SUI (SUI) Price: 60% Weekly Surge Coincides With 38% TVL Growth to $1.645 Billion

TLDR

• SUI breaks through key resistance at $2.45, confirming a bullish trend reversal
• Total Value Locked (TVL) increased 38% to $1.645 billion in the past week
• Daily trading volume on DEXs surged 177% to $599 million
• Open interest in SUI contracts grew by 21.74%, reaching $488.6 million in 24 hours
• Analysts project potential targets of $3.8-$4 in May, with long-term forecasts up to $10

SUI’s price has broken through a critical resistance level at $2.45, marking a major shift toward bullish momentum. The cryptocurrency has seen a price surge of 60% in the past week, driven by several positive factors within the ecosystem.

The breakthrough above $2.45 signals that selling pressure has subsided, and buyers have taken control of the market. This price action completed an inverse head-and-shoulders pattern, typically seen as a strong indicator of a bullish reversal.

Market momentum has shifted upward after the price broke above the pattern’s neckline, indicating a move away from the previous downtrend.

The current price stands at $2.88, with analysts projecting targets between $3.8 and $4 in the near future. This represents a potential 30-40% increase from current levels.

Sui Price on CoinGecko

Growing Ecosystem Metrics

The SUI price surge coincides with impressive growth in key ecosystem metrics. Total Value Locked (TVL) in the Sui network has increased by 38% in the past week, reaching $1.645 billion.

This substantial increase in TVL indicates growing trust and usage of the platform.

Even more impressive is the surge in trading activity. Volume on Decentralized Exchanges (DEXs) within the Sui ecosystem has jumped by 177% over the last week, reaching $599 million in daily trading volume.

The rapid growth of stablecoins on the Sui network over the past two months has also contributed to the overall ecosystem’s stability and attractiveness to investors.

Trading pairs with major cryptocurrencies have seen significant volume increases. The SUI/BTC trading pair has experienced a 55% increase in volume over the past week, reaching 1,200 BTC traded.

Similarly, the SUI/ETH pair has seen a 48% volume increase, with 3,500 ETH traded, according to data from CoinGecko.

Technical Indicators Support Uptrend

Technical indicators further support the bullish outlook for SUI. The price surge comes with increasing volume, which validates the breakout and suggests strong buying interest.

The Relative Strength Index (RSI) stood at 72 on April 25, 2025, indicating overbought conditions but also strong buying pressure. While this RSI reading is in overbought territory, it also shows the strength of the current trend.

The Moving Average Convergence Divergence (MACD) showed a bullish crossover on April 22, 2025, with the MACD line crossing above the signal line, suggesting continued upward momentum.

On-chain metrics reveal a 25% increase in active addresses over the past week, reaching 150,000 active addresses. This increase correlates with the surge in TVL and DEX volume, reinforcing positive sentiment.

The average transaction value on the Sui network has also increased by 30% over the past week, reaching $1,200 per transaction, indicating higher value transactions and increased network utility.

Growing Market Confidence

Increasing open interest in SUI contracts demonstrates growing market confidence. According to recent data, SUI open interest grew by 21.74%, with new positions opening as market participation increased.

Open interest has reached $488.6 million in 24 hours, showing strong trader engagement with the asset.

$SUI just had a massive daily breakout 🚀

I told you last month that the $SUI breakout is just a matter of time.

Now, it has broken above its crucial resistance level and is heading higher.

If the market momentum remains positive, SUI could hit $3.8-$4 in May. pic.twitter.com/4O7RArT7tj

— Ted (@TedPillows) April 23, 2025

Market participation continues to rise steadily as open interest levels increase, demonstrating growing interest in the SUI market.

The cryptocurrency is primarily traded through perpetual contracts, indicating that investors expect prices to continue rising. Exchanges like dYdX and Bybit demonstrate SUI’s liquidity and accessibility, as they hold a large share of the market’s open interest.

The Fear and Greed Index currently reads 72 (Greed), reflecting the overall bullish sentiment in the market. SUI has recorded 14 green days (47%) over the past month, with volatility at 7.81%.

Long-Term Price Targets

Some forecasts project that SUI could surge to $9.84 by May 22, 2025, representing a 229% increase from current levels.

Market analyst SolbergInvest believes SUI could reach $10 within the next year, citing consistent upward momentum and growing investor confidence.

Further bolstering sentiment, 21Shares has registered a new SUI-focused exchange-traded fund (ETF) in Delaware.

This follows Canary Capital’s filing to establish a trust entity for its proposed Canary SUI ETF, potentially setting the stage for regulatory approval by the U.S. Securities and Exchange Commission (SEC).

The potential introduction of ETFs focused on SUI could bring institutional investment and further boost the cryptocurrency’s price.

With strong technical indicators, growing ecosystem metrics, and increasing institutional interest, SUI appears well-positioned to continue its upward trajectory in both the short and long term.