SUI Rocket Ride: Bulls Charge Toward All-Time Highs as FOMO Kicks In
Move over, legacy tokens—SUI’s chart is printing a vertical masterpiece. The Layer 1 asset surged 28% this week as traders piled into what’s fast becoming the ’it’ chain of Q2 2025.
Why the frenzy? Developers are migrating en masse from Ethereum’s gas fee nightmare, while VCs quietly unload their ’long-term holds’ into retail demand. Classic crypto.
Key levels to watch: A clean break above $3.50 could trigger algorithmic buying sprees. But watch those order books—liquidity’s thinner than a trader’s patience during a 10% pullback.
One hedge fund PM quipped: ’We’re either early or wrong. Probably both.’ Welcome to Web3.
Performance Analysis: Can SUI Reach New Heights?
Beginning at a low of $1.73 on April 13, SUI has soared 140% to hit $4.20. The altcoin gained further traction on April 23 as it broke through the $2.80-$3.10 range, currently consolidating between $3.85-$4.15. This region coincides with resistance levels from January 2024, suggesting that continued strong buying could push it past $4.35, ultimately aiming for a new ATH of $5.30.
A look at technical indicators shows the 20 EMA providing dynamic support around $3.58, while the RSI indicator stays at 68.2, indicating the possibility of further upward movement. Additionally, the $3.10-$3.20 range is crucial as a support zone in case of potential downturns.
Promising Ecosystem Figures
The total value of assets within the SUI network increased from $1.8 billion at the start of April to $2.18 billion by mid-May. The market cap for stablecoins on the network ROSE by 39.5%, nearing $919 million. Should this figure exceed $1 billion, a price surge beyond $4.50 is anticipated.
The decentralized exchange (DEX) volume on the network set a record at $782 million on April 23 and reached a weekly $3.98 billion in May. Open interest in futures contracts also climbed to a yearly high of $1.86 billion, with daily active wallet numbers exceeding 1.5 million. Current data demonstrates growing user engagement and liquidity within the Sui ecosystem.
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