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The popular altcoin has posted a 67% price increase over the last two weeks, briefly climbing to a four-month high of about $1.30 before retracing to $1.15.<\/p>\n
Many analysts, including Ali Martinez, think SUI’s bull market may have begun, anticipating much bigger short-term pumps.<\/p>\n
Martinez claimed<\/a> that the asset is on the verge of printing a new golden cross, with the 50-day moving average starting to cross the 200-day MA. He said this development is typically seen as a major bullish signal and could mark the beginning of a long-term rally.<\/p>\n The analyst didn’t stop there, noting that the last two golden crosses appeared in December 2023 and October 2024 and were followed by major increases of roughly 240% and 222%, respectively.<\/p>\n “If history rhymes with the larger move, a similar 230% bull run could take SUI toward $4,” he added.<\/p>\n<\/blockquote>\n This isn’t the first time Martinez has commented on the asset this month. Several days ago, he argued<\/a> that SUI has flashed one of its most important macro bullish signals. Specifically, the Parabolic SAR dots have flipped below price on the weekly chart, suggesting a macro shift from a downtrend into a new uptrend.<\/p>\n Prior to that, he spotted<\/a> three factors that could support a pump to $1.40. Those include the Tom DeMark Sequential indicator printing a 13th buy signal in late July, the SuperTrend indicator flipping to “buy,” and the aforementioned Parabolic SAR.<\/p>\n Earlier this week, X account MSB Intel revealed<\/a> that SUI has surpassed NEAR, TON, Arbitrum, and Injective in daily active users. Michael van de Poppe highlighted<\/a> the development, claiming that the asset’s run is far from over.<\/p>\n “Seven months of building bullish divergences don’t stop in a single week of upward momentum,” he concluded.<\/p>\n<\/blockquote>\n Nehal and Coinvo Trading also gave their two cents. The former praised<\/a> SUI for its “alien technology,” expecting a price surge to a new all-time high of $8.<\/p>\n The latter claimed<\/a> that the asset has formed a “generational breakout.” The X user pointed out that previous rallies delivered triple- and even quadruple-digit gains, wondering how high the price could surge this time.<\/p>\n “This is one of the few altcoins that has proved itself throughout more than 1 cycle. It also has a serious team behind it and actual use-case. This is at the top of my watchlist right now,” they stated.<\/p>\n<\/blockquote>\n The post Sui (SUI) Could Be Headed for a 230% Price Explosion: Here’s Why<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n\n
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Additional Forecasts<\/h2>\n
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