SUI confirms trend momentum after breaking a multi-month wedge and holding above EMA supports with compressed bullish candles.
Price consolidation near $3.42 follows a breakout from $1.50, with $5.60 in view if SUI clears the $4.30 local high.
Weekly chart signals a mid-term push to $5.30–$7.56, driven by strong volume, ETF buzz, and sustained institutional inflows.
SUI has exited a multi-month falling wedge and is now consolidating above key support zones with strong trend momentum. Analysts point to growing institutional inflows and Fibonacci projections that suggest a major continuation rally is building.
Price Structure Signals Strong Continuation Phase
SUI has entered a bullish continuation phase after reclaiming several critical resistance levels and stabilizing above them. Price activity now reflects compressed movement within a defined structure, hinting at a likely upward breakout. Volume spikes during rallies and declining activity during pullbacks support the validity of this trend.
Analyzing the daily chart after a prolonged wedge pattern, Alex Clay has provided detailed insights. The falling wedge extended from January through April, marked by progressively lower highs and lows. According to Clay, the breakout in early May triggered a steep rally from $1.50 to over $4.30.
SUI crossed above the EMA 50, EMA 100, and EMA 200, confirming a structural shift in momentum. The EMA 200 near $2.85 now acts as a dynamic support. Clay also pointed out that the EMA 100, around $3.20, has held firm during the latest pullback.
Price currently hovers near $3.42, consolidating just above the previous resistance, now turned support. The horizontal zone at $3.20, highlighted on Clay’s chart, marks the retest point. The ongoing tight candle formations and elevated volume on rallies reflect trend compression and continuation potential.
A large arrow targets the $5.60 area, aligned with historical resistance and Fibonacci extensions. According to the chart, clearing the $4.30 local high would open the path toward that projected target. Analysts note that the current structure mirrors a classic breakout-retest-extend sequence.
Weekly Chart Highlights Mid-Term Upside Roadmap
Solberg Invest has offered a comparative analysis using the weekly chart to identify mid-term price trajectories. The chart outlines a completed descending wedge, followed by a double bottom formation and bullish engulfing candles. Another analyst has also mapped a breakout scenario targeting over 60% gains.
SUI trades around $3.57 on the weekly chart, with a recent high at $3.74. The move from $1.90 to $4.40 during May reflects a 131% price increase. Observers confirm that volume during the breakout weeks signals strong institutional and retail interest.
A zigzag projection points toward $5.30 by mid-June, factoring in a potential short-term dip. Former resistance zones near $2.50 and $3.00 have flipped into support, reinforcing the bullish case. Additional commentary from market analysts ties the current rally to ETF interest and growing European inflows.
Experts tracking Fibonacci setups identify $7.56 as a potential high in a full 2x extension. Traders also point to growing momentum, tight bullish candles, and low profit-taking activity as signs of continued accumulation. Analysts are watching these structural formations closely as the price approaches key breakout levels.
The post SUI’s Bullish Pattern Mirrors Classic Breakout–Retest–Extend Formation. appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
