TLDR
- SUI broke out of an inverse head-and-shoulders pattern with a technical target of $3.89
- The cryptocurrency gained 11% today, trading near $3.44 after breaking above key moving averages
- Grayscale released a positive report highlighting SUI’s technical advantages and former Facebook engineer team
- DeFi activity surged to $281 million in 24 hours, showing renewed ecosystem growth
- Trading volume exceeded $20.8 million, confirming the bullish price movement
Sui (SUI) rallied 11.3% to $3.41 on Thursday, breaking above multiple technical resistance levels. The cryptocurrency gained momentum after Bitcoin reached new all-time highs above $117,000.
The price movement confirmed a bullish inverse head-and-shoulders pattern on the charts. This technical formation suggests potential upside to $3.89, according to pattern analysis.
SUI broke above its 50-day simple moving average at $3.08 during Thursday’s session. The cryptocurrency also pushed through its 20-day exponential moving average at $2.92 on Wednesday.
Technical indicators show strengthening bullish momentum. The 20-day EMA is attempting to turn upward while the RSI moved into positive territory.
The cryptocurrency currently trades near $3.44, well above key moving averages. These former resistance levels have now become support zones for the token.
Volume data supports the price action with over $20.8 million in trading activity. This confirms genuine buying interest behind the rally.
Grayscale Report Highlights Technical Advantages
Grayscale released a report backing SUI’s competitive position in the blockchain space. The investment firm cited the project’s core technology and development team as key strengths.
Sui (@SuiNetwork) is a next generation blockchain that prioritizes two things: usability and scalability. Built by the team behind @facebook's Diem project, we believe Sui is well positioned to enable crypto's next "killer application."
Read the latest from Grayscale Research ⬇️…
— Grayscale (@Grayscale) July 9, 2025
The report emphasized that many SUI developers are former Facebook engineers. This technical background adds credibility to the project’s roadmap and execution capability.
Grayscale also pointed to SUI’s scalability features and focused strategy. These factors help differentiate the blockchain from competitors in the crowded Layer 1 space.
The positive assessment from a major institutional player contributed to renewed interest in the token. Grayscale’s endorsement carries weight with institutional and retail investors alike.
DeFi Activity Shows Ecosystem Growth
On-chain metrics reveal growing activity across the SUI ecosystem. The network now supports over 70 decentralized applications with total value locked exceeding $2.6 billion.
DeFi transactions on SUI reached $281 million in the past 24 hours. This represents strong daily activity for the network’s financial applications.
Stablecoin transactions totaled $887 million over the past month. The adjusted volume increased to 151 billion, marking a 5.6% rise in network usage.
Cetus, one of the platform’s major protocols, processed $116 million in transactions during the last day. The protocol handled $3.35 billion in monthly volume.
These metrics indicate recovering confidence in the SUI ecosystem. The network appears to be rebuilding trust following a hacking incident two months ago.
SUI-based protocols executed $852 million in transaction volume over the past 30 days. This sustained activity level shows consistent user engagement across the network.
The cryptocurrency’s momentum indicators remain positive with the MACD showing a confirmed bullish crossover. The RSI sits at 64, indicating room for further upside before reaching overbought conditions.
