SUI price made a remarkable leap in the past few days, surging from the consolidated zone around $4 to mark fresh highs above $5. Its market capitalisation increased by over 17%, surpassing the major altcoins like LINK, TON, XLM, & SHIB. While this move has attracted huge bearish activity, the bulls are defending the lower support and trying to start a fresh ascending trend. Now that the technicals have turned bullish combined with growing positive market sentiments, the SUI price is believed to attract more gains in the upcoming days.
Sui has gained huge attention after the token closely followed the SOL price’s monstrous recovery from a single-digit level. In due course, it has become popular among the L1s along with Solana, Aptos, Sei, etc. The recent unlock of over 82 million SUI tokens, which is nearly 0.82% of the total supply, is assumed to have stimulated demand and contributed to the growth. On the other hand, positive funding rates and more than 50% of traders taking along positions display the growing potential of the token.
With this, the question arises: whether the SUI price will make it to $10 this month?
The SUI price is trading within a rising parallel channel and after a rise from the support to above-average bands, the price is facing some resistance. The bulls are trying hard to revamp a strong rebound but the technicals suggest a minor pullback could be fast approaching, dragging the levels slightly below $5. The bearish crossover with the stochastic RSI validates the claim. Meanwhile, the Bollinger bands suggest a bullish continuation as they have just begun to expand and may continue to do so until the price reaches the upper resistance of the channel, forming new ATH at around $5.8 to $6.
Before this move, the SUI price appears to be poised to undergo a small pullback below the average bands, below $5, that may attract significant liquidity and trigger a rebound. Apart from this, SUI has been outperforming in the DEX space, exceeding $2 billion in TVL to mark a record high and marking it as the fastest-growing blockchain. Before this, SUI had already recorded a milestone of hitting over 8 billion transactions, which doubled in Q4 2024, soon after the breakout. Therefore, the SUI price prediction for 2025 remains bullish, carrying huge potential for discovering new highs in the upcoming days.
