Sui (SUIUSD) Indicates a Good Buy Signal

Sui (SUIUSD) Price Forecast: January 7

Today, the Sui market indicates a good buy signal and shows signs of recovery, consistently hovering above the supply level. The coin is facing a new correction, heading towards the overhead resistance, providing a stronger foundation for further price increases. Hence, a possible breakout from the current supply level of $1.993 will offer a higher footing for prices to bolster further potential rallies, extending the trend to hit the previous high of 3.707 and beyond, signaling promising growth ahead.

Key Levels:
Resistance Levels: $3.456, $3.457, $3.458
Support Levels:    $1.305, $1.304, $1.303

SUI (USD) Long-term Trend: Bullish (Daily Chart)

The Sui market is currently undergoing a market correction and indicates a good buy signal as it remains bullish on the higher time frame.
The price is heading towards the upper channel above the moving averages due to the high impact from buyers.

The higher order flow from the bulls to the $1.899 in the last session also added to this bullishness. However, the coin market indicates a good buy signal as it heads towards the upper channel.

The current price of the SUIUSD pair at the $1.993 resistance level above the EMA-50 as the daily chart opens today indicates a good buy signal and gives room for a more bullish impact on the market, signaling promising growth ahead.

Hence, a strong push by the bulls above the $3.707 supply level will offer a strong footing for buyers, leading the Sui price towards the upper resistance to stabilize the bullish momentum.

Additionally, the price of SUIUSD pointing upwards on the daily stochastic suggests a good buy signal as the market remains above the moving average, offering a buy potential for coin traders.

In light of this, the bulls might move the price action and may likely hit the $3.976 upper resistance level as the coin price indicates a good buy signal in its higher time frame.

SUI (USD) Medium-term Trend: Bullish (4H Chart)

The SUIUSD pair is progressing upward and indicates a good buy signal with a bullish sentiment in its medium-term outlook.
The coin price is approaching the upper resistance level above the EMA-50, suggesting a high bullish trend.

The bulls’ action at the $1.712 supply level in the past few hours has enabled the Sui price to remain stable on the upside lately.

At the press time, the bulls made an impressive move up with a long bullish candle to the $1.989 resistance level above the EMA-50 shortly after the 4-hourly chart opened today, indicating a good buy signal for coin buyers.

Trading above the moving averages will enable the market value of Sui to keep rising.

Thus, closing the 4-hourly session above the current supply value will put the trade more on the buy side, indicating a good buy signal.

Similarly, the price indicator pointing upwards on the daily stochastic indicates a good buy signal.

Hence, if buyers should intensify their tension in the market and the prices break above the current resistance trend line, a bullish trend continuation towards the upper channel at the $1.993 upper resistance level is possible soon in the medium-term outlook.

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