The SUI ecosystem is showing signs of accelerating momentum, both technically and fundamentally. According to analyst Michaël van de Poppe, SUI’s metrics continue to strengthen, setting the stage for a potential breakout above $3.30.
On-Chain Growth Validates Investor Interest
Several metrics underline SUI’s rising prominence:
- Stablecoin volume on SUI surged from $400 million in January to nearly $1.2 billion today.
- Total value locked (TVL) reached $1.8 billion, placing SUI third among non-EVM chains.
- Wallet adoption is growing rapidly, helped by Phantom integration and the new Slush wallet.
- Lending protocol SuiLend now holds over $600 million TVL, a 90% increase in just one month.
- This activity paints a clear picture: users and capital are flowing into SUI with increasing velocity.
Chart Setup Hints at Key Reversal Point
On the chart, SUI has entered a critical support zone between $2.63 and $2.85. Van de Poppe notes that this area should hold if bulls are to regain control. If it does, a move back toward $3.15–$3.30 becomes likely.
A breakout above $3.30 would likely trigger a liquidation squeeze, as short positions get wiped out. Van de Poppe sees that reclaim as a launchpad for the next leg up.
Market corrections often shake out weak hands. In SUI’s case, the correction may be fueling the next rally.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/market/sui-eyes-breakout-as-on-chain-growth-signals-strength/