- SUI price has exploded over 60% this week, driven by a 38% TVL jump and 177% rise in DEX volume.
- RSI suggests the rally is in overbought territory, but Fibonacci levels show a path to $4.98.
- Sui’s team up with xMoney and xPortal enables real-world payments with a branded Mastercard
Sui Network ($SUI), a high-performance Layer 1 blockchain, has captured the spotlight this week, delivering standout gains exceeding 60% and hitting $3.71 before settling around $3.65 at press time, still a sharp leap from its intraday low of $2.96.
This rally isn’t just market noise; it’s underpinned by robust on-chain fundamentals, significant ecosystem expansion, and a strategic move into real-world Web3 payments.
On-Chain Metrics Signal Strong Network Health
Sui’s recent price action finds strong support in its on-chain data. According to Lookonchain, SUI’s total value locked (TVL) has climbed 38% in just one week to reach $1.645 billion. Meanwhile, 24-hour DEX volume skyrocketed 177% to $599 million.
Stablecoin liquidity on the network also reflects growing investor confidence, with stablecoin supplies on Sui rising 82% over the last two months, from $482 million to $879 million.
Data from Artemis further highlights that the price surge, which began in mid-April from $2.10 levels, was closely tied to a spike in active addresses and DEX volume.
Active users peaked at 1.7 million on April 20, and a subsequent increase in trading activity propelled SUI’s price to $2.70 by April 22, setting the stage for this week’s explosive move above $3.60.
Real-World Utility: xMoney and xPortal Integration
Adding to the bullish narrative, Sui announced a major partnership with xMoney and xPortal, bringing full-stack digital payment infrastructure to the European market.
The collaboration enables SUI-powered wallets integrated into xPortal to be linked with a branded virtual Mastercard, compatible with both Apple Pay and Google Pay.
A physical card is set for release later this year, expanding SUI’s real-world usability.
SUI Technical Analysis: Bullish Targets Meet Overbought Conditions
With SUI now above the 1.618 Fib level at $3.15, the next targets include 2.618 level at $3.85, 3.618 level at $4.55, and 4.236 level at $4.98. These targets suggest continued upside potential if bullish momentum persists.
However, caution is warranted. The RSI currently sits at 77.89, well into overbought territory. Historically, such levels precede short-term corrections or consolidation phases.
A pullback toward support around the 1.618 Fib ($3.15) or the breakout region near $2.70 could offer healthier entry points for latecomers.
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