Sui price prediction – Altcoin’s extended recovery depends on…

• SUI has been in a sideways sideway structure for the past ten days. 
• The altcoin hit a short-term supply zone near $4.  

Since the liquidation cascade on the 3rd of February, Sui [SUI] has fluctuated between $3 and $4. This has allowed traders to bag over 20% gains in either direction, whether shorting or going long at the range of highs or lows. 

As Bitcoin [BTC] remains in a choppy zone, will SUI’s sideway structure extend, or can it top the $4 level? 

SUI hits a short-term supply zone

On the daily chart, the recent SUI recovery hit the short-term supply zone (red), just below $4. This supply zone aligned with key moving averages, reinforcing it as a likely profit-taking area for swing traders.

Given the daily RSI was below average, SUI could retrace from the $3.5-$4 area to $3 again, especially if BTC remains choppy between $94K-$100K.

However, the lower timeframe painted a different picture. The 4-hour chart showed bullish price action above key moving averages for the first time since late January.

While this suggested potential uptrend momentum in the lower timeframe, the extended recovery could be capped at $4 or $4.28 if BTC fails to surge beyond $100K.

Will SUI blast $4?

Market makers typically hunt for liquidity and influence price action. A similar scenario was evident with SUI, as seen by the price action tapping yellow levels (high liquidation zones).

On the 2-week chart, the key liquidation zones were at $2.8, $3.4, $4, and $4.3. Since $3.4 and $4 are the closest pools within the current price action, they could be hit first. If so, SUI could top $4, but the extended recovery could depend on BTC’s uptrend.

Alternatively, the support area below $3 could be retested if another bearish move hits the market.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion