Sui (SUIUSD) Price Forecast: October 5
The Sui market price is going upward at the moment and might break up at the $1.93 supply level soon. The crypto has seen a gradual increase in value over a period coinciding with the asset’s growth. Thus, a daily candlestick above the mentioned supply level would invalidate any bearish theory. As a result, if buyers can exert more effort in their market tension, the trend could shift upward to reach the $2.00 upper resistance level, suggesting a bullish continuation.
Key Levels:
Resistance Levels: $1.50, $1.60, $1.70
Support Levels: $0.70, $0.60, $0.50
Sui (USD) Long-term Trend: Bullish (Daily Chart)
The Sui market remains bullish and could soar to break up at the $1.93 trend level as it continues to trend above the supply levels in its higher time frame. This is evident as we can see the prices trading above the EMA-50.
The bulls’ persistent pressure on the coin to the $1.85 supply value in the last few days has sustained the coin price break up at the resistance trend levels in its recent high.
After completing yesterday’s low of $1.60, the buy traders pushed the market price of SUIUSD up to the $1.72 resistance value above the EMA-50 shortly after the daily chart opened today, indicating a renewed interest from the coin buyers. Thus, a break up above the $1.93 high mark would intensify the buying pressure on the crypto.
Further, the market price of Sui is pointing up on the daily stochastic; suggesting that the momentum in the coin price will likely remain and continue in an upward move to break up at the $1.93 level and extend to a $2.00 upper resistance level in the days ahead in its medium-term time frame.
Sui (USD) Medium-term Trend: Bearish (4H Chart)
The momentum on the medium-term view appears bearish, but it is beginning to turn bullish and could break up at $1.93, as shown by the chart. The SUIUSD price is currently trading at a resistance close to the EMA-50, indicating a bearish trend. So, it appears that the bulls are about to take control and push us higher.
The order flow by the short-term traders at the $1.65 low value during the last session has made the coin price reduce a bit in price in its recent price level.
However, the SUIUSD price could break up at the $1.93 level soon as the bulls pushed the coin price to a $1.70 high point below the EMA-50 at the writing time today.
Hence, with sustained buying, the price of Sui may break up at $1.93 supply strength and set the potential for further growth.
Meanwhile, the market is pointing up in the oversold region, suggesting a possible breakup soon. In light of this, new investors are expected to emerge and push the market price of SUIUSD up to a significant level, and this may break up at $1.93 to reach the $2.00 upper high level in the days ahead in its higher time frame.
Buy Sui on Longhornfx
Leave a Reply