SUI/USDT Technical Analysis Chart Overview in Long Term

30 oct 2023

SUI Chart Analysis Overview

Strong Returns from Lows
SUI currently trades around $0.46, after recently bottoming at $0.3620. This marks a 4.6x increase from its ICO price of $0.10.

The all-time high for SUI was $1.60, representing a 16x ROI from the ICO. This shows SUI's ability to post outsized returns during bullish momentum.

Attractive Entry Zone
Even after the 4x bounce from recent lows, SUI still sits 70% below its all-time high. This suggests the $0.45-$0.40 zone is an attractive area to start scaling into a position.

Initial upside targets based on technicals and prior resistance levels are $0.62, $0.97, and $1.42.

Preparing for the Next Bull Run
If SUI can repeat or exceed its performance from the previous bull market, a rally back to its ATH of $1.60 is reasonable.

I also see potential for SUI to reach the $5 level in the next sustained crypto bull run based on its upside history.

Managing Risk
While the opportunity in SUI appears promising, proper risk management is always essential. Never invest too heavily in one asset. Keep position sizing modest and diversify across a basket of opportunities.