SUI Price Just Hit New ATH $4: What Next For Sui Now?

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Sui, the native token of the layer-1 blockchain platform, has hit an exciting new all-time high (ATH) of $4, marking a remarkable 100% surge in just 30 days. This rapid growth is fueled by significant developments within the platform’s DeFi ecosystem, which has seen its total value locked (TVL) rise to a whopping $1.61 billion.

SUI Hit New ATH $4

The Sui blockchain has been gaining momentum in the crypto world, positioning itself as a developer-friendly platform for decentralized applications (dApps). Following Bitcoin’s rise to a new ATH of $103K, Sui has also soared, hitting a fresh milestone of $4.04 just recently. 

Over the past few months, Sui has rewarded its supporters with an incredible 760% return on investment, making it one of the top-performing altcoins this year. Sui’s growth isn’t just reflected in its price. 

The platform’s TVL has surged dramatically, growing from $665 million to $1.61 billion in just nine days. This surge in TVL highlights the growing confidence in the Sui ecosystem, with users increasingly locking their assets into smart contracts for staking, lending, and liquidity provision.

What’s Next for Sui?

Sui’s technical analysis is showing mixed signals, but the long-term outlook is incredibly bullish. The Bollinger Bands Trend suggests some short-term caution as the market momentum turns negative. 

However, these negative readings could mean the token is oversold, often leading to price bounces once the selling pressure dies down. Meanwhile, Coinglass data indicates a surge in inflows to exchanges, a common sign that people are preparing to sell. 

Perhaps Sui’s price is still showing strong bullish momentum. The Exponential Moving Average (EMA) lines are in a favorable pattern, signaling that the price could soon soar higher.

With immediate targets of $4.54 and a psychological resistance at $5.00, Sui is primed to hit new all-time highs. Some experts believe the token could reach $7 soon, and others predict a jaw-dropping $17 by year’s end.