Sui (SUIUSD) Price Forecast: October 12
The Sui price has seen a sharp increase recently as it maintains strength above supply trend levels following a recent market correction. The crypto is showing positive signs above the $1.930 supply value. With sustained investors’ enthusiasm, the crypto price could reach as high as $2.168 and extend to the $2.25 upper resistance value, suggesting long-term recovery.
Key Levels:
Resistance Levels: $1.900, $2.100, $2.200
Support Levels: $0.700, $0.600, $0.500
Sui (USD) Long-term Trend: Bullish (Daily Chart)
The rising interest in the SUIUSD pair has made it maintain strength above the supply trend levels in its long-term outlook. The price bars are trading above the moving average and trending toward the upper resistance area, suggesting an uptrend.
The persistent bullish pressure to the $1.833 resistance level in the previous action has made the Sui market maintain strength above supply levels in its recent high.
At the press time, the Sui price maintains strength above the supply levels at the $2.076 high mark above the EMA-50 as the journey up north continues after the daily chart opens today, indicating long-term sustainability and recovery prospects.
A spike in investors’ interest might lead the price of SUIUSD to retest the previous high of $2.168 high mark, as the market maintains strength above supply trend levels.
Hence, the Sui market remains in an uptrend on the daily stochastic, indicating that the price will continue to maintain strength above supply levels. As a result, the next price target might hit the $2.225 supply trend mark, as the crypto maintains strength above the supply trend levels in its long-term perspective.
Sui (USD) Medium-term Trend: Bullish (4H Chart)
The SUIUSD market depicts a beautiful bullish continuation pattern as it maintains strength above the supply trend levels due to a high investor interest in the coin in its medium-term view. The price currently trades above the moving averages, affirming its bullish trend.
The bullish impact on the crypto to the $1.848 supply level in the past session has made it possible for the crypto price to maintain its strength above the supply levels in its recent high.
Today, the increase in buying momentum has made the Sui market maintain its strength above the supply levels at $2.076 as the 4-hourly session resumes.
Hence, a potential breakout to hit the $2.168 resistance point could bolster the momentum and target the overhead resistance.
Additionally, the daily stochastic remains upward, implying that the Sui price may continue with the uptick trend above the supply level.
Therefore, if the coin buyers break above the $2.168 previous supply trend line, the market participants may witness a new recovery rally to the $2.225 high mark in the days ahead, as the crypto price maintains strength above supply trend levels in its medium-term time frame.
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