SUI Price Is Flashing a ‘Massively Bullish’ Pattern: Here’s the Potential Target

The SUI price has been consolidating quietly over the past four days, with the market moving mostly sideways. But, according to a post from an analyst on X, this calm might not last much longer as SUI could be setting up for a major move upward.

At the time of writing, the SUI price is trading at $3.56, holding steady as traders await a breakout signal. Interest in SUI has been building steadily, especially after recent bullish developments in the broader altcoin market.

SUI Is Forming A Bullish Pennant

Sarosh, a crypto analyst, highlighted what he called an “extremely bullish” setup forming on the SUI price chart. He described the current pattern as a bull pennant, one of the strongest continuation signals in technical analysis.

As seen in the chart above, Sarosh explained that the SUI price had already seen a strong vertical rally, backed by massive trading volume, forming the “flagpole.” After that rally, SUI has entered a tight consolidation phase, with higher lows and lower highs, squeezing into a narrowing range. This kind of setup typically suggests that the asset is gathering energy for another big move.

According to Sarosh, SUI is currently trading above its 200-day simple moving average (200dSMA), a classic sign of strong positioning. The RSI is also in healthy territory at 77, which is high but not yet signaling overbought exhaustion. Meanwhile, the stochastic indicator is flat near the top, suggesting the market is simply waiting for a catalyst.

What’s Next For SUI Price

According to Sarosh, the key is to watch for a breakout above the upper trendline of the pennant. If SUI manages to break out with a surge in trading volume, then the move could quickly extend toward the $4.10 to $4.20 range. That would mark a strong continuation of its earlier rally and confirm the bullish setup.

However, Sarosh also mentioned the slim possibility of a breakdown, which he sees as very unlikely given the current bull market conditions. If the SUI price were to break down, then strong support sits at $3.20, around the 200dSMA and the top of the last breakout area.

In his own words, Sarosh called this a “massively bullish continuation pattern,” but he urged patience. Traders should wait for confirmation before jumping in, letting SUI “show its hand” before taking action.

At the time of writing, SUI continues to trade in a tightening range, keeping traders on edge for the next big move.