Sui (SUI) Hits a 4-Month High: 3 Reasons Why It Can Pump Even More

SUI has finally reclaimed the $1 psychological level. The cryptocurrency market has seen another substantial resurgence in the past 24 hours, with SUI among the top performers. The asset has drawn bullish forecasts, with some projecting a short-term rise to $1.40, while others have made more optimistic bets. The Positive Signs As of this writing, SUI trades around the $1 psychological mark (according to CoinGecko), up 17% in the past day. In fact, this is the highest the price has reached in the past four months, with the token’s market capitalization surging past $4 billion. The renowned analyst Ali Martinez spotted three bullish factors that could support an additional rally. First, he noted that the Tom DeMark Sequential indicator printed a 13th buy signal in late July. Since then, SUI has jumped by 45%, showing that the initial reversal signal has already gained traction. Next on his list is the SuperTrend indicator, which also flipped to “buy.” “This suggests the rally could extend into a broader macro shift from bearish to bullish momentum,” he said. The analyst’s next element is the Parabolic SAR, which could also print a buy signal this week. Martinez estimated that if SUI ...