SUI, an altcoin, has recently exhibited a bullish chart pattern, potentially paving the way for a rally toward $3.89. This positive outlook is supported by a breakout from an inverse head-and-shoulders pattern, a development that often signals the start of an upward price trend.

On July 10, 2025, SUI demonstrated its upward momentum by rallying 11.3% to reach $3.41. This surge is part of a broader trend influenced by Bitcoin's rise to a new all-time high, which has injected bullish sentiment into the altcoin market. Technical analysis suggests that if buyers can maintain the price above the 50-day simple moving average (SMA) at $3.08, the SUI/USDT pair could potentially climb to $3.55 and eventually reach the pattern target of $3.89.

However, it's important to consider alternative scenarios. Should the price reverse and fall below the 20-day exponential moving average (EMA), it would indicate that bears are still active, selling during rallies. In such a case, the pair could decline to $2.64 and potentially further to $2.29.

A completed bullish inverse head-and-shoulders pattern was observed on the 4-hour chart after the price closed above $3.08. While the upward-sloping moving averages favor buyers, an overbought reading on the Relative Strength Index (RSI) suggests that a pullback might be imminent. The neckline of the pattern is a crucial support level to monitor. A rebound from this level could propel the pair towards $3.50 and then to the $3.89 target.

Earlier in the second quarter of 2025, SUI showed a pattern of higher highs and higher lows, indicative of a strong bullish trend. The price has closely followed its 20-day EMA, which has acted as a dynamic support level throughout the uptrend. This behavior is viewed as a positive technical signal, suggesting that the asset is well-supported and has room for further growth.

Adding to the bullish signals, technical analyst Alex Clay identified a bullish pennant pattern forming on SUI's daily chart. A successful breakout from this pattern could lead to two primary targets: $4.80 and $6.60. Rose Premium Signals' weekly chart analysis focuses on Fibonacci retracement levels, noting that SUI's price at $3.21 aligns with the 0.618 Fibonacci level, a significant area that could act as either strong support or resistance.

On the 4-hour chart of $SUI/$USDT, a rounded base formation, a bullish reversal pattern, can be observed. This U-shaped structure formed between June 22 and July 9, as prices stabilized and turned upward after a prolonged decline. The pattern was completed when the price broke above the $2.80 neckline resistance on July 9, confirmed by a sharp rise in trading volume.

Over the past 24 hours, $SUI has surged by 9.12%, trading at $3.22, with a remarkable 128.51% increase in trading volume. The next $SUI token unlock is scheduled for August 3, 2025, releasing 49.5 million tokens, approximately 0.5% of the total supply, with an estimated value of $161.5 million.