Sui Price Prediction: 2024, 2025, 2030

SUI price prediction: Key highlights

1. Primary support and resistance levels

• On the daily chart, $1.01 acted as the highest price barrier.
• Meanwhile, the lowest support can be anticipated at $0.53.

2. Market sentiment

• As of September 2024, the market sentiment remains bearish.  

3. Predictive forecasts

• Our AI/ML predictive algorithms forecast that SUI's average price will exceed $2 in 2030 and $5 in 2035.

Get valuable insights on SUI through a comprehensive daily technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

SUI technical analysis: Profit-taking causes asset to lose $1 valuation

The Sui price prediction for 2024 reflects a volatile but clear trajectory, as observed from the analysis of the shorter time frame (STF). This period illustrated significant price movements and investor behavior, which are crucial for understanding the potential future trends of the SUI token.
 

The period began with the token struggling to reclaim $0.86. After a rejection in late July, red candles dominated the chart, driving SUI to $0.74. The bearish dominance did not let this standing hold. 

Furthermore, August’s beginning was no different. This wave of declines resulted from the market being flooded with new supply. As per TokenUnlocks, the network released 64.19 million SUI tokens.
 

Consequently, the token fell below the lowest analyzed support at $0.60, hitting its lowest price since late 2023. The token’s oversold state led to a swift rebound over this level. Moreover, Grayscale’s launch of an SUI fund triggered a positive market reaction.

Thus, the price surged to reclaim $0.74. The bullish uptick carried the token to the highest analyzed resistance at $1.01. AMBCrypto noted that the significant pushback at this high resistance zone and the long liquidations did not favor the odds of bulls breaking past this critical mark.

As investors realized profits, the price dipped below $0.86. The bulls remained focused on flipping this level, leading to a temporary surge over it. In late August, their combined efforts led to another price pump, which reclaimed this level.
 

Concurrently, the price retested the peak barrier. AMBCrypto reported that SUI’s adoption grew exponentially, propelling it to third place in Total Value Locked (TVL) among non-EVM chains.

This retest faced a similar setback. Furthermore, another 64.19 million tokens entered the market in September, exacerbating the selling pressure. The unfavorable market conditions prompted SUI to retest the $0.74 support. At the time of writing, it traded at $0.80. 

If history repeats and the current support fails, the recent gains can be lost. In this case, SUI can likely drop to find respite at $0.60. A continued southbound journey below this support may cause it to fall as low as $0.53.

Regardless, if the buyers defend $0.74, they can rally again. A move over the current resistance mark would give the bulls an upper hand. In an optimistic scenario, the price can trend upward to retest the $1.01 mark.

Amid all the short-term uncertainties, the token's long-term trajectory appears unhurried. Based on our predictive models, the altcoin's average value is projected to exceed $2 in 2030. Looking forward, it can likely surge to more than $5 in 2035.

SUI's 2024 roadmap: Key indicators to watch and trade

• The trading volume recovered from early August with buyer entry. After that, its movements correlated with the price.
• The Chaikin Money Flow (CMF) dropped below the zero line in late July. Its recovery in early and late August was unsustainable, and the indicator returned to negative values. At press time, the CMF stood at -0.13, indicating a substantial outflow of money. 
• After a brief positive uptick, the Moving Average Convergence Divergence (MACD) line dropped below the zero and signal line in late July. However, a bullish crossover was formed in the second week of August.
• Subsequently, both lines moved over the zero line. Their ascent reversed in late month, leading to a bearish crossover.  Furthermore, by September, the MACD line turned negative again. As per the latest observation, it stood at -0.0092, with the signal line and histogram at 0.0069 and -0.0160, respectively.