Sui (SUIUSD) Price Forecast: January 6
Today, the Sui sellers are holding back as it continues to make positive moves and looks promising at the $5.09 resistance value. The coin is experiencing a remarkable surge; if the bulls increase their pressure, the resistance level of $5.09 may not hold, and it may extend to a $5.20 upper high level and beyond, a significant test for buyers.
Key Levels:
Resistance Levels: $5.07, $5.08, $5.09
Support Levels: $3.16, $3.15, $3.14
SUI (USD) Long-term Trend: Bullish (Daily Chart)
Today, the Sui sellers are holding back, following the promising signs of recovery shown by the pair as the price remains pressured above the crucial level, indicating a significant upward trend.
The previous action at the $4.98 high level during the last session has enabled the coin sellers to hold back and sustained the coin price to remain above the trend line in its recent high. However, the coin market indicates sellers are holding back as it heads towards the upper channel.
The current price of the SUIUSD pair at the $5.09 resistance level above the EMA-50 as the daily chart opens today suggests that sellers are holding back on the coin, fueled by growing market confidence and a broader cryptocurrency uptrend.
Hence, if the bulls increase their confidence in the Sui investment, the coin market could see another uphill trend above the current level, attracting big players.
Additionally, if the coin buyers hold above the $5.09 high mark and close a candle, closing above the mentioned resistance will signal a potential BUY. As a result, the price could pump or surge upsides to hit the $5.80 upper resistance value as sellers continue holding back in its long-term outlook.
SUI (USD) Medium-term Trend: Bullish (4H Chart)
The Sui sellers are holding back as the crypto shows signs of recovery in its medium-term outlook. However, the bulls’ pressure to the $4.79 high value in the previous action has sustained the coin price above the resistance trend levels in its recent high.
The market price of SUIUSD is currently trading at the $5.08 supply level above the moving average line, implying sellers are holding back.
Further, the coin has recently experienced a price surge and might swing and break above its current value at $5.08 if further bearish pressure is restricted.
Hence, the daily signal indicates an uptrend; based on the outlook, should the bulls push higher and close above the $5.08 high mark, a post-retest rally may drive the prices high to hit the $5.80 resistance trend levels in the days ahead as sellers continue holding back in its medium-term perspective.
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