SUI attracted attention again as technical indicators and network data strengthened simultaneously. While the market volatility, which has been low in recent days, is maintained, the compression in the price structure and the increase in on-chain mobility indicate a possible direction change in the asset. Analysts evaluate that the upward movement may gain momentum if the buying interest continues.
The possibility of a breakout came to the fore in the technical outlook
SUI was trading at $0.7472 at the time of writing. The asset’s 24-hour trading volume is $148.44 million and its market value is $3.02 billion. The 1.1% increase recorded in the last 24 hours kept the recovery expectations alive in the short-term outlook of the price.
Cryptocurrency analyst Michael van de Poppe points out that market-wide volatility remains unusually low. According to many analysts, such periods can be seen before sharp directional movements. It is stated that the long horizontal course in SUI may be nearing its end, and a more optimistic perception has emerged with the narrowing of the price movement.
The technical squeeze seen in SUI with low volatility is considered among the classic structures before a strong directional move.
Technical indicators suggest that the price is poised to break above the daily moving averages. Additionally, the outlook known as bullish divergence may indicate that buying pressure is gaining strength while the price remains horizontal.
If the resistance zone is overcome with strong transactions, the $ 1.07 level may come to the fore for SUI. However, for this scenario to gain strength, buyers must maintain the current momentum and the breakout must be supported by volume.
The increase in network activity supported the price outlook
According to MSB Intel data, the number of active addresses on the Sui network has increased by 92% in the last seven days. This jump shows that more users on the network are accessing decentralized applications, performing transactions and interacting with the ecosystem. Sui is known as a layer 1 network focused on applications running on its blockchain.
Mini dictionary: Active address refers to wallet addresses that transacted or interacted on the network during a specific time period. This data can provide short-term signals about user engagement and network demand.
The increase in the number of active wallets is among the factors that show that the interest in SUI is not limited to price movement only. The steady expansion of usage on the network is a positive sign that demand may be more persistent, according to many market observers.
The 92% increase in active addresses revealed that the acceleration in network usage has accelerated significantly in a short time.
Market support was also reflected in altcoins
The expectation of recovery in SUI is also supported by the general momentum in the cryptocurrency market. The upward trend in Bitcoin stands out as one of the main factors that increases risk appetite on the altcoin front. This view moved both the technical chart and on-chain data among the more closely watched headlines on SUI.
Analysts think that the upward movement may attract more buyers if the critical resistance level is exceeded, accompanied by strong purchases. The positive outlook can be maintained if the increase in active addresses, large investor accumulation and in-network activity continues.
