Sui Price Prediction: SUI Surges 13% In A Week Despite Escalating Middle East Tensions As Experts Say This Is The Best Crypto To Buy Now
The Sui price surged 13% in a week despite dropping 3% in the last 24 hours to trade at $1.90 as of 03:24 a.m. EST on trading volume that fell 16% to $1.4 billion.
This comes as Bitcoin and many other cryptocurrencies slump amid concerns over rising tensions in the Middle East as Israel vows to make Iran pay for a missile attack, dampening optimism over a possible Uptober bull run.
Sui Price To Continue Soaring
The Sui price has been on a sustained bullish rally, as the bulls took advantage of the consolidation phase within the $0.85 range, according to data from GeckoTerminal .
The trend, since mid-September, resulted in the price of Sui trading within a rising channel pattern as the bulls aim to sustain the trend.
SUI now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the sustained bullish trend.
Moreover, the Relative Strength Index (RSI) is moving towards the overbought region, currently at 56, indicating that the bulls are initiating a buying campaign.
The Moving Average Convergence Divergence (MACD) also trades above the neutral line, showing that the price of Sui is still on a sustained bullish stance. The blue MACD line also crosses above the orange signal line, confirming that the token is on a positive momentum to the upside.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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