- Analyst Crypto Patel highlights a bullish symmetrical triangle forming on SUI’s chart, forecasting a potential rally toward $6–$10.
- Despite a $223M hack of the Cetus protocol, the Sui ecosystem rebounded strongly with a $10M security investment.
Amid the broader crypto market rally, SUI, the native crypto of the Sui blockchain network, has surged by 17% in the last 24 hours and is currently trading at $3.98, with its daily trading volume soaring by 163% to more than $2.38 billion. This shows that the bullish sentiment among traders is pretty high as SUI climbs to the 13th-largest crypto spot.
SUI Price Eyes Rally to $10 Amid Strong Momentum
Crypto market analyst Crypto Patel explained how SUI is proving as an outperformer in the recent crypto market rally, backed by strong fundamentals and technicals. With 36% upside over the past week, the SUI price is on the way to break past the crucial resistance of $4.0.
In a recent post, Patel pointed to a clean symmetrical triangle forming on the SUI chart, a setup that typically precedes a breakout. According to Patel, a decisive move above the $4.50 level could lead to a brief retest around $3.50 before targeting a rally to $6 and potentially $10 if momentum sustains.
Furthermore, SUI is also gaining institutional recognition as it is backed by notable institutions such as VanEck and Lion Group, adding to investor confidence in its long-term viability, as reported by CNF last week. Nasdaq-listed Lion Group Holdings announced plans to add this cryptocurrency to its $600 million digital asset treasury portfolio.
Furthermore, the Coinglass data shows that the SUI futures open interest is up by 22% to $1.77 billion. This highlights a strong bullish sentiment among traders with the expectation that the price rally will continue moving forward. Furthermore, the 24-hour SUI liquidations have crossed to $10.8 million, of which, $8.85 million is in short liquidations.
Strong Recovery From the $223 Million Cetus Protocol Hack
The SUI ecosystem has staged a strong recovery from the $223 million hack of the Cetus protocol. The team behind Sui blockchain restored faith in the broader crypto community by announcing a $10 million investment dedicated to enhancing the security infrastructure across its ecosystem.
In addition to this, Sui (SUI) has surpassed $1.8 billion in DeFi total value locked (TVL), cementing its position among the top blockchain ecosystems. The surge has been fueled by growing institutional adoption and strong performance from protocols such as NAVI, Cetus, and SUI Lend. Since May 2023, Sui’s DeFi TVL has jumped by 480%, outpacing the growth rates of other major networks, including Solana and Ethereum.
With Bitcoin leading the broader crypto market rally, altcoins are showing major strength, with SUI, XLM, HBAR among the top performers over the past week.
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