SUI is consolidating around $1.77, with technical analysts highlighting a bullish structure that could precede a significant price expansion. According to trader GainMuse, SUI has broken out of a prolonged compression phase and is now forming higher lows within an ascending channel, indicating that pullbacks are being absorbed by buyers. The price is holding above a rising support line, with consolidation interpreted as building energy for the next move.
"The structure, according to GainMuse, suggests buyers are positioning for another push higher as momentum tightens," the analysis notes. The immediate technical outlook remains constructive as long as SUI stays above this dynamic support.
Separately, analyst CryptoPatel has outlined more ambitious long-term targets, suggesting SUI could potentially reach $5, $10, and even $20 this year. This forecast is based on SUI trading in a high-time-frame accumulation zone following a deep correction from its 2024 highs, with signs of smart money participation. The recovery includes a 45% bounce from recent lows, strengthening the bullish case.
A critical support level is identified at $1.20. A weekly close below this level would invalidate the current bullish structure and could trigger a trend reversal. For the bullish scenario to hold, SUI must maintain support and eventually break through the $5 resistance level to pave the way toward the higher targets.
