- SUI holds above $3.60 support as bulls aim for a $5.30 target after a falling wedge breakout.
- An inverse head and shoulders pattern suggests a bullish continuation toward the $5.60 level.
- Liquidation pressure near $3.93 adds short-term risk, but long-term momentum remains intact.
SUI is currently trading at $3.89 after a 7% decline over the last 24 hours. Despite this drop, technical indicators show that altcoin remains in a broader bullish structure. SUI recently confirmed a breakout from a falling wedge pattern and is now undergoing a planned pullback. The current move aligns with medium-term projections that place the next major target near $5.30.
Bullish Patterns Suggest Price Recovery Toward $5.30
According to analysis prepared by Rose Premium on X, SUI has formed an inverse head and shoulders pattern on the daily chart. The neckline of this pattern is now being retested. If this level holds, analysts expect the price to continue upward toward $5.60.
The pattern is considered a classic reversal structure, and its validation adds weight to the bullish view. At the same time, the asset appears to be progressing through wave V of an impulsive five-wave sequence.
After finding support near $3.60, SUI has shown early signs of recovery. The Relative Strength Index (RSI) has also moved out of overbought territory and remains in a neutral range, which gives room for continued upside movement.
Short-Term Risks Persist as Liquidation Pressure Weighs on Price
A liquidation heatmap shared by The Kingfisher indicates that heavy long liquidations were triggered near $3.93. This liquidation cluster created additional downward pressure as leveraged positions were wiped out.
Moreover, fewer short liquidation levels above the current price suggest limited momentum for a short-term squeeze. Trading volume has declined by 24% in the past 24 hours, reflecting a cautious stance among market participants.
Trader_XO on X highlighted a bearish divergence on the RSI, suggesting weakening momentum unless the $4.00 level is reclaimed. Still, key support at $3.60 has held. According to Mags on X, “SUI is programmed for double digits,” reinforcing the long-term bullish outlook.
