SUI eyes breakout as price holds above $3.12, with volume up 37% and RSI near overbought.
Total Value Locked on the Sui network reaches $1.8B, ranking it third among non-EVM chains.
SuiLend TVL rose 90% in one month, supporting SUI’s momentum toward the $3.30 resistance level.
The SUI token is showing strong momentum as it moves closer to a critical resistance zone. Traders and analysts are closely watching the price action, volume, and on-chain growth. With technical levels being reclaimed and user activity rising, SUI could be entering a key breakout phase.
Technical Patterns and Volume Support Upside Move
SUI recently broke through the $2.90 resistance level and climbed to a high of $3.1554 before consolidating. The price action remained strong as support formed around $3.12. Trading volume increased by over 37% in 24 hours, reaching $823.8 million, which suggests rising interest among market participants.
According to an analysis prepared by Gemxbt, SUI broke out above $2.90 with increasing volume and strong momentum. The Relative Strength Index (RSI) is nearing overbought levels, while the Moving Average Convergence Divergence (MACD) shows a bullish crossover. The 20-day moving average has been holding as key support.
https://twitter.com/AltcoinGordon/status/1939544454462915002
The current price structure shows a clean move between $3.08 and $3.1554, with the range of $3.12 to $3.30 becoming a key zone. This area is now being watched for potential breakout continuation. As stated in an observation by Gordon, “SUI is on the brink of one of the most parabolic comebacks we have seen.”
On-Chain Growth Supports Price Momentum
SUI’s network has shown stable growth in recent months. The Total Value Locked (TVL) on the Sui chain is now $1.8 billion, ranking it as the third-largest non-EVM chain. The circulating supply stands at 3.39 billion SUI out of a total 10 billion.
According to recent network data, the stablecoin supply on the Sui chain rose from $400 million in January to $1.2 billion. The TVL of SuiLend, a lending protocol on the network, has grown 90% over the past month and now exceeds $600 million.
Wallet integrations, such as support from Phantom and the launch of the Slush wallet, have made it easier for users to interact with the network. With both technical indicators and on-chain metrics aligned, SUI is entering a phase that traders will continue to monitor closely.
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