The SUI price has been consolidating quietly over the past four days, with the market moving mostly sideways. However, a post from an analyst on X hints that this calm might not last much longer. According to the update, SUI could be preparing for a major move upward.
At the time of this post, the SUI price is trading around $3.56, holding steady while traders wait for a breakout signal. Interest around Sui has been building steadily, especially after recent bullish developments across 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 an example of a bull pennant, one of the strongest continuation signals in technical analysis.
In his post, Sarosh explained that the SUI price had already seen a strong vertical rally, backed by massive trading volume, creating a “flagpole.” Following 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.
Adding to the bullish picture, Sarosh pointed out that SUI is currently trading above its 200-day simple moving average (200dSMA), which is a classic sign of strong positioning. He also noted that the RSI is sitting at a healthy 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.
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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, 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, strong support sits near $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 emphasized the importance of patience. Traders should wait for confirmation before jumping in, letting SUI “show its hand” before taking action.
At the time of this post, SUI continues to trade in a tightening range, keeping traders on edge for the next big move.
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