The SUI token has triggered a key technical macro signal after crossing above $1.00, prompting crypto analysts to forecast a major trend reversal following an 83% drop during its bear market drawdown.
Technical Indicators Signal Uptrend
According to crypto analyst Ali Martinez, SUI's weekly chart recently saw its Parabolic SAR dots flip below the price line, a technical indicator used to identify trend direction and potential reversals. Martinez stated that this weekly flip indicates SUI has transitioned from a prolonged downtrend into a new bull market.
This signal follows earlier technical developments highlighted by Martinez, including a 13th buy signal from the Tom DeMark (TD) Sequential printed in late July and a bullish flip on the SuperTrend indicator. Based on these setups, Martinez outlined a price target of $1.40.
The momentum comes after SUI recently crossed the $1.00 psychological level to hit a four-month high of $1.05 before pulling back to $0.95, according to data from CoinGecko. The movement arrives amid wider interest in alternative layer-1 networks during a broader altcoin surge.
Analysts Project Price Targets Up to $5.00
Several market commentators have recently shared bullish projections for the asset. Analyst Lucky noted that SUI is showing traits reminiscent of NEAR during its prior expansion, pointing to strong development activity, ecosystem growth, and network momentum. Meanwhile, analyst Michael van de Poppe correctly anticipated a short-term correction before projecting potential upside targets of $1.16 and $1.60.
Key analyst projections currently include:
- Crypto Tony: Setting an initial profit-taking target at $1.12.
- KALEO: Predicting a rapid price squeeze moving from $1.00 directly to $2.00.
- Crypto With Gopal: Identifying a double-bottom chart pattern defending the $0.55–$0.60 support zone twice, with a neckline at $2.70 projecting a move toward $5.00 if broken convincingly.
Why It Matters
A weekly Parabolic SAR flip after an 83% drop is a major macro event that often attracts technical traders and momentum investors back into layer-1 tokens. If SUI can sustain support above $1.00 and push past intermediate resistance at $1.12 and $1.16, it would validate a fundamental trend reversal. However, traders should watch trading volume closely to see if buyers can drive the price toward the key $2.70 neckline or if price action consolidates near current levels.
