SUI Price Forecast: SUIUSD Remains in a Descent

SUI Price Forecast: March 5

The SUI price forecast suggests that the market structure will likely sustain the ongoing downtrend unless the current upward movement successfully breaks out of the parallel channel.

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

Resistance Levels: $4.3000, $3.5990, $2.8500
Support Levels: $2.3850, $1.7630, $1.0020
A critical turning point for SUIUSD occurred when the $4.3000 demand level and the rising trendline failed to support the price, despite being at a confluence point. Since then, the coin has shifted to a downward trajectory. However, the pair continues to oscillate within a parallel channel while gradually declining.

SUI Price Forecast: SUI/USD Outlook

SUI/USD has been moving downward within a parallel channel, exhibiting a back-and-forth price pattern.

This movement results in more Parabolic SAR (Stop and Reverse) dots appearing above the daily candles than below them. The coin has now reached a significant demand level at $2.3850.

Although the RSI (Relative Strength Index) line remains in bearish territory, it has yet to reach oversold conditions. Instead, it is trending sideways, indicating market indecision.

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

The back-and-forth movement is even more pronounced on the 4-hour chart. While the Parabolic SAR dots are scattered around the price action, those positioned above the candles outnumber those below, aligning with the daily chart.
The RSI line fluctuates wildly between the oversold and overbought borders without entering extreme conditions. Bears continue to steer the market downward, but buyers may still influence price movements. Crypto signals suggest that traders should closely monitor these fluctuations for potential breakout opportunities.

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