- SUI is consolidating within a bullish flag pattern between $3.66 support and $4.07 resistance.
- The flag formed after a sharp rally in early July, with the current price resting near the upper boundary.
- A breakout above $4.07 could push SUI toward the projected target of $4.80, a 19.28% potential gain.
SUI is currently trading within a defined bullish flag structure, showing signs of potential continuation after a recent upward move. The asset’s price has increased by 7.1% over the past seven days, reaching $4.07 on the daily timeframe.
This marks the upper boundary of its recent trading range. The pattern follows a sharp upward leg from early July, which has now paused to form a consolidation zone. If price moves beyond this formation, the measured technical target points to $4.80, reflecting a potential 19.28% upside from current levels. However, the breakout level has yet to be confirmed.
Price Consolidates Below Resistance After Sharp Move
SUI previously surged in early July, breaking through $3.00 and rising rapidly toward $4.00. This move formed the initial leg of the bullish flag. Following the rise, price has traded between $3.66 and $4.07, creating a sloping consolidation zone. The chart shows a classic flag structure, with descending highs and relatively flat lows forming a compact triangle.
During this phase, volume has contracted, a typical characteristic during flag consolidation. The price action has consistently held above the $3.66 support, reinforcing that level as a short-term floor. This structure remains intact, with no lower breakdown observed on the daily timeframe.
Breakout Projection Targets $4.80 Based on Measured Move
The projected move from the flag’s breakout, if confirmed, targets $4.80. This level represents a 19.28% rise from the current price. The projection is derived from the height of the prior leg, applied above the resistance line. At press time, the price remains pinned at $4.07, which is both the flag resistance and the top of the current 24-hour range.
This range has served as a reaction zone since mid-July, with repeated rejections at this level. Should price exceed this threshold, technical momentum may carry it toward the $4.80 objective. The breakout remains contingent on a sustained close above the pattern, and volume expansion will be key to validate any further move.
Support Holds at $3.66 as Buyers Maintain Control of Range
The $3.66 level continues to serve as the support base throughout the flag formation. Price has rebounded from this level multiple times, establishing a reliable floor. Short-term trading has fluctuated between this support and the $4.07 resistance, which reflects a clear compression phase.
Each touch of the lower trendline has seen a response from buyers, keeping the price within the tightening pattern. This suggests that bulls are currently holding control of the range. The setup remains unchanged with no invalidation of the pattern as of now. Price action continues to respect both key boundaries heading into the final days of July.
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