bitcoin
Bitcoin (BITCOIN)
$113,284 3.43%
ethereum
Ethereum (ETHEREUM)
$2,816 3.69%
binancecoin
BNB (BINANCECOIN)
$676.00 1.65%
solana
Solana (SOLANA)
$160.27 3.47%
ripple
XRP (RIPPLE)
$2.50 4.46%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 4.93%
pepe
Pepe (PEPE)
$0.000012 11.11%
bonk
Bonk (BONK)
$0.000023 12.61%
bitcoin
Bitcoin (BITCOIN)
$113,284 3.43%
ethereum
Ethereum (ETHEREUM)
$2,816 3.69%
binancecoin
BNB (BINANCECOIN)
$676.00 1.65%
solana
Solana (SOLANA)
$160.27 3.47%
ripple
XRP (RIPPLE)
$2.50 4.46%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 4.93%
pepe
Pepe (PEPE)
$0.000012 11.11%
bonk
Bonk (BONK)
$0.000023 12.61%
bitcoin
Bitcoin (BITCOIN)
$113,284 3.43%
ethereum
Ethereum (ETHEREUM)
$2,816 3.69%
binancecoin
BNB (BINANCECOIN)
$676.00 1.65%
solana
Solana (SOLANA)
$160.27 3.47%
ripple
XRP (RIPPLE)
$2.50 4.46%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 4.93%
pepe
Pepe (PEPE)
$0.000012 11.11%
bonk
Bonk (BONK)
$0.000023 12.61%
Disclosure
Cryptocurrency trading is speculative and your capital is at risk when you trade. We may earn affiliate commissions from some of the products on this page - at no extra cost to you.
SUI Price Prediction – SUI Could Soon Hit $3.99 as Momentum Builds Up

Highlights:

  • SUI is trending towards $3.99, multi-week resistance 
  • A rally through $3.99 could push SUI to its $5.36 high 
  • Strong bullish momentum post-unlocks could trigger such a rally

SUI (SUI) is one of the top-performing cryptocurrencies today, outpacing most in the top 100. When writing, SUI is trading at $3.23, up by 10.29% on the day. Besides the upside price momentum, SUI trading volumes are also rising. They are up by 128.76% in the day to stand at $1.24 billion. This is a big deal as it shows that there is surging FOMO around SUI despite the price jump. It indicates that the average trader believes SUI is still undervalued at $3.23 and could be headed much higher. 

Advertisement

Banner

SUI Holds Strong Despite Massive Token Unlocks

One factor driving SUI momentum is the fact that a token unlock earlier this month has not negatively impacted the price. On July 1, SUI had a token unlock of 44 million tokens worth $122 million. This is more than 1% of the total SUI in the market. Around the same time the 44 million were released into circulation, there are reports that another bunch of SUI tokens worth roughly $323 million were released.

While such an increase in supply usually leads to a price dump, SUI was largely unaffected. The price continued consolidating around the $3 level. This sends the message that the demand for SUI is so strong that even token unlocks are not impacting its price. As such, now that the broader market is sending bullish signals, investors are likely going all in on expecting the price to do even better. With the price unlocks now behind it and the extra supply already priced in, the expectations for a rally in the short term have a solid basis to them. 

SUI Price Rises as TVL Nears $2B

Fundamentals are also driving SUI’s momentum. According to data from DeFiLlama, SUI has recorded double-digit growth in its total value locked. The value has now approached $2 billion and could be headed much higher in the foreseeable future. The growth in SUI TVL is linked heavily to the growing adoption of SUI by major organisations looking to go on-chain.

One such organisation is Real Media, a well-known financial media company. The company recently announced that it will offer rewards on-chain via the SUI network. Additionally, Coinbase, one of the largest cryptocurrency exchanges in the world, has started using the SUI network for USDC transactions.

SUI Architecture Likely to Drive Adoption

This adoption is likely to go even higher thanks to its architecture, which makes it attractive to developers. SUI runs on the MOVE programming language, allowing for parallel processing of transactions. This makes it perfect for developers looking to build gaming Dapps, and finance, among other applications, increasingly being done on the blockchain. This intrinsic advantage will likely continue to drive developers into SUI, which could drive demand long term. It gives SUI the potential to rally to prices above $10 as blockchain applications grow.

Technical Analysis – SUI Price Trending Towards $3.99 Resistance

SUI is broadly between the $3.99 resistance and $1.88 support. Currently, SUI is surging higher and pushing towards the $3.99 resistance. This makes the $3.99 price level a realistic target in the short term.

sui
Source: TradingView

If bulls sustain momentum and rally through $3.99, SUI could hit $5.36, the high it last hit in December 2024. Given the broader market momentum and strong underlying demand for SUI, such a price move is realistically achievable in the short term.

eToro Platform

Best Crypto Exchange

  • Over 90 top cryptos to trade
  • Regulated by top-tier entities
  • User-friendly trading app
  • 30+ million users
9.9

5 Stars

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.

Advertisement

Banner

Advertisement

Banner

Advertisement

Banner