• Sui (SUI) is a smart contract platform with native token called SUI, used to pay for gas.
• A descending triangle pattern is laid out on the chart of Sui (SUI). This pattern can be either bullish or bearish.
• The price of SUI might reach the resistance levels of $1.1259, $1.2219 and $1.3512 if it continues in its current trend, while it may fall to the support of $1.0071 if it reverses trend.
What is Sui (SUI)?
Sui is a smart contract platform maintained by a permissionless set of validators that play a role similar to validators or miners in other blockchain systems. It has a native token called SUI, used to pay for gas, and users can stake their SUI tokens with validators in a Delegated Proof-of-Stake model within an epoch. It takes a significant leap in scalability by enabling parallel agreement on casually independent transactions.
Sui (SUI) Current Market Status
The current price of Sui (SUI) was recorded at $1.1174 with 24 – hour trading volume being $232,390,317 and 24 – hour price change being 6.36% up from its all time high of $1.72 on May 03rd 2023 .
Sui (SUI) Price Prediction 2023
The overview of the Sui price prediction for 2023 has been explained below with daily time frame: A descending triangle pattern is laid out on the chart which can be interpreted as either bullish or bearish signal depending upon which way it breaks out from the triangle’s boundaries . The predicted resistance levels are $1.1259 ,$ 1 .2219 and $ 1 .3512 respectively while the support level stands at$ 1 .0071 .
Bullish & Bearish Predictions
Bullish predictions suggest that the SUI price could reach up to $1 .1488 -$ 1 .3472 whereas bearish predictions suggest that it may fall down to 0 .9084 according to our analysis and research done on this cryptocurrency’s market trends and fluctuations in prices over time period mentioned above..
In conclusion , we can say that despite positive as well as negative predictions made related to Sui’s future performance , investors should keep an eye out for more information related to this cryptocurrency before making any investment decisions so as not risk any losses due unforeseen market changes or fluctuations beyond our control