SUI's Bullish Setup Sparks Growth Hopes Amid Solana-Like Momentum

SUI bulls are positioning for a potential rally following the formation of a strong support zone above the $3.35 price level. Recent price action indicates that the SUI token has found a crucial floor as of May 2024, with bears pulling the price down from the 20-day exponential moving average of $3.43 on Thursday, only for bulls to counteract the downward momentum and hold the price above $3.26 [2]. Analysts and market observers are closely watching whether SUI can retest and break above the 20-day EMA to signal a possible continuation of the bullish trend.

The Sui blockchain, which launched in 2023, has been gaining traction due to its innovative architecture and real-world use cases. Developed by former Meta engineers, Sui leverages the Move programming language and an object-centric design to enable parallel transaction processing, resulting in high throughput and fast finality [1]. The chain’s performance has been tested in real-world scenarios, with over 65 million transactions recorded in a single day and more than nine million accounts created without significant gas spikes. These features, combined with user-friendly tools like zkLogin and gas fee subsidies, suggest a growing and scalable platform [1].

The ecosystem around Sui is expanding rapidly, with over ten million accounts registered by May 2024 and more than $2 billion in total value locked in DeFi protocols [1]. Diverse applications, including tokenized gold (XAUm) and the OVERTAKE gaming marketplace, are being built on the network, highlighting its potential beyond traditional finance. Additionally, Sui’s native on-chain order book, DeepBook, is facilitating increased transaction volumes and broader adoption [1].

Institutional interest in Sui is also on the rise, with Sygnum Bank integrating SUI into its platform in August 2025 to offer custody, trading, and lending services [1]. This move, along with the rebranding of Mill City Ventures to SUI Group Holdings and its commitment to holding SUI as part of its treasury strategy, signals growing confidence among regulated financial institutions. Such developments could contribute to broader market acceptance and increase demand for the token.

Looking ahead, several factors could influence SUI’s price trajectory toward the $16 target discussed by analysts. The development and integration of bridges connecting Sui with Ethereum and other major blockchains could enhance liquidity and cross-chain activity. Additionally, the continued expansion of DeFi primitives, such as tokenized real-world assets, is expected to play a significant role in driving adoption and use. The impact of token unlocks and staking programs will also be critical in managing supply dynamics and maintaining price stability [1]. Finally, the broader market environment, which affects all high-beta Layer-1 tokens, remains a key variable in SUI’s potential growth.

While the $16 price target is ambitious and not guaranteed, it is grounded in Sui’s technological capabilities, adoption rates, and institutional backing. Analysts suggest that if the network continues to attract developers and users, and if the broader market trends remain favorable, SUI could see substantial growth in the coming months. The formation of a strong support zone above $3.35 and the continued development of the Sui ecosystem reinforce the potential for a bullish price scenario in the near term [1].

Source: [1] Why Our $16 Sui Price Prediction Echoes Solana’s Early Growth (https://captainaltcoin.com/why-our-16-sui-price-prediction-echoes-solanas-early-growth/) [2] BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK, HYPE, SUI (https://cointelegraph.com/news/price-predictions-9-5-btc-eth-xrp-bnb-sol-doge-ada-link-hype-sui) [3] Solana and Sui Set for 20% Growth, But Layer Brett Aims for 3,000% Gains (https://www.mexc.com/en-GB/news/solana-and-sui-set-for-20-growth-but-layer-brett-aims-for-3000-gains/88149)