SUI Price Analysis: On-Chain Growth and Technical Breakout Signal New Highs

The Sui (SUI) network is capturing significant attention from traders and analysts alike, with its native token demonstrating formidable strength. On Monday, SUI climbed to $3.1110, marking a solid 3.85% increase over a 24-hour period. This rally was not a fleeting spike but the culmination of a sustained multi-hour uptrend that saw the asset decisively break through several key resistance levels. The token reached a session high of $3.1554 before a minor consolidation, but strong trading volume throughout the move suggests a high degree of conviction among buyers. This price action comes as prominent crypto analyst Michaël van de Poppe highlighted SUI as a “super interesting as an ecosystem,” pointing towards a confluence of bullish on-chain metrics and a promising technical chart structure that could propel the token into a new price discovery phase.

Fundamental Strength: A Deep Dive into SUI's Ecosystem Expansion

The bullish sentiment surrounding SUI is firmly rooted in its explosive on-chain growth. According to analysis shared by van de Poppe, the network's fundamentals have improved dramatically in recent months. The total stablecoin supply circulating on the Sui network has surged from approximately $400 million in January to nearly $1.2 billion, indicating a massive influx of capital and liquidity into its decentralized finance (DeFi) ecosystem. Furthermore, the Total Value Locked (TVL) on Sui has skyrocketed to $1.8 billion, placing it as the third-largest non-EVM (Ethereum Virtual Machine) chain by this metric. This is a critical indicator of user trust and platform utility. This growth is further supported by accelerating wallet adoption, bolstered by strategic integrations like the Phantom wallet and the launch of Slush, the network's rebranded native wallet. SuiLend, a key lending protocol on the network, has seen its own TVL jump by an astonishing 90% over the past month to exceed $600 million, showcasing vibrant activity within its core DeFi applications.

Technical Outlook: The Path to a New All-Time High

From a technical trading perspective, SUI's chart presents a compelling case for continued upside. During the analysis period, the token carved out a clear intraday range between $2.9742 and $3.1554. The initial move saw a decisive break above the $3.08 resistance level, which has since begun to act as a new support floor. This breakout was validated by significant trading volume, with over 12 million SUI units changing hands between 01:00 and 07:00 GMT, signaling broad accumulation. A particularly notable event occurred at 13:56 GMT when a volume spike of over 1 million units propelled SUI through the $3.12 level. Following this push, the price established a new support base around this area, a classic sign of a successful breakout and continuation. Michaël van de Poppe identifies the $3.30 price level as the next critical hurdle. He suggests that a sustained close above this zone, which represents a key area of liquidity, could trigger a powerful rally toward new all-time highs.

SUI vs. The Market: A Comparative Performance Analysis

To fully appreciate SUI's recent performance, it's crucial to view it within the context of the broader altcoin market. While SUI posted a 3.85% gain, other major Layer-1 blockchains showed mixed results. Solana (SOL), a market favorite, also displayed significant strength, rallying 4.165% to trade at $150.06 on the SOL/USDT pair. This suggests a broader risk-on appetite for high-performance L1 ecosystems. The SOL/BTC pair’s impressive 4.197% gain further underscores its strength relative to Bitcoin. In stark contrast, Cardano (ADA) appeared more subdued, with the ADA/USDT pair posting a minor 0.107% gain to $0.5613. More tellingly, the ADABTC pair declined by 0.571%, indicating that it was losing ground against the market leader. This divergence highlights a potential market narrative where capital is flowing towards newer, high-growth ecosystems like Sui and Solana, which are demonstrating rapid on-chain expansion, rather than more established but slower-moving projects. For traders, this presents opportunities for pair trades, such as going long SUI or SOL while shorting ADA, to capitalize on this relative strength differential.