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SUI Price Confirms $5 Target as TVL Hits All-Time Highs Above $2.2B

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Sui SUI $3.85 24h volatility: 9.6% Market cap: $13.29 B Vol. 24h: $1.00 B price gained another 9% on Monday, July 14, nearing the $3.9 mark as Bitcoin’s rally to all-time highs lifted altcoins. With fundamental on-chain flows and speculative trading metrics leaning overwhelmingly positive, could SUI advance to new peaks above $5?

SUI Price Nears $4 Milestone as BTC Rally Sparks DeFi Demand

Sui’s impressive seven-day run continued on Monday as it grazed the $4 mark on Monday, while leapfrogging Chainlink LINK $15.87 24h volatility: 0.2% Market cap: $10.75 B Vol. 24h: $707.37 M and Cardano ADA $0.74 24h volatility: 1.0% Market cap: $26.65 B Vol. 24h: $1.60 B to become the thirteenth largest cryptocurrency by market capitalization. While Bitcoin’s BTC $120 047 24h volatility: 0.9% Market cap: $2.39 T Vol. 24h: $67.78 B record-breaking rally to all-time high of $123,500 dominated newsreels, SUI has benefited from the resulting explosion in demand for DeFi services.

DefiLlama’s Total Value Locked (TVL) data which sums up all financial assets deposited on a blockchain network further affirms this stance. On July 14 SUI TVL stood at $1.6 billion. Since the current leg of the Bitcoin price rally began, SUI attracted another $600 million in deposits within the last ten days, as its TVL crossed the $2.2 billion mark for the first time since its launch in May 2023.

SUI Total Value Locked | Source: DeFillama

SUI Total Value Locked | Source: DeFillama

Typically, such an increase in TVL during a rally signifies SUI’s 35% price gains in the past week is firmly supported by fundamental demand for its core DeFi services. This may explain why SUI rose by another 9%, on Monday, while the majority of the top 10 ranked cryptocurrencies, like Solana SOL $164.1 24h volatility: 0.6% Market cap: $88.00 B Vol. 24h: $14.43 B , Ethereum ETH $3 008 24h volatility: 0.3% Market cap: $363.10 B Vol. 24h: $40.12 B all saw their respective intra-day gains subdued below the 3% mark.

SUI Price Prediction: Bulls Push Toward $4.30 as RSI Signals Overheating

SUI surged 10.44% on Sunday to $3.85, reclaiming the $3.45 resistance and marking its strongest daily close since mid-May. The SUI price rally coincides with a clean breakout above the upper Donchian Channel boundary ($4.03), where bulls faced a major supply cluster formed during last month’s peak.

The Relative Strength Index (RSI) now reads 71.24, firmly in overbought territory, indicating strong momentum but also a potential for short-term profit-taking.

As long as SUI holds above the lower boundary of the daily candle at $3.50, the next upside target lies at $4.29, a level last seen in late April. The daily candle’s strong body and rising volume validate the continuation bias. However, if bulls lose steam, initial support is expected near $3.30, where the Donchian midline aligns with past consolidation zones.

A daily close above $4.03 could accelerate the move towards $5 in the coming sessions.

Best Wallet Presale Gains Momentum as SUI Rally Sparks Infrastructure Demand

With SUI breaking above $3.45 and targeting $4.30, demand for supporting infrastructure tokens like Best Wallet ($BEST) is growing. The non-custodial wallet project that has raised over $13.8 million in its ongoing presale, giving users access to transaction fees, governance rights, and higher staking rewards. As momentum builds across the multichain ecosystem, $BEST is positioning itself as the go-to token for active Web3 participants.

Currently priced at $0.025 and a scheduled price increase looming, the Best Wallet token presale offers a timely opportunity for traders rotating profits from SUI’s rally.

The post SUI Price Confirms $5 Target as TVL Hits All-Time Highs Above $2.2B appeared first on Coinspeaker.

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