SUIUSD Price Forecast: SUI Aims for New Demand Level

SUI Market Analysis – March 24

SUIUSD has maintained a bearish outlook since January, following a failed high that triggered a change of character. This shift turned the market direction bearish, with the price now targeting the $1.60 demand level.

SUIUSD Key Levels

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

SUI Long-Term Trend: Bearish

The bearish trend began when the Stochastic indicator signaled overbought conditions in January. This coincided with a red tag from the Lorentizan Classification indicator, reinforcing short opportunities. The subsequent break of the $4.30 demand level confirmed the bearish momentum, marking the start of a consistent downtrend.

SUIUSD Market Outlook: SUI Forecast

Following the break of the $4.30 demand level, the market attempted a pullback to retest a bearish order block at the same level. This retest resulted in aggressive selling pressure, driving the price lower in a series of lower highs and lows. The price eventually reached the $2.40 support zone before forming a swing low just beneath it.

Currently, SUIUSD is retracing upward, presenting a temporary recovery phase. However, this pullback is expected to face renewed selling pressure, potentially driving the price toward the next key support level at $1.60.

SUI Short-Term Trend: Bullish

On the lower timeframe, the current pullback appears as a bullish trend within a rising channel structure. A breakout from this channel could provide trade opportunities, potentially signaling a continuation of the bearish move toward the $1.60 support level. Traders should monitor this breakout closely for potential crypto signals.

Make money without lifting your fingers: Start using a world-class auto trading solution 

How To Buy Lucky Block

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.