$SUI 3.13$
It traded at 3.1110 USD on Monday, up 3.85% over the past 24 hours, following a bullish trend that lasted several hours, pushing the digital currency through key resistance levels. The asset reached a session high of 3.1554 USD before stabilizing just above 3.11 USD, supported by strong trading volume backing the breakout attempt.
Michael van de Poppe described $SUI
He referred to it as "an extremely interesting ecosystem" in a post on X earlier on Monday, pointing to several key achievements on the chain. The supply of stablecoins on the Sui network grew from 400 million USD in January to nearly 1.2 billion USD. Meanwhile, the total value locked (TVL) reached 1.8 billion USD, ranking third among non-EVM chains. The adoption of digital wallets is also accelerating, supported by the integration of Phan,tom and the launch of Sl,ush, a brand new $SUI wallet.
The lending platform of the protocol, SuiL,end, saw an increase in the total value of assets by 90% over the past month, exceeding 600 million USD. Van de Poppe noted that this growth, along with the previous upward behavior of the chart, could pave the way for a strong breakout if #SUİ closes above 3.30 USD. He described this level as a key liquidity area that could spark a rally towards new all-time highs.
The analysis period also showed strong buying activity, particularly at the 3.12 USD level. The price stabilized briefly after the peak but continued to create higher lows throughout the day, indicating ongoing momentum despite a slight pullback from session highs.
Key results of technical analysis
During the analysis period, SUI's stock traded between 2.9742 and 3.1554 USD, recording an increase of 6.09% for the day.
The price formed a steady upward trend, surpassing the resistance level at 3.08 USD, with the support level centered around 2.96-2.97 USD.
The trading volume exceeded 12 million units between 01:00 and 07:00 GMT, confirming widespread interest in accumulation.
At 13:56 GMT, SUI's stock rose above the 3.12 USD level, influenced by an increase in trading volume of over one million units, leading to a price breakout.
Between 13:56 and 14:03 GMT, the stock price remained strong and formed a new support range around 3.12 USD. As the analysis period approached its end, SUI's stock rose from 3.09 USD to 3.13 USD, an increase of 1.29%, closing on a strong bullish continuation pattern.
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