SUI Price Forecast: SUIUSD Lurks at $2.40

SUI Market Analysis – April 3

SUIUSD has invalidated its bullish trendline, which had previously provided support throughout January. This breakdown led to the formation of the ongoing bearish trend, pushing the price lower. However, the downward movement has paused as SUIUSD reaches the critical support level of $2.40, where buyers may attempt to regain control.

SUIUSD Key Levels

Demand Zone: $2.40, $1.60
Supply Zone: $4.30, $5.20

SUIUSD Long-Term Trend: Bearish

SUI experienced a failure swing in January, signaling weakness in the prior uptrend. At the same time, the Lorentizan Machine Learning classification indicator displayed a bearish signal, marked by a red tag and a shift in the hue of the average string to red. This reinforced the bearish transition even before the trend was firmly established. The consistent formation of lower highs and lower lows has since confirmed the extended bearish phase.

SUI Price Forecast: SUIUSD Outlook

Following the shift in market structure in January, SUIUSD continued to post lower highs and lower lows, dragging the price toward $2.40. The downward movement remained intact, guided by a resistance trendline. Upon reaching the critical $2.40 level, the price decline has stalled, signaling a potential area of demand where buyers may step in. However, without strong bullish momentum, the risk of further downside remains.

SUIUSD Short-Term Trend: Bearish

With the downward momentum temporarily halted at $2.40, the bearish trendline has now been invalidated. The price is currently consolidating, moving sideways as it struggles to establish a new direction. A swing high has formed due to the pause in selling pressure.

A breakout above this swing high could trigger a price reversal, offering a bullish recovery attempt. However, the price has since retreated back to the demand level from the swing high, indicating a potential continuation of the bearish trend if buyers fail to sustain upward pressure.

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