SUI forms a bullish flag pattern, hinting at a breakout toward $4.70 or higher.
Trading volume and partnerships boost investor confidence and market momentum.
RSI and Bollinger Bands signal a healthy uptrend with room for further gains.
The market can shift fast—but Sui — SUI, seems to be ready for the ride. After blasting over 75% higher in late April, SUI cooled down. Traders didn’t panic. Instead, excitement grew. A classic bull flag formed, teasing another explosive breakout. Sentiment hasn’t just stayed positive—it’s gotten louder. CoinMarketCap’s community shows strong optimism. Trading volume surged. Bulls aren’t just holding— they’re circling. And the $5 mark now feels closer than ever.
https://twitter.com/scottmelker/status/1919926859384438836 SUI Gains Strength: Strategic Backing and Rising Volume
At press time, SUI was trading near $3.40, posting a modest 1.7% gain in 24 hours. This move may look quiet—but it reflects calm before the storm. Bulls keep defending the flag’s lower boundary. Meanwhile, the $3.50 resistance stands as the next battleground. Scott Melker, a well-known analyst, highlighted SUI’s “significant upside potential.” That optimism isn’t wishful thinking. Trading volume jumped 16% in a single day. Momentum is heating up. Partnerships are pouring fuel on this bullish fire.
Last week, 21Shares joined forces with Sui to grow adoption. Earlier, Grayscale launched the SUI Trust—opening gates for institutional flows. Sui didn’t stop there. Deals with xMoney and xPortal aim to roll out a virtual Mastercard across Europe. On-chain growth also supports this surge. Sui now ranks among the top 10 Layer-1 networks. TVL ballooned 56% last month—now exceeding $1.74 billion. Capital doesn’t lie. Confidence keeps building.
Technical Indicators Show Uptrend Still Intact
Charts whisper bullish clues. The daily timeframe shows a textbook bull flag Chart pattern. The sharp pole rose from $2.60 to $3.80—a $1.20 gain. Consolidation followed, forming a gentle downward-sloping flag. A breakout above $3.50 would mark the next leg. If this price level breaks, traders may aim for $4.70 or higher.
A rally toward $5 grows likelier by the day. The RSI rests near 64. That’s close to the overbought zone but not overheated yet. Caution remains key. A divergence above 70 might signal cooling. Still, momentum favors the upside. The Bollinger Bands confirm the bullish trend. SUI trades above the 20-day midline, hovering around $3.12.
While price pulled back slightly, the setup still screams strength. For now, a push to the upper band could invite new buyers. Bulls now eye $3.50 as a trigger zone. Once cleared, the path to $4.70—and maybe $5—could open wide.
