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.

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Bitcoin (BTC) may be evolving into more than just a hedge against financial instability — it could now be considered a bona fide tech stock, according to a new analysis by Standard Chartered head of digital assets research Geoffrey Kendrick.

In a research report shared with CryptoSlate on March 24, Kendrick proposed reconfiguring the famed “Magnificent 7” tech stock index to include Bitcoin. He argued that this would enhance the index’s returns.

Short-term Tech Proxy, Long-term Hedge

To test that thesis, Kendrick’s team created a revised index by removing Tesla — the smallest member of the original group — and replacing it with Bitcoin. When measured by return-to-volatility, the Mag 7B index consistently outperformed the original from 2020 through 2024.

According to the report:

“We find that our index, ‘Mag 7B’, has both higher returns and lower volatility than Mag 7This suggests that investors can view BTC as both a hedge against TradFi and as part of their tech allocation.”

Kendrick argued that as Bitcoin continues to gain a role in global portfolios, the case for treating it as a mainstream risk asset will only strengthen. The report stated that institutional flows into Bitcoin are becoming more entrenched, particularly following the approval of spot Bitcoin ETFs in the US.

According to the report:

“As BTC’s role in global investor portfolios becomes established, we think that having more than one use will bring fresh capital inflows to the asset. This is particularly true as Bitcoin investment becomes more institutionalised.”

While Kendrick continues to view Bitcoin as a medium-term hedge against traditional finance (TradFi) risks — pointing to the March 2023 collapse of Silicon Valley Bank as a relevant example — he emphasized that, over shorter time horizons, Bitcoin is highly correlated with the Nasdaq.

He wrote:

“Over the medium-term I see Bitcoin as a hedge against TradFi issues… But over shorter time horizons it trades very much like the Nasdaq.”

Boost from broader markets

The timing may be favorable. Kendrick expects markets to respond positively this week to a “less bad” US tariff announcement and noted that the Nasdaq’s first quarter of 2025 has been its worst since the second quarter of 2022.

A potential rebound could benefit Bitcoin disproportionately, given its increasing alignment with high-growth tech assets. Anticipated relief from April tariff news and broader tech optimism could amplify demand.

Kendrick said:

“I would expect this week to be a good one for Bitcoin and all things crypto… Higher Nasdaq will equal higher Bitcoin. 90k in focus now.”

However, the lender continues to believe that Bitcoin needs a bigger catalyst for a more sustained rally to new highs.

Kendrick’s analysis signals a growing recognition of Bitcoin’s hybrid nature — both a hedge and a high-beta tech asset — positioning it as a potential long-term fixture in global investment strategies.

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