Sui extends gains as private transaction features piloted on testnet

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Sui jumps 6.86% today to $0.8119

Highlights

Sui's removal of protocol fees drove stablecoin transaction volume to $65 billion, reducing costs and boosting network activity.
Private transaction pilot programs and inclusion in T. Rowe Price's multi-asset crypto ETF position Sui for greater institutional and future adoption.
SUI/USD shows strong short-term bullish momentum with technicals supporting a move to $0.8319, while immediate support holds downside risk low.

Transaction spike as protocol fee cut and institutional entry boost demand

Sui's recent elimination of protocol fees has led to a substantial surge in stablecoin transaction volume, reaching $65 billion and making network use more cost-effective. This operational change increases transactional activity and liquidity on the blockchain, translating directly into heightened demand for Sui's ecosystem. Complementing this, ongoing pilot tests for private transaction features are positioning Sui for future adoption momentum, while its inclusion in T. Rowe Price's new multi-asset crypto ETF offers an avenue for increased institutional exposure.

Technical gains face caution as oscillators diverge on momentum

SUI/USD is trading above the MA-20 at $0.7810 and the MA-50 at $0.7712 on the hourly chart, while remaining below the longer-term MA-200 at $1.1507. The Ichimoku Kijun serves as immediate support at $0.7748. MACD shows a Strong Buy reading and the ADX gives a Buy signal, with RSI in Buy territory at 60.16. Stochastic RSI signals Oversold, CCI reads Neutral, Bull/Bear Power (BBP) reflects buyer dominance, and the Awesome Oscillator remains Neutral. Price is hovering near the day's high on moderate volatility. Divergence between upward momentum and Stoch RSI's Oversold condition suggests some caution may be warranted.

Consolidation range likely as high upside risk tempers selling scenario

Over the next two to three trading days, SUI/USD is expected to consolidate within the $0.7833 to $0.8319 band as typical volatility. The probability of further upside movement remains very high, while a downward break through support at $0.7748 would introduce renewed selling pressure. A bullish scenario would see the price breaking out above resistance for further gains, while a bearish scenario could occur only if immediate support is breached decisively.

Anton Kharitonov, expert at Traders Union, notes recent technical and fundamental positives for Sui but remains cautious on further upside. He sees protocol fee removal and ETF inclusion as strengthening the network and investor sentiment, yet emphasizes that resistance remains unbroken. The indicators show momentum but also hint at potential consolidation or reversal. "Unless SUI/USD can decisively clear $0.8319, I remain defensive and will only consider further upside if immediate support levels continue to hold."

Earlier, analysts noted that Sui was facing persistent bearish momentum with sellers maintaining control amid continued downside risk. The recent shift in technicals and strong ecosystem developments signal a potential turning point, making the integrity of the $0.7748 support level a crucial indicator for the next directional move.

Source of Data: SUI Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.