Sui Price Hits New ATH, Is $5 Imminent This December?

Story Highlights

• The Sui token hit a new ATH of $4.47 during the early Asian trading hours today.
• With increasing bullish sentiment in the technical indicators, the altcoin aims at a higher price target.
• The sustained bullish rally could push the price toward an annual high of ~$5.50.

The Sui price achieved a new ATH during the early Asian market, highlighting a strong optimistic outlook for this altcoin in the cryptocurrency market. Moreover, with a market capitalization of $12.27 billion, it has secured the 17th position.

With the increasingly bullish sentiment in the altcoin market, will the Sui price continue its upward trajectory and record a 10X surge from its August low of ~$0.50? Let’s find out the short-term price possibilities with this latest Sui price analysis!

Sui Crypto Records A New ATH!

With a strong positive breakout from its bullish flag pattern in the daily time frame, the Sui token has achieved a new all-time high of $4.47 with a trading volume of $4.58 billion, a change of +78.77%. This indicates increased bullish sentiment for the altcoin.

The Moving Average Convergence Divergence (MACD) displays a rising green histogram with its averages recording a bullish convergence in the daily time frame. This highlights an increase in the buying sentiment for this altcoin in the crypto market.

On the other hand, the SMA indicator constantly acts as a support to the SUI price chart. Reportedly, this indicates a strong bullish price outlook for the Sui token in the upcoming time.

Will SUI Price Hit $5?

Maintaining the price above its support level of $4 could set the stage for this altcoin to head toward its $4.75 mark. Moreover, if the bullish sentiment intensifies, this could push the price toward its higher price target of $5.5 this month.

However, if a bearish reversal occurs, the Sui crypto price may retest its support level of $4.00. Furthermore, if the bearish momentum intensifies, this could pull the price of this altcoin toward its lower support trendline of $3.250.

To find out answers to questions like “Will SUI reach $10? Read CoinPedia’s Sui Price Prediction. Also, subscribe to stay updated on the latest crypto-related news!

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