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- $SUI surpassed its previous all-time high, reaching $5.20, a 20% increase in 24 hours.
- The total value locked (TVL) for $SUI reached a record high of $1.96 billion.
As 2024 came to a close with some disappointment for Ethereum enthusiasts, who hoped for its price to reach new highs alongside Bitcoin’s rally, other Layer 1 blockchains are beginning to take the spotlight. Among them, Solana (SOL) and $SUI ($SUI) are gaining significant attention for their impressive performance in the crypto market.
While Bitcoin touched $98K at the start of 2025, $SUI’s native token has surged, breaking its previous all-time high of $4.98, set just weeks ago on December 16, 2024. The current all-time high stands at $5.20, marking a 20% increase in just 24 hours.
Additionally, the daily trading volume skyrocketed by 150%, reaching $2.08 billion. Along with this surge, $SUI’s daily trading volume has skyrocketed by 150%, reaching $2.08 billion. These gains have allowed $SUI to climb into the 12th spot in the crypto rankings, surpassing Toncoin (TON) and Chainlink (LINK), with a market cap of $15.22 billion.
This rally in $SUI price follows a significant spike in open interest, which climbed 40% to hit a record $1.05 billion, according to data from Coinglass. Further, the total value locked in $SUI has soared to an all-time high of $1.96 billion, as per DefiLlama data.
This surge in open interest and TVL has acted as a trigger point, fueling further bullish momentum and drawing increased investor attention. Speculation in the market is rising, with many wondering if $SUI’s price will hit the $10 mark in the coming days.
Can $SUI Maintain Its Bullish Momentum? Key Levels to Watch
Technical indicators also show strong bullish momentum for $SUI. Its price is trading well above the Ichimoku Cloud on the 4-hour $SUI/USDT chart, signaling potential for further upward movement. Further, the MACD above the signal line confirms this momentum.
Looking ahead, an RSI of 75 on the 4-hour time frame indicates that $SUI is currently in an overbought zone—signaling strong bullish momentum with buyers dominating the market. However, being in the overbought zone suggests a potential for consolidation or a slight correction soon.
- Immediate Resistance: $5.30—the first key level to watch for a potential breakout.
- Short-Term Target: $5.50—a significant resistance level that could act as a psychological barrier before further upside.
- Extended Target: $5.80—a possible area of strong bullish continuation, potentially targeting higher market sentiment.
- Support Levels (if correction occurs): $4.90—a critical support level that could help maintain upward momentum.
- Secondary support level: $4.70, which could provide a solid base for potential consolidation.
Finally, if $5.10 acts as a strong support, we could see a bounce off the support for further upside. The $4.90 and $4.70 levels could create double bottom formations if the price revisits these levels and then moves higher.