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Amidst a widespread uncertainty in the crypto market, $SUI is undergoing a major price correction as evidenced by 23.25% loss in the past 30 days. During this period, the popular altcoin and a major headliner in the present market cycle has traded as low as $2.35, which is a 56.44% decline from its all-time high of $5.35 in January.
Amidst this mayhem, prominent market expert with X pseudonym PlanD has stated the ongoing formation of a bullish dual pattern hints at an incoming explosive price gain in the $SUI market.
Technical Combo Sets Stage for $SUI Surge – Analyst
In an X post on June 27, PlanD shares an interesting price analysis that reveals the formation of two bullish patterns – the bull pennant and the inverse head and shoulder (H&S) – on the $SUI daily chart. Both patterns currently form a confluence of technical indicators suggesting the altcoin is preparing for a major price rally as the second half of 2025 approaches.
The inverse head and shoulder pattern is a common bullish reversal pattern. Amidst $SUI’s price correction in Q1, the altcoin formed the left shoulder at $2.42 in February and head at $1.74 in April with a recent price bounce off $2.62 appearing to form the right shoulder. PlanD describes $2.62 as a critical support level in this bullish set-up, the validity of which ensures a potential price breakout.
In studying PlanD’s technical analysis, the inverse H&S currently has a neckline of $4.25, breaking past which confirms the bullish price reversal with a price target set at $10.74.
Meanwhile, The bull pennant is a common chart pattern marked by a strong price uptrend (flagpole), followed by a descending channel (pennant) that precedes a price breakout similar to the length of the flagpole. Based on the analysis presented by PlanD, prior bull pennants on the $SUI chart have successfully resulted in explosive rallies as seen in 2023 and 2024.
Notably, $SUI bullish price action from mid 2024 to its ATH in January followed by a descending price movement since then represents the latest bull pennant. Based on the initial price surge (flagpole), PlanD presents a $SUI long-term price target of $27, representing a potentially 10x gain on current market prices.
$SUI Price Overview
At the time of writing, $SUI trades at $2.69 following a 2.23% price gain in the past day. Despite its struggles in the last month, the altcoin still boasts of 226.33% price gain in the last year ranking as one best performing coins in the present market cycle.
