According to data from DefiLlama, SUI’s total value locked (TVL) has reached new all-time highs, indicating a robust demand for its decentralized finance (DeFi) ecosystem. The rising TVL highlights a growing interest from users and developers, further boosting confidence in SUI’s long-term potential.

The price surge is not just driven by market sentiment but is backed by tangible growth in the platform’s fundamentals. With both TVL and user engagement increasing, the positive outlook for SUI continues to build. Investors are now eyeing higher price targets as they anticipate further growth for the layer-1 blockchain in the coming weeks.

As SUI pushes to higher levels, its performance reflects both strong market support and underlying network growth, making it one of the most talked-about projects in the crypto space.

SUI TVL Signals Ongoing Rally

SUI is currently testing a crucial supply level around the $2 mark, a psychological barrier that, once surpassed, could pave the way for a surge to new highs.

Analysts are watching this level closely, as breaking through it would likely trigger a strong bullish move. On-chain data from DefiLlama supports this optimism, revealing that SUI’s total value locked (TVL) has reached an all-time high of $1.07 billion. This marks a remarkable 65% increase in TVL over the past 30 days, signaling growing confidence in the platform’s utility and long-term potential.

The rise in TVL is a net positive for the SUI coin, as it reflects the increasing adoption of the Sui ecosystem. As more value flows into the network, the demand for SUI tokens will likely grow, creating upward pressure on its price. Investors often view rising TVL as a bullish signal, suggesting that the platform is gaining traction and trust among users.

If these positive trends in TVL and overall network activity continue, a rise above SUI’s previous all-time high of $2.16 seems likely in the coming weeks. With momentum building, many expect SUI to achieve further gains, reinforcing its position as a leading layer-1 blockchain.

Price Action: Liquidity Levels To Watch

SUI is currently trading at $1.89, just 15% away from its all-time high of $2.18. The recent price action has been promising, with an 8% surge in the past hours. Many analysts believe that if SUI can break above the critical $2 level, the chances of reaching new all-time highs are very high. This psychological barrier could trigger a wave of buying pressure, pushing the price to new levels.

However, some investors are cautious, expecting a healthy correction before further upward movement. If SUI fails to break past the $2 mark, a retracement to support levels around $1.60, or even down to $1.45, would not be unexpected. Such a correction could provide a solid foundation for the next bullish leg, allowing SUI to gather momentum before attempting to breach the $2 resistance again.

Despite this, the overall sentiment remains optimistic, with many investors holding out for a new all-time high shortly. SUI’s recent performance and market dynamics suggest that the coming days will be crucial for determining its next move.

Featured image from Dall-E, chart from TradingView

Traders and investors are showing increased interest in SUI, with many speculating that this rally could be the beginning of even bigger gains in the coming months. The buzz around SUI has been amplified by its strong price action, and bullish sentiment is growing.

Analysts are closely watching the price action, with some predicting that SUI could target significantly higher levels, potentially challenging its all-time highs around $2.20 in the near future. Such a move would solidify SUI’s position as a top-performing asset in the crypto market and could attract even more capital as the market looks for the next big opportunity. 

As SUI continues to gain traction, all eyes are on its ability to sustain this momentum and break through key resistance levels, setting the stage for a potential rally to new highs. With optimism building, SUI is one to watch as the market anticipates its next move.

SUI Bullish Pattern ‘Still Playing Out�/h2>

SUI has emerged as one of the top-performing assets over the past two weeks, fueled by optimism following the Federal Reserve’s interest rate cuts announcement. Analysts and investors are eagerly watching the altcoin, hoping that the recent surge isn’t just a bull trap but the beginning of a massive rally poised to explode.

Renowned crypto trader and analyst, Kong Trading, recently shared his technical analysis on X, highlighting the potential for a significant SUI surge in the coming months. He noted that the inverted head and shoulders pattern formed in the past months is still playing out nicely and could be a powerful signal for further gains. 

According to his analysis, the key level to watch is $2. If SUI manages to break past this resistance, it could trigger a wave of FOMO (fear of missing out) among traders, propelling the price to unprecedented heights.

However, Kong Trading also cautioned that SUI’s bullish momentum depends heavily on broader market conditions and macroeconomic trends. While the current setup is promising, the asset remains vulnerable to sudden shifts in sentiment or adverse market developments. 

As SUI approaches its all-time highs, the coming weeks will be crucial in determining whether it can sustain its upward trajectory or if it will face a potential pullback. For now, all eyes are on SUI as it navigates these critical price levels, with traders hoping to see a breakout that could redefine its market position.

Key Levels To Watch

SUI is currently trading at $1.67 after an impressive 140% rally from its early September lows of $0.75. This significant price movement has brought SUI to a crucial supply zone, where the price could face resistance and potentially enter a consolidation phase. Analysts and traders are closely watching this level, as breaking above it could set the stage for further gains.

If SUI manages to break past the $1.82 resistance, it would open the door for a rally toward its all-time high of $2.18. This level will be a major target for bulls, as reclaiming it could signal the continuation of a broader uptrend and attract more buyers into the market. However, a failure to break above $1.80 could see the price retracing to lower demand levels around $1.45, which served as a key resistance back in April.

This $1.45 zone is now expected to act as strong support, offering a potential buy opportunity for traders looking to enter the market at a lower price. For now, SUI remains in a critical zone, and its next move will likely determine whether the current rally can extend toward new highs or if a consolidation phase is ahead.

Featured image from Dall-E, chart from TradingView