Sui Price Surges 27.5% Amid Bitcoin Momentum and Futures Launch
Sui (SUI) has seen its price surge in recent days, rallying 27.5% from $0.65 to $0.83 over a three-day period. The Bitcoin momentum has translated well across the crypto market, with many altcoins experiencing double-digit percentage gains this week.
The Aftermath Perpetuals Futures V2 going live on the Sui mainnet likely contributed to the bullish sentiment. The analyst noted that the $0.78-$0.83 supply zone was smashed apart easily during the rally and has since been retested as support, opening the way for a bigger price move toward $1.25 or higher.
The TD Sequential technical indicator on the monthly timeframe gave a buy signal, indicating a potential 1-4 month upswing in price action. The SUI token was also forming a doji star pattern on the monthly timeframe, which tends to accompany the end of a downtrend.