Sui [SUI] appears to be gearing up for a bullish trend in the past 24 hours, marked by a 10.52% increase in price and heightened network activity.
As of now, the trading price of SUI stands at $3.31, showing an uptick from the critical $2.85 support level within the 4-hour timeframe. As per data from Cryptowaves, the RSI level sits at 45, indicating a neutral market sentiment following a prolonged phase of bearish movement.
Sustaining the support range of $2.85 to $3.00 in shorter timeframes confirms the upward trend in longer timeframes.
As per insights from Solberg Invest on X (formerly Twitter), SUI has the potential to exceed its all-time high of $5.35, surpass the significant level of $6.16, and aim for the resistance level at $7.22.
Insights from On-Chain Metrics
According to data from OKlink, there has been a substantial increase of 55,522 active addresses within the Sui Network over the past 24 hours. The total number of addresses grew by 102,883, accompanied by a 7.15% rise in trading volume.
Furthermore, cryptocurrency analyst Giannis Andreou highlighted the increasing adoption of the Sui network in a recent post.
He pointed out that Sui is witnessing greater transaction volume compared to the combined volumes of Ethereum, Arbitrum, and Optimism in 2025, with daily transaction figures steadily rising.
Current Market Sentiment Analysis
Based on data from Coinglass, the coin has recorded a surge in 24-hour Open Interest across major exchanges, reflecting a positive market sentiment following weeks of bearish trends.
At present, the daily Long-to-Short Ratio stands above 2.3, according to statistics from Coinanalyze. This data indicates a sense of positivity and a bullish market sentiment prevailing on prominent exchanges.
Future Prospects
The Sui Network is anticipated to introduce more initiatives to enhance its ecosystem. Its advantages include low fees, scalability, and efficient transaction processing.
In addition, the Sui blockchain is actively embracing the realms of DeFi and NFTs as part of its expansion strategy.
If the $2.85 support level holds, the coin is likely to sustain its bullish momentum aiming towards the critical $6.12 level. A successful hold here could propel SUI towards the resistance zones at $7.00 and $7.22.
Investors are advised to monitor these crucial levels for confirmation before deciding on their next investment moves.