SUI Price Prediction: SUI Bulls Target $2.21 Zone as Derivatives Demand and TVL Rise

Highlights:

• Sui price has rallied to $1.97, marking a 16% surge, as bullish momentum builds.
• The on-chain and derivatives data indicate increased investor confidence, reinforced by the rising open interest and TVL. 
• The technical outlook signals further upside as Sui bulls target $2.21 resistance, backed by the positive momentum indicators.

Sui (SUI) price has skyrocketed 16% in the past 24 hours, to exchange hands at $1.97, as the bulls show no signs of exhaustion. The daily trading volume has also spiked 97% to $1.79 billion, indicating intense market activity. The favourable on-chain and derivative data are also an indicator of the bullish trend, with the technical outlook indicating more profit, aiming at the short-term resistance of $2.21-$2.41.

Santiment data show that the trading volume (the total trading volume of all exchange applications in the chain) of the Sui ecosystem is eyeing its peak of $967.43 million on Tuesday. This increase in volume shows the interest and liquidity spurt in SUI traders, making it bullish.

According to data provided by crypto intelligence tracker DefiLlama, the Total Value Locked (TVL) of Sui has steadily increased by 7.05% in the past 24 hours to $1.059 billion on Tuesday. This trend in TVL is a sign of increased activity and engagement with Sui. This further implies that more users are depositing or using assets on SUI-based protocols.

On the other hand, the Coinglass data shows Sui’s futures open interest has increased by 22.64% to $985.93 million. This shows heightened investor interest, as new money is flowing into the SUI market, further increasing the odds of a potential rally to $2.21.

SUI Bulls Target $2.21 as Bullish Momentum Builds

On the daily chart, the SUI price has climbed from the firm support around $1.31 zone, printing six consecutive green candlesticks to $1.97. The chart shows the price now trading just above the 50‑day Simple Moving Average (SMA) near $1.52, and remains just below the 200‑day SMA around $2.75. This alignment keeps the broader uptrend intact, as the SUI bulls target $2.21 immediate resistance zone.

A bounce from current levels and a daily close back above the $2.21 level would signal that bulls are ready to push the Sui price back toward the $2.41-$2.70 zones. In a highly bullish instance, the token may retest the $2.75 long-term resistance if momentum builds.​

The Relative Strength Index (RSI) sits at 74.17, indicating intense buying pressure. This cushions traders of a possible pullback, as the token sits above the 70+ territory. The MACD histogram is also positive, showing that the bulls are having the upper hand. The momentum indicators further add to the bullish grip evident in the market.

For the short term, the base case is that the SUI price is eyeing the $2.21 resistance. With the positive technical outlook and derivatives data, increased momentum could see SUI target $2.41-$2.70 resistance. Conversely, if the price drops below $1.52 support area and loses the 50‑day SMA, the next strong floor sits around $1.31-$1.22.