SUI Forms Bullish Flag — Break Above $1.84 Could Target $2.29
SUI is consolidating within a bullish flag after a strong upward move, suggesting continuation rather than exhaustion. Technical analyst Ali Martinez and others note a descending channel (flag), a bull pennant on higher timeframes and an inverse head-and-shoulders on daily charts. A confirmed break above $1.84 is projected to target $2.29, with some analysts citing extensions to $2.50 or higher. Over the past 30 days SUI gained more than 29%, though it remains roughly 66.8% below its January 2025 all-time high of $5.35. On-chain fundamentals support the bullish case: Sui’s Total Value Locked recently exceeded $1 billion, driven by growing DeFi lending, trading and yield activity and continued dApp development. Traders are advised to wait for confirmation above $1.84 before taking aggressive positions, as broader crypto volatility could affect the outcome.
Bullish
The article presents multiple reinforcing bullish signals: a textbook continuation pattern (bullish flag/descending channel) following a strong rally, additional confirmation patterns (bull pennant, inverse head-and-shoulders), and a clear trigger level at $1.84 with a measured target of $2.29 and extensions to $2.50. On-chain fundamentals — notably TVL surpassing $1B and rising DeFi activity — provide tangible demand-side support that commonly strengthens sustainable rallies. Short-term: successful breakout above $1.84 would likely attract momentum traders and push price toward the $2.29 target, increasing volatility and volume. Failure to break could see a pullback to pattern support or moving averages, so risk remains. Long-term: growing TVL and developer activity improve utility-driven token demand, which can underpin higher valuation if network growth continues. Historical parallels: other L1 tokens that combined technical breakouts with rising TVL (e.g., past SOL, AVAX moves) produced strong medium-term rallies, while false breakouts occurred when broader market liquidity tightened. Therefore, the net impact is bullish but contingent on confirmed breakout and overall crypto market conditions.