- Sui’s TVL and transaction volumes continue rising despite broader market weakness
- Bullish reversal possible if Sui breaks and holds above the critical $2.85 level
- Falling wedge pattern and EMA support hint at Sui’s potential breakout momentum
While the broader crypto market remains in a downtrend, the Sui (SUI) blockchain is emerging as a standout contender, with booming on-chain fundamentals and a bullish technical structure that suggest it could be poised to lead the next major market rally. A significant disconnect is growing between the network’s explosive ecosystem growth and its currently consolidating price, a dynamic that has captured the attention of top market analysts.
Born from the remnants of Facebook’s ambitious Diem project, Sui has rapidly carved out a position as a top-tier Layer 1 platform, driven by its unique architecture that enables remarkable scalability and a seamless user experience.
A Fundamental Powerhouse: On-Chain Metrics Soar
The primary case for Sui’s potential is rooted in its undeniable on-chain growth. Sui’s total value locked (TVL) and transaction volumes continue to break new highs. This steady on-chain growth signals ongoing developer and user engagement.
Moreover, the ecosystem is expanding rapidly, gaining attention from analysts and investors alike. Michaël van de Poppe, a crypto analyst, has highlighted Sui’s rapid development as a key reason to keep a close eye on the project.
Key Technical Zones and Market Structure
On the technical side, several analysts have provided detailed insights. Naveed notes that Sui’s price is respecting a key demand zone near $2.39. This could mark the beginning of a bullish reversal.
If the price breaks above the $2.85 resistance and holds, a shift in market structure is likely. This move could then push the price toward the $3.83 mid-range. A further breakout may send it into the $4.31 supply zone, offering a possible upside of 44.43%.
Related: Sui Price Prediction: SUI Eyes Breakout Above $3.30
However, the $3.58–$3.64 range remains a significant resistance barrier. Failing to hold above the $2.39 support zone could invalidate this setup and lead to further downside. Currently, the price is hovering just above this critical support, making $2.85 the decisive level to watch.
Momentum Building and Technical Patterns
CryptoBullet adds to the bullish narrative with his recent analysis. He points out that Sui bounced off the EMA/MA365 levels in March and April. This was followed by a move toward his mid-term price target.
The price is again testing those same moving averages while forming a falling wedge pattern. Historically, this pattern often leads to bullish breakouts. He believes this is where Sui could establish a higher low before setting a new all-time high.
The Verdict: A Disconnect Between Price and Value?
At the time of writing, SUI is priced at $2.81, marking a 2.79% gain in the last 24 hours. The weekly decline of 14.29% contrasts with a significant 24-hour trading volume of over $808 million.
Related: SUI Price: How High Can SUI Go Following Nasdaq ETF Filing?
With a circulating supply of 3.4 billion SUI, its market cap stands above $9.5 billion, underlining its solid position among top-performing Layer 1 blockchains.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
