Sui (SUI) Price Prediction 2024-2030: Will SUI Price Hit $10 Soon?

• SUI’s price analysis showed that the token might hit $7.50 by the end of 2024.
• In 2026, the price of SUI might hit double-digits and trade at $12.25.
• Before 2030, SUI might endure a bearish phase but the price prediction for the year remains $22.

Scalable L1 blockchains are a rare breed in the crypto sector. But they still exist as development continues to be better within the space. One of the projects dominating that segment is Sui (SUI) which launched in 2023.

Sui has had its own share of struggles. However, recent data showed that the project might be finding solutions to those challenges. In this article, Coin Edition explains the basis behind Sui. We also look at its price performance and predictions from 2024 to 2030.

Sui (SUI) Real Time Market Status

What is Sui (SUI)?

Sui is a Layer-1 blockchain developed by Mysten Labs. With Sui, users can access low-latency transactions and higher throughput. Developers also have things they gain from the project. For example, Sui’s object-oriented design ensures that developers can build web3 applications on the network.

This is done with the help of the Zero-Knowledge (ZK) proof. Interestingly, Sui employs the Move programming language just like Aptos (APT). The programming language helps developers build smart contracts faster, and users can avoid some of the lingering challenges on other blockchain infrastructures.

Sui has a downloadable wallet that uses the ZK cryptography to ensure seamless transactions. Regarding security, the blockchain engages the Proof-of-Stake (PoS) consensus mechanism. This helps prevent the network from attacks that could affect delegators or validators on the chain.

SUI Current Market Status

Sui is ranked as the 52nd most valuable project in terms of market cap. As of this writing, the project’s market cap was $2.54 billion. In the last 24 hours, the trading volume of SUI was $732.16 million, representing a 133% hike.

Like the trading volume, SUI’s price also increased. At press time, the value of the cryptocurrency was $2.06, indicating a 16.43% hike within the last day. SUI has a maximum and total supply of 10 billion tokens.

But out of that number, only 1.23 billion were in circulation. This implies that the project would still release more tokens as others are getting bought. SUI can be bought on different exchanges including Coinbase, Binance, Kraken, Bitfinex, and OKX.

Sui (SUI) Price Analysis

When SUI launched, the price nosedived for many days as there was a lot of FUD around the project. However, the last 90 days have been exceptional for the token as its value has increased by a whopping 148%. 

But will the price continue to rise? Let’s find out as we analyze the token from a technical perspective. Here, you will also learn about the price prediction for the years 2024 to 2030.

Sui (SUI) Price Analysis – Bollinger Bands

As of this writing, the Bollinger Bands (BB) indicated that volatility around SUI was high. Furthermore, the upper band of the BB hit the price when it was $2.06, suggesting that the token was overbought.

As a result, SUI’s price decreased and was on the verge of dropping below $2. If the price declines to $1.81, then the bullish bias will be invalidated. However, an increase in buying pressure could trigger a bounce that could see SUI retest $2.06.

Sui (SUI) Price Analysis- Relative Strength Index

Signals from the Relative Strength Index (RSI) showed that SUI was previously overbought. Like the Bollinger Bands, the RSI reading was one of the reasons the price retraced.

However, the indicator remained in the buying zone, hinting at the sustenance of the bullish dominance. In a highly bullish circumstance, the value of SUI might rally toward $2.10. However, if buying momentum continues to decline, the price of the cryptocurrency might nosedive to $1.77.

Sui (SUI) Price Analysis – Moving Average Convergence Divergence

The Moving Average Convergence Divergence (MACD) reading was positive at press time. The positive value of the MACD was a testament to the increasing upward momentum, SUI had experienced.

Furthermore, the 12 EMA (blue) crossed over the 26 EMA (orange), indicating that buyers had not lost out to sellers. However, the 26 EMA followed the same trend as its opposite number. Should this continue, the bullish momentum might become weak and SUI might decrease further.

Sui (SUI) Price Prediction 2024

Instead of the 4-hour chart, Coin Edition engaged the daily timeframe to evaluate SUI’s price prediction in 2024. The first indicator we checked was the On Balance Volume (OBV). At press time, the OBV displayed a signal hinting a positive volume pressure.

This reading implied that there have been more buy orders than selling ones. In the mid-term, a rise in the OBV could fuel a higher value for SUI. Apart from the OBV, the Supertrend was another indicator Coin Edition considered.

At press time, the Super trend indicated a buy signal at $1.41. If selling pressure increases, SUI’s price might retrace to this point. But traders who accumulate at this level might enjoy extended gains. By December 2024, the price of SUI might hit $7.50.

Sui (SUI) Price Prediction – Resistance and Support Levels

On March 24, bulls capitalized on sellers’ exhaustion, and created a support for SUI at $1.62. Because of this, the price of the token rallied to $1.73 where it faced resistance.

However, it did not take a long while before bulls were able to clear the hurdle, as SUI rose to $1.88. At this region, another resistance appeared. But the buying pressure quickly changed that to support, helping SUI climb above $2.

With the current market structure, SUI might face an overhead resistance at $2.05 if bulls attempt to push the price higher. If the attempt is successful, then SUI might hit $2.10. On the other hand, if it proves to be abortive, the price might drop to $1.81.

Sui (SUI) Price Prediction 2025

Sui’s ability to process faster transactions than most L1s could be the reason the network might gain a lot of traction. If traction increases, then the adoption of its native token might also surge. In 2025, the price of SUI might hit $10 as a result.

Sui (SUI) Price Prediction 2026

By 2026, it is expected that many projects integrate the Move programming language. Should this be the case, Sui’s community might hit impressive numbers, and many investors might decide to buy a piece of the cryptocurrency. Therefore, the value of SUI can hit $12.25 in 2026.

Sui (SUI) Price Prediction 2027

The price of SUI might be hit hard by a correction in 2027. If this is the case, the value of the token might drop lower than the highest of 2024. This places the price prediction at $5.50.

Sui (SUI) Price Prediction 2028

In 2028, SUI might recover from the likely bear market of 2027. Also, development activity on the network might have increased as code commits to the project is something it holds in high esteem. Before the end of 2028, SUI’s price could be $8.73.

Sui (SUI) Price Prediction 2029

The value of the cryptocurrency might hit $14 in 2029. While there could be a number of reasons for this projection, the top one is the fact that an altcoin season might happen around then, and SUI might not be left out of the rally.

Sui (SUI) Price Prediction 2030

SUI’ price prediciton for 2030 is $22. As we mentioned in the 2029 price prediction, there might be an altcoin season then. But this season might last more than one year. Therefore, the price of SU might get close to double what it was the previous year. 

Sui (SUI) Price Prediction 2040

2040 is a long time to forecast what could happen to a cryptocurrency. However, the fundamentals backing SUI make it a token that would remain relevant in years to come. In 2040, the price of SUI could hit $34.38

Sui (SUI) Price Prediction 2050

By 2050, the maximum price SUI can hit is $40.50. This might be due to many factors like the global adoption of cryptocurrencies and a surging market capitalization worth billions of dollars.

Conclusion

Finally, Sui, despite being a project launched less than a year ago, has shown its capabilities to be useful to the crypto community in the long run. As per its native cryptocurrency, the price might rise higher than the current value.

But that would not happen without some downturn. If you plan to profit from SUI in 2024, now might be the right time to start looking for good entries. However, long-term buyers of the token might accumulate at their preferred prices.

FAQs

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.