Stablecoin

Walrus

Token

<h2 id="key-takeaways">Key Takeaways</h2>
<ul>
 <li>SUI is working to maintain support above $0.9725, which previously served as the ceiling of its extended consolidation zone.</li>
 <li>Current price action displays consecutive higher peaks and troughs, though a decline beneath $0.9542 could undermine this bullish formation.</li>
 <li>Crypto analyst Ted identified a breakout from a nine-month bearish trendline and has targeted $1.50 as the next significant milestone.</li>
 <li>The Sui blockchain has implemented gasless stablecoin transactions at the protocol layer, with private transfer functionality scheduled for this month.</li>
 <li>Walrus Protocol has become a Diamond-tier sponsor of Sui Basecamp, highlighting the ecosystem’s expanding data verification infrastructure.</li>
</ul>
<p>The Sui token is working to confirm a breakout after surpassing price levels that constrained it throughout recent months. SUI is currently attempting to maintain its position above $0.9725, which previously represented the upper limit of its consolidation range.</p>
<figure style="width: 100%" class="wp-caption aligncenter"><img src="https://blockonomi.com/wp-content/uploads/2026/09/chart-22-2.webp" alt="sui price" width="1824" height="1248">
 <figcaption><a href="https://www.coingecko.com/en/coins/sui?chart=type%3Dprice%26mode%3Dline%26timeframe%3Dd7" rel="noopener noreferrer nofollow">Sui Price</a>
 </figcaption>
</figure>
<p>This upward movement comes after SUI broke free from a descending wedge formation and cleared resistance near the $0.85 mark. The token had been trading around $0.82 before pushing through that technical barrier.</p>
<p>Current chart patterns reveal a sequence of ascending highs and lows. Maintaining ground above the previous range resistance would preserve this constructive technical setup.</p>
<h2 id="sui-blockchain-introduces-advanced-stablecoin-functionality">Sui Blockchain Introduces Advanced Stablecoin Functionality</h2>
<p>Developments within the Sui ecosystem extend beyond simple price movements. The network has now enabled gasless stablecoin transactions at the foundational protocol layer, as noted by market analyst Ted.</p>
<div class="embed-x">
 <blockquote class="twitter-tweet">
  <p>BREAKING: Sui is “the only major L1 where users can send stablecoins with zero gas fees,” per Adeniyi Abiodun. <a href="https://t.co/Fa3r7s2PhE" rel="noopener noreferrer nofollow">pic.twitter.com/Fa3r7s2PhE</a></p>
  <p>— MSB Intel (@MSBIntel) <a href="https://x.com/MSBIntel/status/2102103168243105893?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 21, 2026</a></p>
 </blockquote>
</div>
<p>Ted shared on X that confidential transaction capabilities are anticipated to arrive within this month. This feature will allow transaction amounts to remain hidden while ensuring settlement verification remains possible.</p>
<p>According to Ted’s analysis, SUI has successfully escaped from a nine-month declining trend channel. He suggested that some price consolidation might prove beneficial before the next upward leg and highlighted $1.50 as his subsequent price objective.</p>
<div class="embed-x">
 <blockquote class="twitter-tweet">
  <p><a href="https://x.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SUI</a> is starting to look interesting again.</p>
  <p>Gasless stablecoin transfers now work at the protocol level, and confidential transfers are coming this month, keeping amounts private while settlement stays verifiable.</p>
  <p>At the same time, SUI has broken out of a 9-month downtrend.… <a href="https://t.co/nOdiT53lC7" rel="noopener noreferrer nofollow">pic.twitter.com/nOdiT53lC7</a></p>
  <p>— Ted (@TedPillows) <a href="https://x.com/TedPillows/status/2102409559176339735?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 22, 2026</a></p>
 </blockquote>
</div>
<p>The broader Sui ecosystem continues to strengthen its data infrastructure capabilities. Walrus Protocol recently announced its participation in Sui Basecamp at the Diamond sponsorship tier.</p>
<p>Walrus positions itself as a solution for creating portable, secured, and verifiable data structures. The initiative was launched by former engineers from Meta who contributed to Sui’s original development.</p>
<h2 id="technical-structure-points-to-critical-support-zone">Technical Structure Points to Critical Support Zone</h2>
<p>From a chart analysis standpoint, $0.9725 represents the crucial near-term support level requiring close attention. Holding above this threshold would validate the ongoing breakout structure.</p>
<p>A retreat below $0.9542 would compromise the bullish formation and potentially send SUI back into its former trading range. Technical analysis suggests the next resistance zone sits approximately at $1.0370.</p>
<p>Beyond that point, additional technical barriers emerge around $1.1637 and $1.38. Ted’s broader price target of $1.50 extends past these intermediate chart levels.</p>
<p>Previous technical assessments had identified $1.10 and $1.35 as potential objectives following a successful breach above $0.85. Those projections were established before SUI developed its current price configuration.</p>
<p>Trading volumes during the initial breakout phase were predominantly concentrated on Binance, with OKX and Upbit following. Exchange flow data from that period indicated active participation from both buyers and sellers rather than a one-sided market movement.</p>
<p>SUI’s present situation therefore merges improving technical chart structure with meaningful protocol-level enhancements to stablecoin operations. The critical near-term question centers on whether the token can sustain its position above the former resistance zone near $0.9725.</p>
<p>The post <a href="https://blockonomi.com/sui-token-breaks-free-from-multi-month-decline-with-stablecoin-upgrade/" rel="noopener noreferrer nofollow">SUI Token Breaks Free From Multi-Month Decline With Stablecoin Upgrade</a> appeared first on <a href="https://blockonomi.com" rel="noopener noreferrer nofollow">Blockonomi</a>.</p>

SUI Token Breaks Free From Multi-Month Decline With Stablecoin Upgrade

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