SUI Price Analysis: Primed for Breakout Amid Strong Fundamentals

Crypto analyst Michaël Van De Poppe highlighted SUI's potential for a significant rally in a recent post on social media platform X, noting that the token is "on the edge of a new run towards highs." This optimism follows SUI's strong performance on Monday, where it traded at $3.1110, marking a 3.85% gain over the past 24 hours. The asset surged to an intraday high of $3.1554, breaking through key resistance levels on robust volume, which supported a multi-hour uptrend. Van De Poppe emphasized SUI as "super interesting as an ecosystem," citing accelerated on-chain growth that could fuel further price appreciation if critical technical thresholds are breached.

Robust On-Chain Metrics Drive Bullish Sentiment

According to Van De Poppe, the Sui network has demonstrated substantial expansion in key metrics, with stablecoin supply growing from $400 million in January to nearly $1.2 billion currently. Total value locked has reached $1.8 billion, ranking SUI third among non-EVM chains and signaling increased institutional and retail adoption. Wallet growth is accelerating, driven by integrations like Phantom and the launch of Slush, the rebranded SUI wallet, which enhances accessibility and user engagement. Additionally, SuiLend, the protocol's lending platform, saw its TVL surge by 90% over the past month to over $600 million, underscoring the ecosystem's deepening utility and liquidity. These fundamentals, combined with favorable market sentiment, position SUI for potential upside, particularly if broader crypto trends align with its growth trajectory.

Technical Indicators Confirm Breakout Momentum

Technical analysis during the session revealed a consistent uptrend for SUI, with the price ranging from $2.9742 to $3.1554, resulting in a 6.09% intraday move. Resistance at $3.08 was decisively broken, while support established firmly between $2.96 and $2.97. Volume data confirmed strong buyer interest, with over 12 million units traded between 01:00 and 07:00 GMT, indicating broad accumulation. A pivotal breakout occurred at 13:56 GMT when SUI surged past $3.12 on a volume spike exceeding 1 million units. From 13:56 to 14:03 GMT, the price consolidated and formed a new support band around $3.12, suggesting sustained momentum despite minor pullbacks. Toward the end of the analysis window, SUI advanced from $3.09 to $3.13, a 1.29% move, closing with bullish continuation patterns intact, which hints at ongoing upward pressure.

Van De Poppe identified $3.30 as a key liquidity zone; a daily close above this level could trigger a strong breakout toward new highs. Traders should monitor volume spikes and resistance tests closely, as the combination of high on-chain activity and technical strength offers compelling entry opportunities. With SUI forming higher intraday lows and maintaining support, the asset appears well-positioned for gains, making it a focal point for short-term strategies in the volatile cryptocurrency market.