Recent data shows Sui is back in the spotlight after its price surpassed $3.90 and its total value locked (TVL) reached a new record of $2.13 billion.
Price Movement of Sui
Chart analysis indicates that Sui's price has been moving within a wide upward channel since mid-2024. Over the past few months, the price tightened into a pennant pattern, forming lower highs and higher lows. The range finally broke, with the latest two-day candle closing at $3.90, an 11% gain and a clear breakout from the pennant. Analyst WorldOfCharts sees this breakout as the beginning of a potential 2x rally.
Support and Resistance Levels for Sui
Technical support now sits in the range between $3.20 and $3.40, marking the first demand zone. A secondary support area is located at $2.60–$2.80. Attention is focused on the $4.20–$4.50 range for confirmation of continued momentum with sustained closes above this level.
Current Trends and Forecasts
According to DeFiLlama data, Sui's TVL has reached a record $2.137 billion, a 334% increase year-over-year. Growing developer interest and active market trends are being observed. If Sui remains above $3.20, traders may aim for the $4.50 level and beyond.
Observers will watch whether Sui maintains new support levels and continues its upward trajectory in TVL through the third quarter.
