SUI Technical Analysis: Bullish Pennant Formation Signals Potential Breakout Toward $5.35 Target

SUI demonstrates resilience against mixed market conditions with a 1.77% gain over 24 hours, currently trading at $3.18 despite a 36.5% decline in daily volume to $1.02 billion. Although weekly losses approach 13%, the token maintains crucial support levels.

A bullish pennant pattern emerging on the daily chart indicates potential continuation momentum, with analysts identifying a breakout above $5.50 as confirmation of strong upward trajectory. The current rebound NEAR $3.10 appears to be a liquidity sweep—eliminating weak positions before recovery.

While RSI and MACD indicators suggest near-term caution, the technical structure reveals accumulating strength for buyers. Market capitalization holds at $11.36 billion as traders anticipate decisive momentum shifts.