SUI: $7 or Just Hot Air? 🧐

A Most Curious Situation

Good heavens, why all the fuss?

Apparently, SUI’s DEX Volume has had a bit of a flourish – a positively thrilling $1.4 billion, darling! – and the TVL has rather surpassed $4.3 billion. One assumes this signifies… activity. How terribly exciting. 🙄

And what, pray tell, are the important numbers?

Clearing $4.10-$5.30 might just cause a little stir, wouldn’t it? Those Fibonacci chaps suggest a target near $7. Rather ambitious, but who am I to dash their dreams?

Sui Network [SUI] took a tiny tumble – a mere 1% – landing near $3.59 at last glance. But fear not, the traders aren’t in the least bit perturbed. One suspects it’s a temporary wobble, a dramatic pause before the inevitable. One always needs a little drama, you know.

It appears this might be more than just a routine dip; it’s the calm before the storm, or perhaps just a well-timed yawn.

AMBCrypto, bless their inquisitive souls, has been poking about to see if these bullish pronouncements are actually worth the bother.

SUI Dreams of Grandeur

The daily charts hint at a breakout brewing, a rather substantial accumulation pattern since February. A peak of $5.30 earlier in the year, you understand. Not terribly momentous, but a peak nonetheless.

Ali Martinez, a name one hears whispered in the right circles (or on X, as it’s now called, heaven help us), believes $7 is within reach. Quite the pronouncement!

He notes the ascending trendline is ideal accumulation zone, what with its alignment to the 0.68 Fibonacci Retracement level. Apparently, it’s ‘healthy’. One assumes the analysts are rather fond of that word.

The $4.10 resistance, however, continues to be a bit of a spoilsport, rejecting advances on several occasions. Dreadfully stubborn, these resistance levels.

And the previous peak represents another hurdle. The charts predict hitting $7 sometime in 2026. Oh, the suspense! ⏳

This looming breakout is becoming rather… apparent, as compression increases.

Should SUI fail to overcome these obstacles, it’ll simply continue to wander aimlessly. Terribly tiresome, that.

Volume and On-Chain Shenanigans

Indeed. On-chain metrics seem to echo this optimistic chatter.

The daily DEX volume reached a rather optimistic $1.43 billion. The 24-hour perps volume isn’t slouching either, at $160 million. Numbers, numbers, everywhere!

The Total Value Locked (TVL) peaked at $2.60 billion, not far off the bridged assets at $2.66 billion. A 3.3% increase in a day! Well, that *is* something.

Including staking, the network’s aggregate TVL exceeds $4.33 billion.

Stablecoins and General Ostentation

But wait, there’s more!

SUI has inexplicably surpassed Toncoin [TON], Mantle [MNT], and Optimism [OP] in stablecoin market cap, reaching $921 million. Honestly, the competition!

A full $100 million ahead of TON. The swap volume also hit a milestone, reaching $16.25 billion. Rather extravagant, wouldn’t you say? ✨

So, on-chain and technical data suggest a certain… conviction. If SUI manages to breach the $4.10-$5.30 range, $7 remains a possibility. A perfectly plausible one, of course.

Though, one must always be cautious. Consolidation could well persist. One can’t have everything, can one? 😔

2025-10-08 08:14