Bulls could target the SUI all-time high of $5.35 reached in January 2025.
Sui (SUI) has broken above $4.20 amid a notable 56% surge over the past month.
This rally brings SUI tantalizingly close to its all-time high of $5.35, recorded in January 2025.
It also means an impressive rally from April lows of $1.90, putting the token alongside top performers PancakeSwap, BNB and Optimism.
While Sui isn’t the standout performer in the past day or week, the token has gained over 56% in the past month.
This has allowed it to break above $4.20 and see bulls come within reach of all-time highs witnessed in January 2025.
Sui is also significantly up since lows of $1.9 in April 2025, with the cryptocurrency showing remarkable recovery since plummeting amid the Cetus protocol hack.
Bulls’ dominance as top altcoins rally means Sui has experienced a notable spike in its total value locked (TVL).
According to DeFiLlama, the project’s TVL has surpassed $3 billion, including staking, borrowings and vesting tokens.
Key protocols like Suilend, NAVI and Bluefin have witnessed a spike in their respective TVLs to boost Sui’s.
As well as DeFi activity, Sui is recording notable upside in the futures market.
Per data by Coinglass, open interest in SUI has surged 10% to $2.7 billion, with strong speculative interest showing in the $7.4 billion in derivatives volume.
Long positions dominate, suggesting overall bullish sentiment. As TVL rises and open interest grows, Sui’s market outlook becomes increasingly bullish.
If market conditions support an upward flip, it could be a new ATH for Sui within the short term.
Looking at the technical picture, SUI’s price trajectory appears upbeat.
Technical indicators, such as the Relative Strength Index (RSI), support the bullish outlook.
RSI currently sits at 65, having retreated from overbought territory, which means there’s room for further gains without SUI flipping immediately overheating.
Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bullish crossover.
The MACD line is above the signal line to suggest bulls have an upper hand.
Despite an upcoming cliff unlock, analysts predict SUI price could soon retest its all-time high of $5.35.
Price discovery could push the token’s value even higher. However, the token unlock and short-term profit taking may derail bulls.
SUI currently trades around $4.21, about 6% up in the past week.
