Recent Sui Network achievements put the token on track for a run to $10. With $2.3 trillion in assets unlocked, forming a bullish Cup and Handle pattern, and now reaching $5 billion in DEX volume, Sui is making waves in the blockchain space.
Sui’s Unified Chain Boosts Asset Freedom
The crypto market is seeing the influence of Sui Network as it has recently unlocked $2.3 trillion in assets. The ability to support BTC, ETH, and SOL makes Sui’s focus on interoperability the fuel behind its achievement.
Unlike many blockchains, Sui eliminates the need for bridges, and cross-asset transactions are smoother and more secure. The network’s sub-second MPC finality ensures swift transaction confirmation and offers the user a better experience.
This is where Sui takes its infinite scalability tool, where it can increase transaction load without any performance loss. This further secures Sui’s mission to bring together all blockchain ecosystems, ensuring a simple, secure experience for users, in contrast to other networks.
Cup and Handle Pattern with a $10 Target
Crypto analyst Allex Clay points out a bullish setup for SUI, whereby the token has just retested the neckline of a Cup and Handle formation that has broken, classically a technical pattern that is considered a bellwether for higher prices.
For Alex, he calls this a full send moment, meaning there is strong optimism around SUI price movement. If SUI can maintain momentum, it appears that it could rise to $6.9 and $9.6 target levels, with the retest acting as possible support for growth.
Sui Hits $5B DEX Volume, Surpassing Aptos’ 21-Month Performance
ToreroRomero tweets that Sui Network has hit a milestone in reaching a DEX trading volume of $5 billion this month. The stunning performance of the market highlights Sui’s adoption rate overtaking what Aptos built from the first 21 months, according to this volume.
In this case, we compare in a visual way the trading volumes between Sui (in blue) and Aptos over time. The data shows that Sui is far more prevalent than Aptos, and there are large spikes almost every time in recent periods.
This building on Sui’s rapid growth and rising market weight underscores the amount of Sui’s recent momentum and market impact compared to its competitor, Aptos.
Technical Analysis Show SUI Potential Surge to $3
A descending diagonal resistance has been broken above by SUI. This is a bullish indicator for upward price movement.
The $3 psychological resistance level serves as the target, which is a 60% increase from the current levels. Traders will often pay attention to these levels, often acting as a bump before more upside. A shorter-term support level is at $1.84, which could serve as a pullback zone if the price dips.
RSI is at 61.3, that’s not a sell signal yet and not an oversold buying signal either. That means there’s still extra space to run before hitting overbought territory.
