- Sui surges after SUIFest, drawing strong investor and developer interest.
- Analyst predicts major Sui breakout as network activity hits record highs.
- Sui shows strength on charts, holding firm above key support levels.
The crypto market continues its steady climb as total capitalization rises to $4.29 trillion, reflecting a 2.23% increase in 24 hours. Major coins such as Bitcoin, Ethereum, XRP, and BNB maintain upward movement, with Bitcoin trading above $124,000 and Ethereum nearing $4,700. Amid this broader surge, Sui (SUI) is quietly attracting growing attention within the altcoin space.
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SUI Rides the Wave After SUIFest Event
Sui’s performance in recent days has been notable, rising 12% over the past week. According to Michael van de Poppe, the token’s current chart pattern signals that it is preparing for a significant breakout. He described the setup as “very promising,” suggesting increased strength and investor engagement within the Sui ecosystem.
Momentum around the project accelerated after SUIFest, a community and developer event that drew wide participation. Since then, network activity has risen sharply, and Sui’s total value locked has reached $2.46 billion, marking a new record high. This milestone underscores the ecosystem’s growing presence in the decentralized finance landscape.
Moreover, Sui is trading at $3.64, up 2.57% in the past day, with a market capitalization of $13.22 billion. Despite the recent gains, the token remains about 31% below its all-time high of $5.35, achieved on January 6, 2025.
SUI Technical Outlook Shows Strength
Market analysts point to Sui’s strong reaction at the 23.6% Fibonacci level, which helped it rebound from recent lows. Key support levels are seen near $3.50 and $3.42, while immediate resistance sits around $3.72 and $3.80. The next target is positioned near $3.88, aligning with the upper trend boundary.
Additionally, Sui continues to gain traction on the Bluefin decentralized exchange, where a token buyback initiative has maintained steady demand since early October. The increasing activity on the buyback dashboard highlights ongoing support from both traders and the project’s community.
Sui currently trades within a balanced range between tested support and emerging resistance zones. Further movement could depend on Bitcoin’s stability as the market approaches the weekly candle close.
Growing Interest in Utility-Based Altcoins
The recent momentum around Sui illustrates a wider market trend where investors are showing renewed interest in utility-driven blockchain projects. As liquidity shifts toward ecosystems offering scalability and active development, Sui’s consistent network growth and expanding DeFi use cases continue to strengthen its position among the top-performing altcoins.
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