SUI is poised for a potential bullish expansion after consolidating within a 300-day symmetrical triangle. The formation of a bullish pennant suggests compressed momentum, often leading to significant upward movements. Currently trading above the 50-day EMA at $3.50, SUI's price is around $3.62, with a 24-hour trading volume of $1.08 billion. Analysts project a price target of $10, citing the bullish shift confirmed by the EMA.
Alex Clay noted that SUI remains undervalued, with the bullish pennant forming within the larger triangle, indicating a breakout within a breakout. The RSI stands at 55, showing strengthening momentum. However, if SUI fails to maintain support between $3.50 and $3.55, it could retrace to $3.30.
SUI Eyes $10 Target Following 300-Day Triangle Breakout
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