
Sui (SUI), a prominent layer-1 blockchain, has over 1.4 million daily active addresses and a massive $2.2 billion in daily trading volume, ranking 11th-largest digital asset by valuation on CoinMarketCap.
As of today, SUI is trading at around $3.80, up 13% in the past 24 hours. Although slightly below its intraday high of $3.82, this surge is backed by solid network fundamentals.
Sui’s TVL has reached $1.9 billion, a clear sign that significant capital is flowing into its ecosystem. With a market capitalization now at $12.68 billion, Sui has firmly planted itself among the top contenders in the layer-1 race, challenging the dominance of Solana (SOL).
The SUI/USDT 4-hour chart shows a strong breakout from a descending wedge – a classic bullish reversal pattern that often marks the end of a downtrend.
After months of lower highs and lower lows, SUI has surged above the wedge’s upper trendline with strong momentum, currently trading around $3.92.
The next resistance lies near $4.50, with a clear path to $5.36 if buying pressure continues. A successful flip of these levels could set the stage for a run toward $6.50 and beyond.
SUI 4H Chart. Source: TradingView
The RSI sits at 74.65, signaling overbought conditions, which may lead to a short-term pullback before the next leg up.
Meanwhile, the MACD continues to trend positively. The MACD line is well above the signal line, and the rising histogram confirms growing bullish momentum and trend strength.
If momentum holds, SUI could be gearing up for its most explosive rally of the year.
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