- Altcoin SUI holds firmly at the weekly support zone.
- Analysts mark this as the calm before the storm.
- SUI at $0.6 could be the perfect entry before an explosive upwards move.
As the month of August passes its midway point, anticipation over the long-awaited altseason peak phase continues to grow. At the moment, many altcoins are showing strength despite dipping to lower prices. For instance, altcoin SUI holds firmly at the weekly support zone and analysts mark this phase to be the calm before the storm. In particular, they expect SUI price to rise exponentially.
Altcoin SUI Holds Firmly at the Weekly Support Zone
According to CoinMarketCap analytics, the price of SUI is currently trading at the $0.6 price range, showing that the asset is down by only 0.04% over the last 24 hours. However, in terms of 7 days and 30 days the asset is down by just over 2% and 8% during these time periods. The asset will need a major pump to reclaim its previous ATH price range at the $5.35 price area.
Ever since this ATH was met several months ago, the price of SUI has been declining at an unprecedented rate facing rejection after rejection, leading its lows to keep getting lower. From the highs, every bounce has been a selling opportunity with $3.00 rejected, $2.10 rejected, $1.40 rejected, and now the $0.85 zone has also failed to hold. The structure is pointing towards the major support at $0.61 as the next destination and the projected path suggests price may sweep below that level before finding genuine buyers.
According to one analyst and expert, this is only the quiet before the storm for SUI. In fact, as explained in the post above, the expert marks this area to be the entry point. While she markes how SUI is holding firm at the weekly support zone, the asset’s price action may appear dull, but what’s happening beneath the surface is anything but, she concludes. SUI has set several milestones already and it is only a matter of time before this success will be reflected onto its price.
Analysts Mark This the Calm Before the Storm
The analyst goes on to share 4 crucial bull targets for SUI, which will bring the price of SUI much closer to its previous ATH price. These targets start from $0.77 and $1.10 to $2 and $4.5. With SUI and many other altcoins sitting at major support levels at the moment, the crypto community is certain that the altseason peak phase is just on the precipice of a massive bullish explosion.
Similar forecasts and predictions are being shared across the crypto space. In fact, many remain highly bullish like the analyst in the post above who says that SUI will soon surge back up to its previous ATH at the $5.35 price area. Additionally, he states that SUI shows potential to possibly set new ATH targets as well.
