Sui (SUIUSD) Price Forecast: October 8
The Sui market might further bounce up to the upper high level as the pair returns in the green again, anticipating more increases. The coin may bounce up to the upper supply level as it faces increasing buying pressure. However, the potential breakout from the immediate resistance of $1.93 will suggest additional confirmation for a bullish recovery, if the bulls could ginger their efforts in the market.
Key Levels:
Resistance Levels: $1.600, $1.700, $1.8.00
Support Levels: $0.600, $0.500, $0.400
Sui (USD) Long-term Trend: Bullish (Daily Chart)
The long-term market value of Sui is moving in a bullish direction to further bounce up to the upper level in its higher time frame. The price bar is above the resistance levels, indicating a bullish trend.
The increase in momentum by the bulls to a $1.82 high level in the last few days has made it possible for the coin price to further bounce up and stay above the supply trend line in its recent high.
After completing yesterday’s lows at the $1.68 level, the market price of SUIUSD further bounces up to the $1.80 high level above the moving averages as the daily chart opens today, implying promising growth ahead.
Thus, a breakout above the $1.82 previous swing high would suggest a buying signal for buyers to regain control and potentially bounce up toward the upper resistance area.
Additionally, the price of SUIUSD might increase further if the bulls could push harder, if this is achieved, the coin price might further bounce up to reach the $2.00 upper resistance level and beyond soon in its higher time frame.
Sui (USD) Medium-term Trend: Bullish (4H Chart)
The SUIUSD pair is about to further bounce up to the upper level as it anticipates more increase in the medium term. The price currently trades above the moving averages, indicating a bullish trend.
The increase in the momentum by the bulls at the $1.75 supply value in the last few hours has enabled the Sui price to further bounce up above the resistance lines in its recent high.
The coin price on the 4-hourly chart today further bounced up to the $1.80 correction level, suggesting a high bullish impact on the crypto. Further, the rising prices reclaimed more confirmation for a bullish recovery.
Hence, should the buying pressure persist, and the bulls further bounce up and close the 4-hour chart above the $1.82 high mark, the ongoing recovery could lead the market price of Sui to remain stable at the upside and stop any further bearish moves.
Furthermore, the daily stochastic signals an uptrend, if the bulls could push harder and sustain the coin price above the current price at the $1.80 resistance value, the resulting rally may further bounce up to hit the $2.00 upper resistance level in the day ahead in its medium-term perspective.
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