structure and strong technical indicators, the Sui price is likely to continue its upward trajectory in the medium term. The next major resistance to watch is at $5.00, a psychological level that, if broken, could lead to an extended rally toward $5.50 or higher.

If a correction occurs, a retest of the $4.00-$4.24 support zone would provide an opportunity for buyers to re-enter the market. Conversely, if the price of Sui breaks below the 200-day SMA at $3.67, the bullish thesis could be invalidated.

As the Sui price soars, investors who are looking for diversification opportunities might consider the newly launched Best Wallet (BEST), which an analyst on the YouTube channel 99Bitcoins, with over 709K subscribers, says is one of the best crypto wallets in the market.

Best Wallet Raises Over $4.1 Million In Presale

If you want a single app to buy, sell, trade, swap, and store your cryptocurrency, the Best Wallet app could be a great choice.

It’s competing with well-known wallets like Trust Wallet and MetaMask, but Best Wallet is quickly becoming popular and differentiates itself by offering value-added features.

Did you know? You can earn $BEST tokens by completing daily airdrop quests! 💸💸💸
The more points you stack, the more $BEST you will receive! Get access to exclusive features and reduced fees when the token launches. 🔥
Remember, daily quests reset everyday at midnight. Don’t… pic.twitter.com/APEuMjfNZZ
— Best Wallet (@BestWalletHQ) November 9, 2024

One of those is its “Upcoming Tokens” section, which highlights presales deemed to have great promise.

The feature has built an impressive track record, flagging meme coins such as CatSlap ($SLAP), which still shows an insane 4,400% gain for early investors.

Another stellar example is the newly listed Pepe Unchained ($PEPU). Best Wallet flagged it while in presale and it’s already surged 171% since launch.

You can also earn a huge annual percentage yield of 634% by staking BEST tokens.

$BEST tokens are priced at $0.023175 right now. If you’d like to join investors who have socked more than $4.1 million into the project, buy before a price hike in less than 2 days to secure the best deal.

Visit BEST Token

Best Wallet – Manage Your Crypto