- Sui (SUI) has surged past $7.7 and is approaching the $11.2 Fibonacci level, indicating continued bullish momentum.
- Analyst Ali notes record TVL of $2.6B and $20.33B DEX volume as key drivers of SUI’s network expansion.
- Bitcoinsensus notes holding above $11.2 could push SUI toward new highs, while dips may test $5–$6 support.
Sui (SUI) has entered an aggressive bullish phase, led by strong network growth and major technical breakouts. The token recently surged past the $7.7 Fibonacci extension and is now nearing the $11.2 target zone.
According to Bitcoinsensus, these levels, 1.618 ($7.7) and 2.618 ($11.2), are considered key points for price expansion following a confirmed breakout. This move places SUI in what analysts describe as a “price discovery” phase, where historical resistance is minimal and volatility tends to accelerate.
Strong Accumulation
SUI’s breakout above $7.7 has led to optimism among long-term holders and institutional participants. The price action has been supported by consistent large bullish candles, indicating sustained buying momentum.
The ongoing expansion shows accumulation patterns, suggesting the market is positioning for continued upside. However, analysts caution that steep climbs often lead to short-term corrections or consolidation phases, which could establish new support levels near $7.7 before any further rally.
According to Bitcoinsensus, the 2.618 Fibonacci extension at $11.2 is the next key test. A confirmed breakout and hold above this level could lead toward higher Fibonacci zones and potential record highs.
On the other hand, a failure to maintain strength above $7.7 may prompt profit taking, possibly retracing prices toward the $5–$6 area. This balance between breakout continuation and short term cooling off shows the ongoing tug-of-war between bullish enthusiasm and natural market resets.
Network Growth
Analyst Ali supported the optimistic outlook, outlining four major on-chain factors supporting SUI’s upward moves. He noted that the total value locked (TVL) recently hit a record $2.6 billion, showing resilience across the ecosystem. In addition, decentralized exchange (DEX) volume on SUI climbed to $20.33 billion this month, driven by genuine trading activity rather than incentive-based liquidity.
Ali further noted that the stablecoin market cap within the SUI network has grown steadily to $1.15 billion, indicating rising demand and capital retention. He added that the current price structure is forming a symmetrical triangle pattern, and a breakout above $3.60 could lead to a new bullish wave.
Market Eyes Price Discovery Phase
The combination of technical expansion and network growth suggests that SUI’s bullish structure is intact. The price movement above major Fibonacci extensions aligns with on-chain strength, indicating confidence among market participants.
With rising trading volumes and key resistance levels approaching, the token continues to attract strong attention from traders assessing whether the momentum can carry beyond the $11.2 level identified by Bitcoinsensus.
