Sui Token Consolidates Near $3.30 Resistance Amid 90% TVL Surge in Lending Protocol

SUI, the native token of the Sui blockchain, is currently consolidating near the $3.30 resistance level, a critical point that could trigger liquidations and drive the price upward. The Sui blockchain has seen a significant increase in its total value locked (TVL), reaching $1.8 billion, which positions it as the third-largest non-EVM chain. This surge in TVL is indicative of growing user trust and capital inflow into the ecosystem.

The Sui blockchain has experienced notable expansion since January, with the stablecoin supply on the network growing from $400 million to nearly $1.2 billion. This increase signals a rise in user trust and capital inflow to the ecosystem. The total value locked across Sui protocols has reached $1.8 billion, reflecting increased participation in decentralized finance (DeFi) applications.

Wallet adoption on the Sui blockchain is gaining traction following key integrations. The launch of the Slush wallet, a rebrand of the SUI wallet, and support from Phantom have contributed to rising user numbers. These developments enhance accessibility and encourage broader engagement with the Sui ecosystem. In parallel, SuiLend, Sui’s lending protocol, has experienced strong growth, with its TVL surging 90% within a month to over $600 million. This surge highlights growing interest in native financial tools on the chain.

As market conditions shift, traders are closely watching the $3.30 resistance level. Previous patterns suggest that breaking above this level could initiate a fresh uptrend. The area above this price is believed to contain trapped liquidity, which may fuel accelerated movement. Although SUI has declined 6.16% over the past week, its current structure reflects strength. The ongoing consolidation above support, combined with rising fundamentals, points to growing pressure for a bullish breakout.

Analysts point to market structure and ecosystem momentum as key catalysts behind the growing interest in SUI. With multiple data points converging, including the rise in TVL and wallet adoption, SUI could see a new rally. The current price of SUI stands at $3.12, consolidating just above critical support between $2.63 and $2.85. Chart analysis shows this zone has acted as a solid base during previous corrections. A descending resistance trendline now converges with overhead liquidity near the $3.30 level. Reclaiming the $3.15 to $3.30 zone may trigger a wave of short liquidations, leading to swift upward movement with targets set above $4.00.