The SUI token is up nearly 20%. The main growth driver has been rising expectations around spot ETF applications for the Sui blockchain filed by Bitwise and 21Shares. On-chain metrics also look constructive: total value locked (TVL) has surpassed the critical $2.2 billion level, while daily trading volume has surged by more than 100% to reach $2 billion. Can SUI extend this impressive rally? The answer lies in the chart structure.

Sui price structure

Over the past 24 hours, Sui (SUI) has strengthened sharply, trading in a range between $1.83 and $2.02 and currently holding near $2.00. For comparison, the token was trading around $1.71 a day earlier. Sui’s market capitalization has now risen to approximately $7.5 billion.

Over the past 24 hours, the Sui (SUI) price has strengthened significantly, moving between $1.83 and $2.02

The trend remains firmly bullish. The price continues to form higher highs, while pullbacks have so far been limited. Key support zones are located around $1.84, with a deeper support area near $1.78. On the upside, resistance is currently forming around $2.02. As long as SUI holds above recent local lows, the short-term trend remains positive.

Sui momentum assessment

Momentum is currently extremely strong. The sharp advance over a short period highlights aggressive buying interest, but it also increases the risk of short-term overbought conditions. In such phases, the market often shifts into consolidation or experiences modest pullbacks, even if the broader trend remains upward.

Volatility and risks

The price surge has been accompanied by a noticeable increase in volatility. Market moves have become faster and more pronounced, boosting potential returns but also raising the risk of sudden pullbacks as traders lock in profits.

Short-term Sui outlook and conclusions

SUI scenarios

Neutral scenario

  • Target range (USD): $1.8368 – $1.9958

  • Probability: 30%

  • Invalidation level: $1.781

  • Key levels:

    EMA-20 at $1.7809, support at $1.8368, resistance at $2.0244

  • Trigger:

    RSI drops below 85, price consolidates between $1.8368 and $2.0244, EMA-20 flattens, volumes normalize

Bullish scenario

  • Target range (USD): $2.0244 – $2.40

  • Probability: 50%

  • Invalidation level: $1.837

  • Key levels:

    Breakout above $2.0244, upper Bollinger Band near $1.9991, short-term target $2.0244–$2.4000

  • Trigger:

    Sustained close above $2.0244 on rising volume, RSI remains above 70, EMA-20 starts to turn higher

Bearish scenario

  • Target range (USD): $1.40 – $1.20

  • Probability: 20%

  • Invalidation level: $2.024

  • Key levels:

    EMA-20 at $1.7809, nearby support at $1.8368, next major target around $1.4000

  • Trigger:

    Break below $1.8368 on rising selling volume, EMA-20 ($1.7809) is decisively breached to the downside

In the short term, the outlook for SUI remains constructive, with the uptrend still intact. However, the rapid pace of the rally should be taken into account: pullbacks toward $1.84 or $1.78 would be entirely reasonable. A clear and sustained breakout above $2.02, on the other hand, could allow the upward move to extend further.