SUI has recently been following a typical bull flag consolidation pattern.
It’s important to know that this pattern often indicates a brief pause after a sharp rise, and there is likely to be a second wave of increase afterwards. From a technical perspective, various indicators are quite healthy—RSI is neither overbought nor weak, the Bollinger Bands are opening upwards, and trading volume is steadily increasing, indicating that large funds are secretly positioning themselves.
More crucially, the fundamentals are also aligning, as the SUI ecosystem has been quite active lately, with various cooperation announcements coming in succession, and on-chain data is becoming increasingly lively.
Market sentiment is clearly warming up, shifting from initial skepticism to more and more people becoming optimistic. Currently, the price is building momentum, and once it breaks through the key level of $4.7, reaching $5 should not be a problem.
However, that said, the market is always full of uncertainties, and even the best patterns require preparation for both scenarios; if the key level fails to break, one must respond in a timely manner.
