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SUI’s 73% Weekly Price Gains Top Crypto Market — New Price Record in Reach?
In a market where most cryptocurrencies struggle to maintain momentum, SUI has emerged as the standout performer, posting a staggering 73% weekly gain. With its price surging to $3.67 on April 25, investors are now asking: Is SUI on the verge of setting a new all-time high?
Key Takeaways
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SUI is up 23% in the past 24 hours and 73% weekly, outperforming top-cap cryptocurrencies.
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The launch of the Grayscale SUI Trust and the xPortal/xMoney Mastercard partnership boosted investor confidence.
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SUI’s TVL is up 40%, and daily DEX volumes surged by 177%, signaling strong ecosystem trust and utility.
SUI Price Surge: A Closer Look
Data from Cointelegraph Markets Pro and TradingView shows that SUI rose from a low of $2.11 on April 21 to an intraday high of $3.71 on April 25—a 77% increase in just four days.
This performance makes SUI the biggest gainer among the top 100 cryptocurrencies by market cap.
What’s Driving SUI’s Rally?
1. Institutional Interest: Grayscale SUI Trust Launch
On April 23, Grayscale launched the Grayscale SUI Trust, enabling accredited investors to gain exposure to SUI. This move signals growing institutional confidence in the asset.
2. Real-World Utility: xPortal/xMoney Partnership
SUI’s partnership with xPortal and xMoney introduced a virtual Mastercard, allowing 2.5 million European users to spend SUI at over 20,000 merchants via Apple Pay and Google Pay.
3. DeFi Growth: Surging TVL and DEX Volumes
Sui’s Total Value Locked (TVL) has increased by 40% in the past week, reaching $1.65 billion. Meanwhile, daily DEX volumes surged by 177%, outpacing competitors like BNB Chain and Solana.
Technical Analysis: Is a New ATH Possible?
From a technical standpoint, SUI broke out of a falling wedge pattern, reaching its initial target at $3.30. The next key resistance lies between $4.50 and $5.10, with the all-time high at $5.35 (set on Jan. 6) within reach.
The Relative Strength Index (RSI) has climbed from 45 to 78, indicating strong bullish momentum. However, traders should watch for potential overbought conditions.
Long-Term Price Targets
Pseudonymous analyst Bitcoinsensus applied Elliott Wave theory to SUI’s weekly chart, projecting a “massive” target of $11.50.
Conclusion: What’s Next for SUI?
SUI’s recent performance reflects a combination of institutional adoption, real-world utility, and strong DeFi growth. While the $5.35 ATH is the immediate focus, sustained momentum could propel SUI into price discovery mode.
Key levels to watch:
- Support: $3.30 (previous breakout level)
- Resistance: $4.50–$5.10 (next hurdle before ATH)
As always, traders should conduct their own research and manage risk appropriately.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
