8 hours ago
SUI SUI traded astatine $3.1110 connected Monday, rising 3.85% implicit the past 24 hours pursuing a multi-hour uptrend that pushed the token done cardinal absorption levels. The plus deed a league precocious of $3.1554 earlier settling conscionable supra $3.11, with beardown measurement supporting the breakout attempt.
Michaël van de Poppe called SUI “super absorbing arsenic an ecosystem” successful a post connected X earlier Monday, pointing to respective large on-chain milestones. The stablecoin proviso connected the Sui web has grown from $400 cardinal successful January to astir $1.2 billion. Meanwhile, full worth locked (TVL) has reached $1.8 cardinal — ranking 3rd among non-EVM chains. Wallet adoption is besides accelerating, helped by the integration of Phantom and the motorboat of Slush, the rebranded SUI wallet.
SuiLend, the protocol’s lending platform, has seen its TVL surge 90% implicit the past period to much than $600 million. Van de Poppe noted that this growth, coupled with erstwhile bullish illustration behavior, whitethorn acceptable the signifier for a beardown breakout if SUI tin adjacent supra $3.30. He described that level arsenic a cardinal liquidity portion that could spark a determination to caller highs.
The investigation play besides showed beardown purchaser engagement, peculiarly astir $3.12. Price concisely consolidated aft the highest but continued to signifier higher intraday lows — suggesting continued momentum contempt a humble cooldown from league highs.
Technical Analysis Highlights
- During the investigation period, SUI traded betwixt $2.9742 and $3.1554, marking a 6.09% intraday move.
- Price formed a accordant uptrend, breaking supra $3.08 absorption with enactment establishing astatine $2.96–$2.97.
- Volume exceeded 12 cardinal units betwixt 01:00 and 07:00 GMT, confirming wide accumulation interest.
- At 13:56 GMT, SUI surged done the $3.12 level connected a measurement spike implicit 1 cardinal units, initiating a breakout.
- Between 13:56 and 14:03 GMT, terms enactment remained beardown and formed a caller enactment set astir $3.12.
- Toward the extremity of the investigation window, SUI precocious from $3.09 to $3.13 successful a 1.29% move, closing with bullish continuation patterns intact.
Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.
English (US) 