2024

Optimism

<p>Sui’s native asset, SUI, powered significantly higher in 2024 on a wave of enthusiasm for its novel L1 smart contract architecture focused on security and scalability.&nbsp;</p> 
<p>Trader <strong>Teshkid</strong> <a href="https://twitter.com/MtukufuMtukutu/status/1754538912171573750" target="_blank" rel="noreferrer noopener nofollow">highlights </a>$1.50 as the crucial support following the breakdown from its local highs around $1.66. Losing this base risks a plunge towards $1.36, marking the next demand zone for SUI:</p> 
<p><em>“Sui is breaking down after a massive rally to $1.6620. $1.5049 is my next target which is also support.”</em></p> 
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<p>On the other hand, a swift turnaround and closeback above $1.50 resistance could signal a pending bottom and reduce panic conditions, according to Teshkid. Still, certainty around a durable landing spot remains tenuous until that area proves itself on multiple retests.</p> 
<h2 class="wp-block-heading" id="strong-optimism-persists-on-tvl-growth-and-breakthroughs-strong"><strong>Optimism Persists on TVL Growth and Breakthroughs</strong></h2> 
<p>Meanwhile, analyst <strong><a href="https://twitter.com/CryptoBullet1/status/1754482730190917855" target="_blank" rel="noreferrer noopener nofollow">CryptoBullet</a></strong> echoes the optimistic longer-term outlook, citing impressive monthly candles and a surging total value locked across Sui’s protocol ecosystem exceeding $500 million. The rapid TVL growth mirrors other gauges of network activity and engagement that surpassed 6,000 transactions per second at peaks.</p>  
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<p>The TVL currently stands at $515.5 million, up 4.42% in the last 24 hours, according to the data from <a href="https://defillama.com/chain/Sui" target="_blank" rel="noreferrer noopener nofollow">DefiLlama</a>.</p> <iframe loading="lazy" width="100%" height="360px" src="https://defillama.com/chart/chain/Sui?&amp;theme=dark" frameborder="0"></iframe> 
<p>However, despite these impressive adoption metrics, SUI faces a critical fork in the road as it approaches former support at $1.50. Capitulating below this zone risks an extended correction targeting the $1 region. </p> 
<p>Yet a decisive bounce could set the stage for SUI to solidify a macro price bottom ahead of resumed upside trajectories. As such, analysts broadly expect continued volatility around these make-or-break levels before determining the next likely trend for Sui.</p> 
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<p>The post <a href="https://captainaltcoin.com/sui-faces-make-or-break-moment-at-this-support-as-network-crosses-major-tvl-milestone/">SUI Faces Make-or-Break Moment at This Support As Network Crosses Major TVL Milestone</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

SUI Faces Make-or-Break Moment at This Support As Network Crosses Major TVL Milestone

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