SUI rockets 18%—$5 in sight as Sui Network’s TVL spikes 8% overnight

Move over, Wall Street—crypto’s new darling just mooned. SUI’s price surge coincides with a jaw-dropping TVL pump, proving once again that decentralized finance moves faster than your average hedge fund’s quarterly report.

Bullish momentum builds as traders pile into Sui Network. The Layer 1 chain’s 8% TVL leap suggests institutional money might finally be waking up to what retail already knows.

Watch the $5 resistance level this week. If this rally’s got legs, we could see another ’number go up’ spectacle—just don’t tell the SEC.

The breakout above the $2.80 neckline of the double bottom pattern marked a major shift in trend. That move confirmed a bullish reversal and paved the way for a measured move target in the $3.50–$3.60 range — which SUI has now hit.

Looking ahead, the next immediate target is around $3.85 — the next major resistance zone based on 2.618 Fibonacci extension, a common profit taking level where the pullback is likely to occur. Then, $4.55 (a stretch target — momentum must stay strong) and $5 might come into play.

Several key catalysts are likely driving the SUI price rally, including a surge in memecoin trading on the Sui network and the recent announcement of major partnership to launch a virtual Mastercard powered by xMoney.

Additionally, Sui’s total value locked has surged 8% today, climbing to $1.64 billion. This places Sui as the 9th-largest chain by TVL, surpassing Avalanche (AVAX) and Aptos (APT).