### A quick turnaround after months of stagnation
Since early June, Sui (SUI) coin prices have been stuck near a low level of $0.65, but this changed rapidly over the past few trading days. Bitcoin’s momentum has moved well through the crypto market, and many altcoins have seen gains in the form of multiples this week.
SUI was one of these coins, rising by 27.5% over three days, from $0.65 to $0.83 at the time of writing the report. Along with bullish sentiment across the broader market, the launch of the V2 version of the "Aftermath Perpetuals Futures" platform on Sui’s mainnet also helped strengthen this sentiment, as an audit report was published and 15 markets began trading live on-chain, including markets for Bitcoin, gold, and silver.
Relatively easily, the price broke through the supply zone between $0.78 and $0.83 during this rally, then later retested it as support, opening the way for a larger price move toward $1.25 or higher.
### Arguments supporting SUI as a buying opportunity
In a series of posts on the X platform, analyst Ali Martinez outlined the reasons he believes Sui is on the verge of launching in an upward wave that could surprise market participants:
- The technical indicator "TD Sequential" on the monthly timeframe issued a buy signal, and typically this shift suggests a potential price increase that can last from one month up to four months.
- SUI was also in the process of forming a "Star Doji" candlestick pattern on the monthly timeframe, a pattern that usually accompanies the end of a downtrend.
- Engagement on social media remained negative, but activity on-chain surged significantly, with active addresses increasing by 250% over the past week.
The analyst concluded that price action, on-chain activity, and sentiment have "started to align with each other," with bullish price targets including $2.30 as the midpoint level of the ascending channel, and $7.90 as a more optimistic target.
### Call to traders: Monitor SUI’s technical structure
A previous AMBCrypto report indicated that the alternative coin’s swing structure is still bearish on the daily timeframe, and recent gains have not yet invalidated this fact.
Fibonacci retracement levels showed that the current rally is only a rebound within a broader bearish trend. This rally could easily reach the $1.12–$1.25 range, after the $0.80 area shifted from resistance to support.
To turn the technical structure bullish, the $1.42 swing high needs to be broken. Until market participants see sustained buying and a move that goes beyond the $1.25 level, the bearish bias on this timeframe remains in effect.
---
Conclusion:
- SUI showed several technical indicators suggesting a potential trend reversal to bullish, with a possible target at $2.30, according to analyst Ali Martinez.
- In contrast, the swing structure is still bearish, and the current rally is only a rebound within a broader downtrend.