#BinanceHODLerERA Why the next stop of the 'altcoin season' for SUI could be 5 dollars.💸💸
$SUI ✨💥✨💥✨💥
The start of a new altcoin season could play a key role in sending SUI towards 5 dollars.
#AltcoinSeasonLoading Key point:
The growing interest in altcoins could push SUI above the strong resistance at 4.30 dollars, setting up a rally towards 5 dollars.
Bitcoin BTC 103,229 € has been consolidating after reaching an all-time high of 123,218 dollars. Although BTC has not given up much ground, its declining dominance of the total cryptocurrency market capitalization shows that money is flowing into altcoins.
Will SUI ⬆️3.47 € be one of the beneficiaries of this altseason? Let's analyze the charts to find out.
💥SUI price prediction.
SUI gained momentum after breaking above the 50-day simple moving average (3.10 dollars) on July 10.
The upward movement has reached near the upper resistance of 4.30 dollars, where sellers are expected to present strong defense. There is support at 3.81 dollars and then at the 20-day exponential moving average (3.37 dollars). If the price bounces on the 20-day EMA, the bulls will try again to push the SUI/USDT pair above 4.30 dollars. If they succeed, the pair could rise to 5 dollars and eventually to 5.37 dollars.
This optimistic outlook will be invalidated in the short term if the price drops and breaks below the 20-day EMA. That suggests that the bulls are losing control. The pair could then fall to the 50-day SMA.