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- The price forecast of Sui Crypto looks within $ 2- $ 3 in the midst of stagnant demand.
- BTC Dominance, who rose to 64%, could derail the recovery of Sui.
Sky [SUI] Bulls have defended $ 2 support since March. At the moment, however, there was no sustainable demand from the spot market to guarantee a strong recovery.
So what is the next step for the Solana Killer?
Sui crypto price forecast
Source: Sui/USDT, TradingView
On the 24-hour graph, Sui held above $ 2, which doubled as the peak of March 2024 and the springboard for the last November pump.
Moreover, the level acted as a weekly bullish order block (Cyan). Simply put, $ 2 was a strong support on the higher schedules, and Bulls could try to defend it.
However, the question, as indicated by the RSI lecture, did not sketch a bullish image for the Altcoin in the short term.
It slid under 50 Mark and the weakening appetite for Sui could strengthen its short -term recovery perspectives.
That said, the accumulation/distribution -indicator became a crucial level and seemed to turn, a trend that could suggest a renewed interest in the Altcoin.
However, a RSI meeting above the neutral level can confirm this potential accumulation. As such, Sui could consolidate the progressive averages and $ 2.8.
In fact, the 50-EM (exponential advancing average, blue) has been an important resistance since February.
Stagnant market
Source: Coinalyze
Coinalyze data supported the potential accessible price action described above. In particular, as demonstrated by CVD (Cumulative Volume Delta) Spot, the Spotmarkt demand is facilitated and stagnated in April.
Speculative importance in the derivative segment also fluctuated tightly, as indicated by the OI (Open Interest) rate between $ 300 million and $ 340 million.
With Bitcoin -Dominance that rises to 64%, altcoins, such as Sui, can be limited in the meantime.
In conclusion, Sui could extend his reach -related price action between $ 2 and $ 3 in the short term.
The prospects were based on stagnating spot market demand and rising BTC -Dominance. Nevertheless, the accumulation/distribution indicator suggested that a likely reversal to the top could be in sight.
