SUI price flashes three buy signals as $1.40 comes into view

SUI is flashing several technical signals that point to a possible further rally, according to crypto analyst Ali Martinez. The first two buy signals have already appeared, while a third could follow this week if SUI breaks above $0.98. Since the first signal in late July, the SUI price has already climbed around 45%. Should the breakout extend, the analyst ultimately sees room towards $1.40.

First buy signal has already delivered a 45% gain

The first major signal appeared in late July on the weekly chart. The Tom DeMark Sequential, an indicator traders use to try to spot potential trend reversals, printed a 13 buy signal at that point.

Since then, SUI has gained around 45%, according to Ali Martinez. That suggests the first signal has genuinely been followed through in the price.

A second indicator has now joined it. The SuperTrend has also flipped to a buy signal on the weekly chart. According to Martinez, this could indicate that the current rebound is not merely a short term price move, but may be part of a broader shift from bearish to bullish momentum.

$0.98 is now the key level for SUI

A third buy signal has yet to be confirmed. For that, Martinez is looking at the Parabolic SAR. This indicator uses dots above or below the price to show the direction of a trend.

In his analysis, SUI needs to rise above $0.98 to trigger the next signal. When that happens, the SAR dot shifts below the price. That would confirm an upward trend, after which the indicator can act as dynamic support.

That makes $0.98 an important level in the short term. A breakout would mean three different technical indicators are issuing a bullish signal at the same time.

It remains technical analysis, however. The signals offer no guarantee that the price will actually continue to rise.

Analyst ultimately sees $1.40 as the price target

Alongside the three indicators, Martinez is looking at a parallel channel in which he believes SUI is moving on the weekly chart.

The midpoint of that channel sits around $1.03. According to the analysis, that forms the first upside target. From the confirmation level of $0.98, that would require a gain of around 5%.

A convincing breakout above $1.03 would then bring the upper edge of the channel into view. That sits around $1.40. From $0.98, that would amount to a potential rise of almost 43%.

For now, that move has yet to be confirmed. SUI first needs to clear $0.98 to trigger the third technical buy signal as well. After that, $1.03 is the next important hurdle before Martinez’s eventual target of $1.40 comes into play.