cryptonewsz.com
During Thursday’s U.S. market session, the crypto market experienced a surge in buying activity as the pioneer digital asset, Bitcoin, broke the $100k barrier. Following the same momentum, the $SUI price leaps over 20% to hit a new high of $4.44. The recovery, backed by a surge in Total Value Locked (TVL) and integration into a major crypto wallet, signals the potential for a sustained breakout rally ahead.
According to Coingecko data, the global crypto market cap is at $3.8 Trillion with an intraday gain of 1.3. Meanwhile, the 24-hour trading volume is at $488.2 Billion.
Key Highlights:
- The $SUI price breakout from a $3.9 All-time high hints potential rally to a $5 psychological level.
- $SUI blockchain integration with Phantom and impressive TVL milestone signal potential for a higher rally
- The $4.3 and $4.7 stands as key resistances coinciding with 32.8% and 50% Fibonacci extension levels.
$SUI Price Soars with Phantom Wallet Integration and $1.7B TVL
Phantom, which already supports Layer 1 blockchains such as Solana, Bitcoin, and Ethereum, has now added the $SUI blockchain to its growing list of integrations. This move brings significant advantages to $SUI users, including staking, a built-in token exchange, NFT storage, multi-chain capabilities, and hardware wallet support.
These features will enhance the overall utility and accessibility of the $SUI blockchain for its growing community.
Further boosting its market credibility, the network reached a new high of $1.7 TVL (Total volume locked), according to DefiLlama. The increase indicates growing investor confidence and increased adoption of the $SUI ecosystem, reflecting strong demand for its decentralized application and staking opportunities.
Key Levels to Watch $SUI Enters Price Discovery Mode
In the last three weeks, the coin price witnessed a sideways action, struggling to sustain above $3.9 resistance. This consolidation allowed buyers to revive exhausted bullish momentum from the November rally.
The Bitcoin price breakout from $100,000 psychologically provided a sufficient catalyst for the $SUI Price to break the $3.9 resistance. A daily candle closing will flip the aforementioned level into a suitable stepping stone for the next leap.