SUI Price Breaks Pennant as 300-Day Triangle Setup Builds Path Toward $10

SUI has consolidated within a 300-day symmetrical triangle, creating a strong base that positions the token for a potential bullish expansion.

A bullish pennant has formed inside the larger structure, signaling compressed momentum that often precedes major upward continuations in digital assets.

Trading above the 50-day EMA at $3.50 confirms a bullish shift, with projections indicating price targets extending toward the $10 range.

The SUI price is showing new bullish momentum after consolidation within a lower time frame symmetrical triangle over the last 300+ days. According to market structure, and technical indicators, there is a potential for continuation to the upside if the price holds its current levels.

Accumulation Range Builds Long-Term Strength

For almost 300 days, SUI has consolidated inside a broad symmetrical triangle on the weekly chart. This prolonged structure often indicates an accumulation phase where stronger hands gradually absorb supply from short-term participants.

Alex Clay noted on X that SUI remains deeply undervalued while trading inside this accumulation zone. He pointed to a bullish pennant forming within the larger triangle, calling it a breakout within a breakout.

The technical setup suggests a coiling phase, with higher lows forming across the structure. This type of price action reflects steady market absorption that often precedes large expansions once demand accelerates.

Bullish Pennant Signals Local Momentum

Alongside the broader triangle, a local bullish pennant has now developed. Pennants often act as continuation patterns, representing consolidation before an extension of the prior trend. A confirmed breakout here could extend SUI’s bullish structure.

Clay emphasized that this pennant could serve as the final compression before a larger move higher. If confirmed, it may trigger the symmetrical triangle breakout, which has been in play for almost a year.

This setup presents the possibility of double-digit price territory, with chart projections pointing toward $10 once momentum shifts firmly in favor of buyers. Market sentiment will play a role in validating this technical scenario.

Current Price Action and Key Levels

At the time of writing, SUI is trading around $3.62 with a 24-hour trading volume of $1.08 billion. The token has gained 0.53% in the past 24 hours and 9.42% in the last week.

The asset recently broke above its descending trendline after weeks of consolidation. It is now trading above the 50-day EMA at $3.50, a level that has turned into support. Technical confirmation of this zone could pave the way toward $3.90–$4.20.

Source: TradingView

The RSI stands at 55, showing strengthening momentum while avoiding overbought conditions. However, failure to maintain support between $3.50 and $3.55 could expose price to a retracement toward $3.30 before attempting recovery.

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