SUIUSD Price Forecast: Bullish Reversal Attempt Underway

SUI Market Analysis – March 31

SUIUSD has declined to the key demand level of $2.40, where a notable bounce suggests a potential bullish reversal. The price action at this level indicates growing interest from buyers, making it a crucial zone to watch. A sustained hold above this level could trigger renewed bullish momentum, while a failure to maintain support might invite further declines.

SUIUSD Key Levels

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

SUI Long-Term Trend: Bullish

SUIUSD experienced a failed high in January after an extended bullish run marked by a series of higher highs. This signaled a potential trend reversal at $5.20, a critical supply zone. Before this reversal, the Smoothed Heikin Ashi candles provided consistent support, guiding the price upward from $1.60 to $5.20. The shift in market structure at this peak confirmed weakening bullish strength, leading to a correction.

Since then, SUIUSD has followed a descending structure, with lower highs and lower lows forming a well-defined downtrend. The $2.40 level now serves as a pivotal demand zone, where buyers are attempting to halt the bearish momentum.

SUI Price Forecast: Market Outlook

The Smoothed Heikin Ashi candles effectively signaled the market shift. Throughout the extended bullish phase from $0.50, the candles remained predominantly green, indicating sustained buying pressure. However, once the bearish signal emerged, a clear market transition followed, characterized by a downtrend reinforced by a descending trendline. This trendline has acted as dynamic resistance, guiding the price lower until it reached $2.40.

Now, the market faces a decisive moment. If buyers successfully defend this level and push above the descending trendline, a short-term reversal could materialize, targeting higher levels. Conversely, a failure to break out may see the price consolidate or extend its decline toward $1.60.

SUI Short-Term Trend: Bearish to Neutral

Upon reaching $2.40, SUIUSD saw a sharp bounce, nearly sweeping the previous high before encountering resistance. This suggests that bulls are attempting a reversal, leveraging the trendline as a support base. The price is currently retesting the $2.40 demand zone, with a potential breakout attempt underway.

If buyers sustain momentum, a move toward $3.00 and beyond becomes feasible. However, a lack of follow-through could result in another retest of lower levels, reinforcing the bearish structure. For now, traders should watch for confirmation of a breakout above the trendline for a clearer bullish signal.

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