SUI Surges 5% on Bitcoin Integration as Trading Volume Hits $615M, But Technical Signals Remain Mixed
Following its announcement of Bitcoin compatibility via Sui Bridge, Sui (SUI) has seen amazing trading activity and price movement, therefore representing a major milestone for the Layer-1 blockchain network.
Ahead of established networks like Avalanche and Polygon, the network ranks sixth in blockchain size based on daily trade volume of $615 million.
Bitcoin Integration Sparks Sui Rally
The revelation by the Sui Foundation that Sui Bridge would now assist bundled Bitcoin transfers from Ethereum has sparked a notable market reaction. Exceeding $600 million, the integration has helped drive the total value locked (TVL) on the Sui network back to pre-market crash levels. Together with more general market recovery, this trend has helped to explain a 15% rise in SUI token prices.
Market Resilience
SUI has demonstrated remarkable resilience in the face of recent market challenges, including:
- A significant token unlock of 64.19 million SUI on February 1
- A $2 billion market crash triggered by Trump tariffs
- Technical resistance levels and broader market volatility
SUI/USD Technical Analysis
SUI’s technical indicators show a conflicting picture even with recent increases. Though trading volume has dropped by 53%, the token is now trading around $3.61 and shows a 5.4% growth in the last 24 hours. Technical analysis reveals:
- Formation of a bullish cup and handle pattern suggesting potential upside
- Strong resistance at $4.20, coinciding with the 200 EMA on the four-hour timeframe
- Critical support at $3.35, with risk of decline toward $2.97 if breached
- Ichimoku Cloud indicators showing bearish setup, with price trading below the cloud
Market Sentiment and Institutional Interest
With exchanges showing outflows of over $45 million worth of SUI tokens in the previous 48 hours, on-chain evidence points growing institutional interest. With Binance’s SUIUSDT Long/Short ratio of 1.80, which shows that 64% of top traders have long positions, trader mood is optimistic.
Sui Price Prediction
Some experts, including Jason Pizzino, warn of possible downside risks to $1.60 or less should support near $2 fail to hold; others highlight strong fundamentals and rising acceptance as engines of possible upside. SUI’s immediate difficulty is surpassing the $4.20 resistance level; if successful, potential targets are $5.
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