Over the past week, the price of the SUI token has jumped nearly 12% to $3,59. Analysts predict that Altcoyin will continue to rise to the $5 mark.
According to Michael van de Poppe, Sui is poised for a major breakthrough as its chart structure looks very promising, indicating growing strength in the ecosystem and increasing investor interest.
SUI is preparing for a major breakthrough. It’s poised for a new all-time high, he wrote.
It’s worth noting that the token’s rise followed the recent SUIFest, a community and developer event that drew attention to the project. Since then, network activity has increased, and the total value locked (or «Total Value Locked») has increased. T) reached $2,46 billion, which is a new record.
Sui is currently trading at $3,59, with a market capitalization of $13,22 billion. Despite this, token remains about 31% below its all-time high of $5,35 set on January 6, 2025.
Meanwhile, SUI is performing well compared to other altcoins. The coin responded well to support near the 23,6% Fibonacci level, rebounding from recent lows. Key support levels to watch are $3,50 and $3,42. Resistance on the upside begins at $3,72, followed by $3,80, with a target near $3,88, which corresponds to the upper boundary of the current trend channel.