SUI Tests Multi-EMA Resistance and Bull Flag, Breakout Above $2.90 Could Open Path to $5

SUI is testing multi-EMA resistance and bullish flag structure near $2.90 with a $5 target in view.

24-hour trading volume surged 75%, signaling increased trader interest and potential breakout momentum.

$22.44M worth of SUI exited exchanges, indicating possible accumulation and long-term investor confidence.

SUI is trading near a confluence of technical resistance zones, including the 50-day, 100-day, and 200-day exponential moving averages (EMAs) and the upper boundary of a bullish flag pattern. As the token consolidates near $2.90, market participants are closely watching for a breakout that could validate a projected move toward $5. The setup has gained attention due to the alignment of multiple bullish signals, all forming near a key technical area.

Price Action Consolidates Below Multi-EMA Barrier

SUI has recorded a 7.72% gain over the past week and is currently trading at $2.90. The price rallied from a low of $2.65 on June 28, reaching a peak above $3.10 on July 3 before stabilizing

Source: CoinMarketCap

The current range reflects profit-taking and short-term consolidation, with support forming near the $2.80 zone. According to analysis prepared by Alex Clay, SUI is now testing a resistance cluster that includes the 50 EMA, 100 EMA, 200 EMA, and the horizontal resistance of a bullish flag

A breakout from this area would indicate the continuation of the previous uptrend, with a potential price target of $5 based on the flagpole’s measured move. If the price closes above the multi-EMA zone, technical confirmation may follow.

Volume Rises as Accumulation Increases

CoinMarketCap data shows that SUI's 24-hour trading volume increased by 75% compared to the previous day. This surge supports the bullish setup, reflecting rising interest from traders. The current volume-to-market cap ratio stands at 8.39%, indicating active participation.

Source: CoinGlass

According to on-chain data from CoinGlass, $22.44 million worth of SUI tokens left exchanges in the past week. This outflow suggests investor accumulation, typically associated with long-term positioning

Source: Agent47(X)

A post by Agent 47 on X stated that if the retest and hold are successful and volume increases, a move toward $4.50 could follow. With key technical levels converging and trading volume accelerating, the bullish flag structure remains intact. A breakout may push SUI toward the $4.50–$5.00 zone.

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