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- Technical analysts project a potential SUI price rally toward $7.80, following a confirmed breakout from a symmetrical triangle pattern.
- SUI’s total value locked (TVL) hit a record $2.295 billion in July, with strong institutional buying.
SUI, the native cryptocurrency of the Sui blockchain network, is up 5% today, defying the broader crypto market downtrend. After facing recent selling pressure, the altcoin has bounced back from the support of $3.70, with daily trading volumes surging past $1.6 billion. With the SUI price bouncing back from crucial support, analysts are hopeful for a sustained rally moving ahead.
SUI Price Bounces From Crucial Support, Eyes $7.80
According to an analysis by Sui Intern, SUI has broken out of a symmetrical triangle pattern on the daily chart following several months of consolidation. The breakout occurred near the $3.80 level, accompanied by rising trading volume and a confirmed momentum shift. Based on the triangle’s measured move, the pattern suggests a potential 108.21% rally, pointing to a possible new all-time high near $7.80.
Another popular crypto analyst, Lark Davis, has set a similar target, sharing his bullish sentiment about SUI. Crypto analyst Lark Davis echoed bullish sentiment on SUI, highlighting a breakout above its long-term downtrend line. Davis noted that if SUI maintains support above the $3.80 level, Fibonacci retracement levels suggest additional upside potential.
Strong footing in DeFi Landscape
SUI’s total value locked (TVL) reached an all-time high of $2.295 billion at the end of July, according to DeFiLlama. This milestone reflects accelerating DeFi adoption on the network, with a 40% increase since early 2025 and a nearly 400% year-on-year surge.
Institutional interest is also rising. Mill City Ventures raised $450 million, allocating 98% of the funds to SUI acquisitions. The firm plans to hold SUI as a core treasury asset and is preparing to facilitate institutional exposure to the token through a Nasdaq listing. Earlier in July the Lion Group holdings announced a $600 million SUI treasury, as reported by CNF.
SUI ETF Chances Grow Amid Recent SEC Move
Crypto analyst Crypto Patel noted that the combination of ETF applications, rising network adoption, and recent price action is setting up SUI for strong performance this cycle. Sustained volume growth and support above the $3.70 level could help maintain the current bullish trend.
The Chicago Board Options Exchange (CBOE) has submitted a rule change proposal to the U.S. Securities and Exchange Commission (SEC) that would permit the generic listing and trading of cryptocurrency ETFs. If approved, the change would eliminate the standard 180-day review process, allowing issuers to launch crypto ETFs without undergoing extended regulatory delays.
Altcoins like SUI and others could benefit from this development. Players like Canary Capital and 21Shares are already in the race to file for SUI ETF.
