💥 SUI’s next ‘altcoin season’ stop could be $5: Here’s why
❌ Key point:
Growing interest in altcoins could push SUI above the stiff overhead resistance at $4.30, setting up a rally to $5.
Bitcoin (BTC) has been consolidating after hitting the all-time high of $123,218. Although BTC has not given up much ground, its falling dominance of the total crypto market capitalization shows that money is flowing into altcoins.
Will Sui (SUI) be one of the beneficiaries this altseason? Let’s analyze the charts to find out.
SUI price prediction
SUI picked up momentum after breaking above the 50-day simple moving average (SMA) ($3.10) on July 10.
The up move has reached near the overhead resistance of $4.30, where the sellers are expected to mount a strong defense. There is support at $3.81 and then at the 20-day exponential moving average (EMA) ($3.37). If the price rebounds off the 20-day EMA, the bulls will again attempt to drive the SUI/USDT pair above $4.30. If they manage to do that, the pair could surge to $5 and eventually to $5.37.
This optimistic view will be negated in the near term if the price turns down and breaks below the 20-day EMA. That suggests the bulls are losing their grip. The pair may then drop to the 50-day SMA.
