SUI Price Hits New All-Time High With TVL Approaching $1.8 Billion
2024-12-06

SUI Price has reached a new all-time high, fueled by strong momentum that could drive it even higher in the near term. Its Total Value Locked (TVL) also hit a record $1.72 billion.
With technical indicators like the ADX signaling a strong uptrend and a golden cross supporting the recent rally, SUI is well-positioned to test the $4.50 level, just 7.7% away. However, key support levels at $3.94 and $3.65 will be critical if the current bullish momentum begins to fade.
SUI TVL Reached A New All-Time High
SUI blockchain Total Value Locked (TVL) has reached a new all-time high of $1.72 billion. This milestone reflects strong investor confidence and increasing activity within the SUI ecosystem, highlighting its growing adoption.
Sustained high TVL levels often correlate with increased utility and demand for the underlying asset, creating potential upward pressure on its price.
TVL measures the total capital locked in a blockchain’s protocols, serving as a key indicator of ecosystem health and user engagement. With SUI’s TVL remaining above $1.4 billion since November 9, the consistent capital inflow suggests strong support for its network.
This stability, combined with the recent all-time high, could bolster SUI price momentum.
SUI Current Uptrend Is Strong
SUI ADX has surged to 30.6, up sharply from below 15 just two days ago, signaling a significant strengthening of its trend. This increase suggests that SUI price has moved from a weak or consolidating market condition into a strong uptrend.
The sharp rise reflects growing market momentum, potentially driven by increased investor activity or confidence in the asset.
The ADX (Average Directional Index) measures the strength of a trend, with values above 25 indicating a strong trend and below 25 suggesting a weak or consolidating market. SUI’s ADX at 30.6 confirms it is firmly in an uptrend, with further room for growth before the trend shows signs of fading.
In previous price surges, SUI’s ADX nearly reached 35, indicating that the current rally could continue for some time before the trend either reverses or weakens. This points to a potential near-term upside for SUI as the momentum builds.
SUI Price Prediction: Will It Reach $4.5 For The First Time?
On December 3, SUI EMA lines formed a golden cross, where a short-term moving average crossed above a long-term one, signaling the start of a bullish trend.
This technical pattern ignited the recent rally, driving SUI closer to its all-time high. If the uptrend continues, SUI could surpass this peak and aim for $4.50, a level just 7.7% away.
However, if the current uptrend weakens and a downtrend emerges, SUI price may test its first support at $3.94. Should this level fail to hold, the price could drop further to $3.65, signaling a potential shift in market sentiment.