SUI Price Forecast: SUIUSD Recoils Back Above $3.2845

SUI Price Forecast: February 5

The SUI price forecast suggests that the market is at a decisive point at $3.2845. Bulls could use this level as a foundation for further gains, but a break below it would shift momentum in favor of the bears.

SUI Long-Term Trend: Ranging (1-Day Chart)
Key Levels:

Resistance Levels: $5.3640, $4.3000, $3.9660
Support Levels: $3.2845, $2.3854, $1.7629
The SUI crypto experienced an upward trend from the last quarter of 2024 until mid-January. However, by January 22, the bulls lost control of the market’s momentum, leading to a price decline below its rising trendline, reaching as low as $2.3854. Despite this setback, the market has rebounded and climbed back to a crucial level at $3.2845.

SUI Price Forecast: SUI/USD Outlook

The $3.2845 key level plays a vital role in the market. It previously acted as a support point, stabilizing the price surge from $1.7630 in November before the coin continued its ascent.

When the price fell below the rising trendline, it initially halted at $1.7630 before bearish pressure drove it even lower. The Moving Average (MA) Period 20 is currently positioned above the daily candles, reflecting the impact of the decline from $4.3000.

The Momentum indicator first turned negative after the rejection at $5.3640 and has remained in negative territory. However, the recent price increase is beginning to push it higher.

SUI Medium-Term Trend: Bullish (4-Hour Chart)

After climbing above $3.2845, the market has started testing resistance at $3.9660. The MA Period 20 is positioned above the current price, indicating that the bulls have regained some ground.
On the 4-hour chart, the Momentum indicator has the potential to rise into positive territory. However, it continues fluctuating between negative and positive values, signaling uncertainty in market direction. While both bulls and bears remain active, buyers appear more optimistic. Traders can watch for crypto signals to identify potential entry points as the market moves forward.

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