Key Notes
- SUI’s group sentiment on CoinMarketCap exhibits a powerful bullish outlook.
- 21Shares just lately partnered with Sui to drive international Layer-1 adoption.
- Analysts point out a bull flag sample, identified for main breakout rallies.
Sui blockchain’s native token, SUI
SUI
$3.65
24h volatility:
5.3%
Market cap:
$12.18 B
Vol. 24h:
$1.76 B
, is recording sturdy bullish sentiment on CoinMarketCap’s group sentiment indicator. At present buying and selling round $3.40, the token has risen by practically 1.7% previously 24 hours.
After a sharp rally of over 75% within the second half of April, SUI has entered a interval of consolidation, forming a textbook bull flag sample since Could-start. In accordance to analysts on X, this wholesome pause could lead on the token to one other sturdy upward transfer.
Common dealer and podcast host Scott Melker just lately remarked that SUI exhibits “vital upside potential”. The optimism is additional supported by a 16% bounce in 24-hour buying and selling quantity, reflecting renewed market curiosity.
SUI Exhibiting Sturdy Power
This bullish momentum coincides with 21Shares’ final week announcement of entering a strategic partnership with Sui to improve international entry and adoption of the Layer-1 community.
Simply weeks prior, Grayscale had launched the SUI Belief to develop the token’s institutional adoption. The protocol additionally joined palms with xPortal and xMoney to allow a digital Mastercard rollout throughout Europe.
Sui community additionally just lately secured its place among the many high 10 Layer-1 blockchains, with over $1.74 billion in whole worth locked (TVL). Notably, the previous month alone noticed TVL rise by 56%, underscoring rising belief within the ecosystem.
SUI Price Outlook
On the daily chart, SUI is buying and selling inside a bull flag sample. The sharp rally from round $2.60 to $3.80 in late April types the pole of the sample, measuring $1.20 in peak.
Consolidating in a bull flag underneath resistance.
A lot of potential right here. pic.twitter.com/AFV6SuvpCm
— The Wolf Of All Streets (@scottmelker) May 7, 2025
The present consolidation resembles a descending flag construction, with resistance close to the $3.50 stage. If SUI manages to sustainably break above this line, merchants may set the following upside goal round $4.70. Nonetheless, the sample solely stays legitimate if the token holds above the flag’s decrease boundary.
In the meantime, the RSI is presently sitting round 64, displaying that the eleventh largest cryptocurrency is nearing the overbought area. Notably, merchants ought to watch any RSI transfer above 70 for potential divergence, which frequently leads to reversals.
SUI worth chart with RSI and Bollinger bands | Supply: TradingView
Bollinger Bands recommend SUI stays in an upward bias, because it trades above the mid band (20-day easy shifting common) round $3.12. Whereas the token has retreated from the higher band, it’s nonetheless inside a wholesome uptrend channel.
A renewed push to the higher band may point out one other wave of shopping for strain. If SUI crosses the $3.50 resistance, it may check the $4.70 area.
Disclaimer: Coinspeaker is dedicated to offering unbiased and clear reporting. This text goals to ship correct and well timed data however shouldn’t be taken as monetary or funding recommendation. Since market circumstances can change quickly, we encourage you to confirm data by yourself and seek the advice of with an expert earlier than making any choices based mostly on this content material.
A crypto journalist with over 5 years of expertise within the trade, Parth has labored with main media retailers within the crypto and finance world, gathering expertise and experience within the area after surviving bear and bull markets over time. Parth can be an creator of 4 self-published books.
