TLDR:
- New SUI wallet creation surpasses 600K, ending six weeks of stagnant growth.
- Technicals show SUI testing 50, 100, and 200-day EMAs near a Bullish Flag resistance zone.
- SUI has gained 15% in a week, now trading at $3.00 with potential breakout toward $5.
- On-chain growth and ecosystem activity may support continued price momentum.
SUI’s user base has shown a sharp reversal, with new wallet growth breaking a six-week stagnation. This structural breakout indicates shifting momentum in the ecosystem.
Alongside growing on-chain activity, technical signals suggest rising interest among investors and traders.
SUI’s price now tests a major resistance zone, where bullish patterns point to a potential rally. Together, wallet activity and technical setups show renewed energy in the SUI crypto market.
New SUI Wallet Surge Marks Change in User Behavior
Recent data shows a clear shift in new SUI wallet creation. The number of daily new accounts surpassed 600,000, ending six weeks of flat growth. According to @eyezenhour, this marks a critical “change of character,” often seen before network acceleration.
New account growth on $SUI just broke its multi-week pattern. This marks the first clear structural reversal
After 6 weeks of sideways action, we finally have a clean breakout in wallet creation
Here’s what to know
Structure: Flat accumulation base since mid-May
— eye zen hour (@eyezenhour) July 3, 2025
The breakout above the 600K level shows elevated user demand and growing interest in SUI. Analysts view wallet growth as a leading indicator of broader activity within the blockchain ecosystem.
The six-week accumulation period appears to have resolved with a sharp upside move, suggesting further expansion in user adoption.
While user growth rises, technical indicators also support the bullish trend. Crypto analyst Alex Clay noted that SUI is now testing a confluence of key resistance levels.
#SUI is testing the resistance confluence of EMA 50 + EMA 100 + EMA 200 + resistance of the Bullish Flag
— Alex Clay (@cryptclay) July 3, 2025
These include the 50-day, 100-day, and 200-day exponential moving averages (EMAs), combined with the upper boundary of a Bullish Flag. This setup often signals the continuation of an upward move.
If the price closes above the resistance zone, Clay believes a rally toward $5 remains highly probable. This aligns with recent price action, where SUI has gained over 15% in the past week and currently trades at $3.00.
SUI On-Chain Metrics and Ecosystem Catalysts to Watch
Beyond wallet creation and price movement, further signs of momentum could emerge from rising transaction volume, TVL growth, and application launches. Observers suggest monitoring whether daily wallet creation stays above 600,000. Sustained growth in these metrics could reinforce the current bullish trend.
Bridge activity, incentive programs, and protocol developments are expected to influence short-term performance. If these ecosystem catalysts align, SUI may continue attracting investor interest.
The data suggests a rising base of users could drive on-chain value in the coming weeks.
After weeks of low volatility, both price and user data show renewed energy in the SUI network. The change in wallet behavior and bullish technical patterns presents a strong case for continued growth.
If volume and user activity continue upward, SUI may break out toward higher price levels.
The post SUI Wallet Growth Breaks 6-Week Lull: Is a $5 Price Rally Next? appeared first on Blockonomi.
Source: https://blockonomi.com/sui-wallet-growth-breaks-6-week-lull-is-a-5-price-rally-next/