Overview:
SUI coin one-year reading for 2024
Status: January 6th, 2024 7:49 p.m. Eastern time, reading price is $.84068.
Behavioral Trends in 2024:
The overall theme and behavior for Sui in 2024 are similar to many 2024 readings, featuring several back-and-forth movements between highs and lows. There is sideways rotation along key support on a multi-day scale that ends with a fast move higher.
There is one prominent move higher on a one-year chart scale followed shortly by a full retracement of that move, creating a triangular shape. This could be the same as the fastest move higher that ends the period of sideways rotation, another move, or both. This pattern will be observed at least once.
Behavior around the highest high:
Behavior around the highest high includes a significant cross-reading congruency. There will be a lot of price changes to and from the highest price level. This resistance level at the highest high will be visited multiple times, allowing for trading in both directions at separate times around that price level.
Behavior around the lowest low:
Behavior around the lowest low involves erratic behavior, moving back and forth through the same price levels on a multi-year or one-year chart scale. The low will be revisited multiple times within this erratic behavior.
It’s important to understand that timing in a one-year reading may require plus or minus two weeks of wiggle room. Each period represents about two weeks in 2024, but the energy of each period may not align perfectly. In many cases, the timing will be accurate, but some cases will require a bit of flexibility.
Starting the year, there is an important cash-out opportunity, indicating the lowest low thus far and a prominent high or highest high thus far.
Monthly Overview:
JANUARY:
In January, there is probably a lot of price change early on, with sideways rotation and possibly a low in early to mid-January. An unexpected move to the upside out of the low along a diagonal trend line breaks through horizontal resistance on a multi-day scale to meet a second resistance before pulling back to somewhere between those two price levels.
In the later part of January, there is a sharp drop back into significant troughs for the year, with sideways rotation and another sharp drop.
FEBRUARY:
Out of that low, there is a “pop and drop” with a big move higher. A prominent crest occurs towards the later part of February. On the cusp of February and March, there might be a prominent peak on a one-year chart scale, presenting an important opportunity.
February features a trade opportunity around the cusp of February and March, as well as trade opportunities early on in January. The behavior near the March high is mixed, with a likely move higher out of February into a peak.
MARCH:
In early March, there is a peak followed by a decline. This period features sideways rotation along a key support level on a one-year chart scale. From this peak in early March, mixed behavior follows. Later in March, the market returns to another prominent peak or a slightly lower peak.
A notable reversal and trade opportunity arose out of the March low, with a big move reaching for distant resistance. The March high is likely seen more than once, with a crest on the cusp of March.
APRIL:
In April, there is a sideways fluctuating rally which covers a lot of ground, moving from a trough early in April to a peak in the later part of April. This peak forms with the sideways fluctuating rally and then a fast sudden move higher that ends the rally along a diagonal trend line. A breakdown through that diagonal trend line follows, with increasing volatility on the way down, taking the market back into a prominent trough around the cusp of April and May or mid-May.
The April low involves a significant fake-out shake-out, indicating it might look like the market will continue to go lower, but it turns around instead. Support is established near this prominent drop.
MAY:
Early in May, there is a trough followed by a big move higher, standing out on a one-year chart scale, followed by sideways rotation at a higher price level. An important resistance near the May high, which has been met many times before and failed to break through, is highlighted. From that resistance, there is a notable decline on a one-year chart scale, taking the market into a prominent trough in the later part of May.
Near the May low, there should be a period of sideways bumping along resistance, possibly breaking through and then bumping along sideways. There is a trough early in May, a trough midway through May, and a peak on the cusp of May and June. Following that, a big move out of the May trough takes the market from the bottom of a range to the top of a range on a multi-day or one-year chart scale.
JUNE:
In early June, there is a peak followed by a sell-off down through support, a U-shaped reversal below that support, and a return to reuse it as support. This behavior characterizes the June high.
In the later part of June, a decline increases with momentum, moving into a prominent trough on a one-year chart scale. The June low will be in close proximity to a prominent peak for the year and will form due to the halting of a bullish trend marked by a sharp decline through key support. The June low is probably in the later part of June.
JULY:
In early July, there is a prominent move higher on a one-year chart scale, followed by a full retracement. The market moves higher through key resistance on a one-year chart scale, stays above it briefly, and then breaks back down through it at the same price level shortly after. This occurs in the early to mid-part of July.
Behavior around the July low includes three crisscrosses back and forth through the same price level, with the third crossing to the upside confirming a bullish trend. The July low is likely to be seen twice, with the market coming out of it, going back down, and then coming out of it again. This pattern occurs early in the month, then up through it, back down through it, and up through it again in the later part of the month.
A peak is expected in the later part of the month. An important resistance level is highlighted in the later part of July, where the market flattens out and successfully turns that resistance into support.
AUGUST:
In the earlier part of August, there is another prominent peak on a one-year chart scale. In the later part of August, a period of volatility near the August high ends with a fast move higher, taking the market into the August high.
There is a failed attempt to break through key resistance, followed by a decline through key support from a prominent peak in the later part of August. This leads to a prominent trough and significant price change from an important price level. The later part of August sees a lot of price change, down through multiple support levels into a prominent trough on a one-year chart scale.
SEPTEMEBER:
For September’s low, an important support level on a one-year chart scale, possibly a multi-year scale, will be seen. There are more trade opportunities during this time.
Mixed behavior is expected in the later part of September, with sideways fluidity and equal amounts of bulls and bears, inflow and outflow, resulting in up and down, back and forth movement, but essentially moving sideways. There is a prominent peak likely on the cusp of September.
The September high forms a brief peak that can easily be missed, followed by a decline through multiple support levels. This September high will be a prominent peak on a one-year chart scale. There’s a peak on the cusp of September and October, followed by a slightly higher peak.
OCTOBER:
In the earlier part of October, there is a slightly higher peak, followed by an even higher peak in mid-October, and an even higher peak a little later in October. There is a fast sudden move higher out of a trough in the early part of October, pushing the end of a range higher to reach the October high.
A notable decline to a prominent trough occurs towards the later part of October.
NOVEMBER:
In November, there is a big move out of the October low, with an important support level on a one-year chart scale near the October low. The later part of October may feature sideways rotation or tricky chart behavior, such as multiple false tops or bottoms.
In the early part of November, a period of volatility and a sharp drop stands out. There is a failed attempt to break through key resistance at a prominent peak in mid-November. This failed attempt happens at the November high, where technicals suggest a breakthrough, but instead, the market declines through key support established in early October.
The November low forms out of this decline, ending with a fast sudden move higher, taking the market to a prominent peak. The high and low for November are both within close time proximity to a high and low on a one-year chart scale. In the mid to later part of November, there is a rally into resistance followed by a decline with consecutively lower peaks on the way down.
DECEMBER:
In early December, there is an important peak or resistance level at the upper end of a range, which will be a significant technical price level on a multi-year scale and near a prominent peak on a one-year chart scale. This near-overbought crest will be sold off from multiple support levels. There will be three pokes through this important price level, followed by a sharp drop taking the market into the low.
In the later part of December, a rally increases with momentum moving forward in time.
Sneak Preview for 2025
2025 is expected to feature a significant move higher, sometimes out of oversold territory. This indicates a notable move to the upside in 2025.
Market Trends in 2024
The year 2024 is expected to have several key market movements. In April, there is a trade opportunity highlighted by the highest highs and lowest lows, indicating potential for strategic trading. The lowest lows are expected around January and February, and these may be seen twice during the year. A prominent peak is likely in February-March, followed by a drop that does not return to the lows seen earlier in the year.
Highs and Lows in 2024
A significant high is expected in February-March, which may be similar to a later high in the year. Lowest lows are projected for early May, late May, and possibly in June or July. Prominent peaks will follow, but these may not be the highest highs of the year. Declines from these peaks in August into a lowest low in September are expected, with these lows likely being revisited in October-November.
Strategic Trading Opportunities
From a multi-year standpoint, it is advisable to identify key resistance near the highs to trade around. Once established, these can be used for exiting long positions and entering short positions. The highest probable locations for highs are in April and October-November, with lows in January-February, May, June, July and October-November.
Performance of SUI Coin in 2024
SUI Coin is expected to outperform Bitcoin significantly in 2024. The coin’s performance throughout the year will be marked by strategic highs and lows, providing numerous opportunities for profitable trading.
Conclusion
The market trends for 2024 and the sneak preview for 2025 suggest significant movements in cryptocurrency prices, particularly for SUI coins. Strategic positioning and monitoring of key highs and lows can help in making profitable trading decisions.