According to several analysts, Sui (SUI) could rise by 230% and reach $4. Over the past two weeks, SUI has shown a 67% increase, temporarily hitting a four-month high of $1.30 before retreating to $1.15. Analyst Ali Martinez claims that the asset is close to forming a new golden cross – the 50-day moving average is beginning to cross above the 200-day moving average. He notes that this event is typically considered a significant bullish signal and may mark the beginning of a long-term rally. The last two golden crosses were recorded in December 2023 and October 2024, accompanied by increases of approximately 240% and 222%, respectively.
"If history repeats itself, a similar bullish movement of 230% could bring SUI to $4," he added. Earlier, Martinez also pointed out that SUI showed one of its largest macro bullish signals: the Parabolic SAR points moved below the price on the weekly chart, suggesting a shift from a downtrend to a new uptrend. Prior to this, he highlighted three factors that could support growth to $1.40: the Tom DeMark Sequential indicator, which recorded its 13th buy signal at the end of July, the SuperTrend indicator switching to 'buy', and the aforementioned Parabolic SAR.
This week, the MSB Intel account reported that SUI surpassed NEAR, TON, Arbitrum, and Injective in terms of daily active users. Mikhail van de Poppe emphasized this event, stating that the asset's upward movement is not yet complete. "Seven months of bullish divergences don't end with just one week of positive momentum," he concluded.
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