SUI coin price started this week strong, fostering hopes for a recovery in SUI crypto.
This follows Bitcoin’s bullish reaction yesterday at the key support level of $92,000. Sui increased by 10%, from $4.29 to $4.76. Bitcoin price held steady overnight, but Sui was unable to do so and fell 4.3%.
Today Bitcoin .cwp-coin-chart path svg { trait: ; line width: ; }
Price
Trading volume in 24 hours
Last price movement over 7 days
rose another 2.5% while Sui was only able to return to yesterday’s high of $4.70. This is our initial analysis: Bitcoin looks stronger.
#BITCOIN the hunt for liquidity could not shake us
Revisit the price action:
You were prepared. I presented the complete plan and scenarios on how to act on price developments.
Ultimately, we closed above the $92.5k neckline and above range support, a major key level.However,… pic.twitter.com/ap6bvsCO1m
-ANBESSA (@Anbessa100) January 14, 2025
Revisit the price action:Why are we talking about Bitcoin? Well, here’s what I think: Once BTC resumes its uptrend, alts will reach new all-time highs. But first, we need Bitcoin to find support. That’s why we monitor it as well.
Here is another article on X, which looks at the market capitalization of altcoins:
Holding the line – close the week above the gray zone and all-time highs will be next. pic.twitter.com/CYVB8UbNbu
– Jelle (@CryptoJelleNL) January 14, 2025
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SUI Coin Price Analysis: Is SUI Crypto Heading for a Recovery?
These two X articles are bullish on crypto, but are we at a point where we should get our hopes up? Let’s look at the graphs.
(BTCUSDT)
We will discuss what happened to the BTC price after the green arrow. If you haven’t read the previous article, which has the green arrow, you can do so here.
After the green arrow we see that the price has declined to the current support. Then I came back and got rejected from MA100 (green). Then, it broke below the support at $92,000 – below $90,000 and quickly moved above the support line.
Now it has tested the MA200 (red), which is confluent with the last low we broke below – MSB – and these levels form the current resistance at $97,000. Will the purple box be tested? I don’t know, but it’s possible as long as we stay under this resistance.
(SUIUSDT)
Back to the price of SUI coins: on the 4H chart, we see something like a double top. I considered shorting the second one at around $5.20, but was too scared to do so. Invalidation would exceed the previous high – a very clear level. Now I wish I had a short circuit.
On this chart we see that we are below all MAs. Yesterday we bounced back to the annual Open – a thick purple line in the purple box. The box itself is the block of bullish orders formed ahead of the New Year pump. These are our key levels to watch.
(SUIUSDT)
Finally, we look at the 12-hour chart with a Fibonacci retracement starting from the Trump election pump. The levels align quite well throughout the movement, which is important when drawing Fib levels. The analysis here tells us that MA100 served as support on six occasions.
We see all Fib levels tested except 0.786, which could remain untested. It makes no sense for the price to drop below 200 MA.
I think 0.382 or even a drop to 0.5 is possible, as this correlates with MA200. This is the lowest level I would like to see the price of SUI coins drop.
Until then, all of crypto is hanging on and waiting for Bitcoin to find support and continue to rise – with the arrival of the CPI and a new president along the way. SUI is one of the strongest alts and could accumulate in an ascending channel.
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