Sui ($SUI) spent the stretch from early June hovering near its $0.65 low, but that changed rapidly over the past few days of trading. Bitcoin's (BTC) momentum translated well across the crypto market, and many altcoins posted double-digit percentage gains this week.

$SUI was one of them, rallying 27.5% in three days — from $0.65 to $0.83 at the time of writing. The token powers the Sui network, a layer-1 blockchain built on the Move programming language by Mysten Labs, a team with roots in Meta's discontinued Diem blockchain project. The move has turned attention to how far the rebound can extend, with one analyst laying out bullish targets even as the shorter-term chart structure has not yet flipped.

Beyond the market-wide bullish sentiment, the launch of Aftermath Perpetuals Futures V2 on the Sui mainnet also likely helped bolster sentiment. Two audit reports have been published, and 15 markets, including Bitcoin, gold, and silver, have gone live onchain. Perpetual futures are among the most heavily traded instruments in crypto, and bringing them onchain has become a notable growth area within DeFi, so a live, audited perps venue adds depth to the ecosystem's trading infrastructure.

During the rally, the $0.78–$0.83 supply zone was broken apart fairly easily and has since been retested as support. That has opened the way for a bigger price move toward $1.25 or higher.

The case for $SUI as a buying opportunity

In a series of posts on X, crypto analyst Ali Martinez set out why the Sui token was about to rally and take market participants unawares.

The TD Sequential technical indicator on the monthly timeframe gave a buy signal — a shift that generally points to a potential one-to-four-month upswing in price action. On the monthly chart, $SUI was also forming a doji star, a candlestick pattern that tends to accompany the end of a downtrend.

While social media engagement remained negative, onchain activity was soaring: active addresses climbed 250% over the past week. Active addresses measure how many distinct wallets are transacting on a network, making the metric a rough gauge of actual usage rather than pure price speculation — and that divergence between flat sentiment and surging usage was central to the analyst's case. The analyst concluded that price action, onchain activity, and sentiment were “beginning to align.” Bullish price targets included $2.30, the mid-level of a rising channel, with $7.9 as the other, much more optimistic objective.

Traders’ call to action: watch the $SUI structure

AMBCrypto reported recently that the swing structure of the altcoin was still bearish on the 1-day timeframe, and the recent gains have not refuted that fact yet.

The Fibonacci retracement levels showed that the current rally is a pullback within the broader downtrend. With the $0.80 area now flipped, this rally could comfortably reach $1.12–$1.25.

A breakout past the $1.42 swing high would be needed to shift the structure bullishly. Until market participants see sustained buying and a move beyond $1.25, the bearish bias on this timeframe remains valid — and whether the week's 250% jump in active addresses holds up as price tests those levels is part of the alignment the analyst described.

Summary

According to Ali Martinez, Sui offered multiple technical indications of a bullish trend flip and a potential rally to $2.30. On the flip side, the swing structure was still bearish, and the current rally was only a pullback within a broader downtrend.