Sui Price Prediction: SUI Eyes Breakout Above $3.30

The Sui (SUI) ecosystem continues to show impressive fundamental strength, even as its native token has seen a notable price correction. A deep dive into the data reveals a significant disconnect between the network’s booming on-chain activity and its recent price action, a dynamic that some analysts see as a potential long-term opportunity.

Renowned market analyst Michaël van de Poppe recently highlighted Sui as one of the most promising non-EVM blockchain projects, citing its rapid growth and signs of technical resilience.

Sui’s On-Chain Growth Accelerates as Key Metrics Soar

Sui has shown remarkable expansion across multiple on-chain metrics. Stablecoin holdings on the network have tripled since January, surging from $400 million to nearly $1.2 billion.

This tripling in supply reflects growing user trust and liquidity flowing into the ecosystem. Moreover, total value locked (TVL) now stands at $1.8 billion, placing Sui third among non-EVM chains a significant achievement in a competitive landscape.

Wallet adoption is also gaining momentum. The Sui ecosystem has seen notable integration with Phantom, a popular multi-chain wallet. Additionally, the native SUI wallet has undergone a rebrand to Slush, bringing a more user-friendly identity and interface to the platform.

Lending activity is booming too. SuiLend, the protocol’s native lending platform, now secures over $600 million in TVL. This marks a 90% increase in just one month.

Market Correction Presents a Potential Opportunity

The market’s recent dip has pulled SUI’s price to $2.94, down 13.71% over the past week. However, this decline may offer opportunity. According to van de Poppe, Sui is mirroring a previous pattern where a breakout above $3.30 could trigger a major rally. Liquidity above this level may act as fuel for bullish momentum, should buyers step in at key supports near $2.50.

SUI/USD daily price chart, Source: TradingView

Technical indicators support a cautious but watchful stance. The MACD shows bearish momentum with a negative histogram reading of 0.0308. The RSI sits at 38.39, approaching oversold territory but not quite there yet. Historically, such levels have preceded rebounds.

Watching the Next Move

Source: Coinglass

The SUI Spot Netflow chart indicates strong outflows since April, pointing to potential profit-taking or cautious sentiment. On June 17, net outflows totaled over $770,000. While this adds short-term pressure, such trends often reverse if technical support holds and fundamentals stay strong.