SUI rose 7.33% to $2.08 over the past 24 hours, breaking through a key resistance level while most of the crypto market traded flat or slipped.
The move put the token nearly 7% ahead of the CoinDesk 5 benchmark index, marking a strong divergence that points to token-specific demand.
Despite the price jump, SUI’s trading volume came in below its 7-day average – an unusual pairing that suggests purposeful accumulation, likely by institutional buyers or whales. During the breakout, volume briefly spiked to 44 million tokens traded, a 168% jump above its daily average, suggesting coordinated activity at key price levels.
SUI, which runs the layer-1 blockchain developed by Mysten Labs, has drawn attention for its parallel transaction processing — a technical feature that enables faster performance at scale. While no major catalyst was announced Friday, analysts have recently cited SUI’s architecture and expanding ecosystem as potential drivers of long-term growth. Some have set a price target of $5 by 2025.
Technically, the token has built a series of higher lows – $1.93, $1.95 and $1.98 – culminating in the break above the psychological $2.00 mark. Resistance now sits in the $2.07 to $2.08 zone, with the next upside target around $2.34. A stop-loss just below $1.96 could offer a favorable risk/reward for traders betting on continuation.
Meanwhile, the broader CD5 index fell slightly, falling from $1,731.12 to $1,729.63. A sharp drop earlier in the day briefly pushed the index to a session low of $1,700.39 before recovering. The contrast underlines SUI’s outsized strength in an otherwise cautious market.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
