- SUI is trading near $1.22 after three consolidation-and-breakout sequences since September 12.
- Daily transactions rose from about $16.9 million to $34.96 million on October 1, roughly double over the past month.
- Ali Martinez (@alicharts) says a fourth parallel channel is forming. The trigger is an hourly close above $1.27.
- The chart target on a confirmed break is $1.60, about 31% above $1.22. Support under the current channel is $1.11.
SUI has spent the past few weeks stepping higher in a structure that is easy to see on the 2-hour chart. Price consolidates inside a parallel channel, breaks out, builds another channel at a higher base, and breaks again. Ali Martinez flagged the sequence on October 2: since September 12 it has already played out three times, and another channel is now forming. The next leg, on his read, does not start until an hourly close clears $1.27.Activity on the network has moved with the price.
Daily transactions were near $16.9 million at the start of the lookback and printed $34.96 million on October 1, 2026. That is about a doubling over the month. The series was not a straight line. It ran in the high teens to mid-$20 millions through early September, dipped toward $16 million around September 11, then spiked above $45 million around September 20 before settling in a $30–$38 million band into the end of the month. The October 1 reading of $34.96 million sits in that higher band, not back at the early-September base.
The Pattern
The setup is a stair-step, not a single trendline break. Each box is a pause. Price trades a range, the range holds, and the break comes out of the top of the channel.
On the 2-hour chart the boxes stack higher. The first sits in the mid-$0.70s. Later channels form near $0.90 and around $1.00. The latest box is wider, with a midline marked near $1.18. Each prior box resolved upward. The most recent spike on that chart reached about $1.40 before price slipped back into the new range near $1.22.
Ali’s text is narrower than a full chart markup. He does not treat the $1.40 spike as the objective of the next leg. He says SUI is building another parallel channel, and the level he is watching is $1.27. An hourly close above it could confirm another bullish breakout and mark the start of the next leg higher.
The Trigger and the Target
$1.27 is the only confirmation in the post. A wick through it is not the signal he names. The condition is an hourly close above the top of the channel now forming.
If that close prints, the measured next level on the chart is $1.60. From $1.22, that is about 31% upside. It is a projection tied to the breakout, not a level already traded on this leg. The earlier print near $1.40 is the recent spike. $1.60 is the level the structure points to after $1.27 gives way.
The transaction pickup does not confirm that break. It does show the stair-step has not happened on flat network usage. Daily transactions are holding near $35 million after a peak above $45 million, well above the $16.9 million area from the start of the window.
Support
$1.11 is the support under the current channel. Holding above it keeps the stair-step intact while price works on $1.27. A dip into the box is normal for this pattern. The earlier pauses all traded a range before the break.
The $1.18 line on the chart sits inside the latest box. It is a reference through the channel, not the breakout trigger and not the floor. Support for the structure is $1.11. The trigger is $1.27.
Bullish Scenario
An hourly close above $1.27 confirms the breakout Ali is watching. From $1.22, the chart target is $1.60, about 31% higher. The path matches the last three sequences: channel, break, higher channel. Daily transactions holding near $34.96 million, rather than falling back toward $16.9 million, would fit a move that still has network activity behind it. The call stays unconfirmed until the hourly close prints and $1.11 continues to hold.
Bearish Scenario
Failure to close an hour above $1.27 leaves the new channel intact and the next leg unconfirmed. A move below $1.11 support would weaken the stair-step. The post does not give a lower measured target beyond that loss of support. Below $1.11, the prior channel area near $1.00 is the next zone visible on the same 2-hour chart. A drop in daily transactions back toward the mid-September trough would weaken the activity backdrop as well.
Summary
SUI has broken out of three parallel-channel consolidations since September 12. Daily transactions rose from about $16.9 million to $34.96 million by October 1. Ali says a fourth channel is forming. The trigger is an hourly close above $1.27. Support is $1.11. If the break confirms, the chart target is $1.60, about 31% above $1.22.
Frequently Asked Questions
What confirms the next SUI leg?
An hourly close above $1.27, the level Ali Charts is watching.
What is the upside if that close prints?
$1.60 on the chart, about 31% above the current $1.22 price.
What invalidates the setup?
A loss of $1.11 support. That is the floor under the current channel.
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