Recently, many friends who pay attention to SUI have asked me about the future trend of SUI. Although SUI has been trading sideways recently, overall, its performance in the past month is still outstanding and continues to attract market attention. Compared with mainstream assets such as Bitcoin (BTC) and Ethereum (ETH), SUI's price trend is particularly prominent, and its technical aspects and on-chain data show strong bullish signals. At present, market sentiment and technical charts indicate that SUI is expected to usher in a strong rebound, with a potential increase of up to 60% and a target price of $5.70.
Technical analysis: Bullish flag pattern suggests breakout is imminent
According to the technical analysis of SUI's daily chart, the coin has formed a bullish flag and flagpole pattern, which is a generally recognized price increase pattern in the market. The recent price correction provides SUI with room for further growth. Analysts pointed out that if the SUI price breaks through and stabilizes above $3.50, it may quickly climb to $5.70.
The relative strength index (RSI) is currently at 58.60, which is close to the overbought zone, but still at a healthy level, indicating ample upside potential. In addition, the price of SUI is currently close to $3.41. Although it has fallen 3.5% in the past 24 hours, this is considered a short-term consolidation rather than a signal of a trend reversal.
On-chain data: traders are bullish
On-chain analysis further supports SUI’s upside potential. According to Coinglass data, SUI’s long-short ratio reached 2.14, indicating strong bullish sentiment in the market. Among the top traders, 68.20% hold long positions, while 31.80% hold short positions. This significant bullish bias reflects the market's confidence in SUI's future performance.
The liquidation map shows that $3.538 above the price and $3.326 below the price are the main liquidation levels. Currently, traders are highly leveraged at these points. If the price breaks through $3.538, it may lead to the liquidation of $22.18 million worth of short positions, further driving the price up; on the contrary, if the price falls below $3.326, it may lead to the liquidation of $10.5 million worth of long positions.
Declining volume: Caution before breakout
Despite the technical strength, the decline in trading volume suggests that investors are waiting for a clear price breakout signal. SUI's trading volume has fallen by 35% in the past 24 hours, indicating a weakening of market participation in the short term. This phenomenon usually reflects the cautious attitude of traders, especially around key resistance levels.
Market Outlook: Bullish trend continues
Combining technical charts and on-chain data, SUI has fully consolidated at the current price and is ready to break through the key resistance level. As long as market sentiment remains unchanged, a price breakout above $3.538 will further strengthen the upward trend. Moreover, the strong bullish willingness reflected in on-chain data provides solid support for prices.
We need to pay attention to the subsequent price trend, especially the potential to break through $3.50. If the target is achieved, SUI will not only continue to consolidate its market position, but may also attract more capital inflows and become the leading asset in the next stage of the market.
