bullish

Band

USDC

<p style="text-align: justify">Sui (<a href="https://en.coin-turk.com/sui-falls-5-7-percent-and-tests-1-support/" rel="noopener noreferrer nofollow">SUI</a>) climbed 4.4% in the last 24 hours to $1.23, as interest in the blockchain’s payment-focused vision continues to grow. The move follows comments by Mysten Labs co-founder Adeniyi Abiodun, who shared new details on Sui’s strategy centered around payments, stablecoins, and AI-driven transactions.</p>
<h2 id="sui-s-position-in-payments-and-market-data">Sui’s Position in Payments and Market Data</h2>
<p style="text-align: justify">Mysten Labs, the developer behind Sui, aims to build the blockchain as a payment infrastructure rather than a typical Layer 1 protocol. In a recent interview, Abiodun stated that Sui’s long-term ambition is to replace legacy networks like SWIFT, the global system for interbank transactions.</p>
<p style="text-align: justify">SUI currently holds a market capitalization close to $5 billion. Over the past day, trading volume reached $878 million, with the token fluctuating between $1.17 and $1.26.</p>
<p style="text-align: justify">Abiodun emphasized that Sui’s approach is unique among major smart contract platforms, citing the network’s capacity for high-speed and cost-efficient transfers. He highlighted the importance of seamless payments and a robust stablecoin ecosystem in achieving scale.</p>
<blockquote>
 <p>Sui has processed more than $1 trillion in stablecoin transactions since August 2025, underscoring its role in digital payments infrastructure.</p>
</blockquote>
<h2 id="technical-levels-and-analyst-perspectives">Technical Levels and Analyst Perspectives</h2>
<p style="text-align: justify">Trader Ali Martinez identified $1.27 as a critical resistance point for SUI. According to Martinez, since September 12, SUI has repeatedly consolidated in parallel channels before breaking upward.</p>
<blockquote>
 <p>An hourly close above $1.27 could confirm another bullish breakout, creating the potential for further upside.</p>
</blockquote>
<p style="text-align: justify">Despite multiple attempts, SUI has yet to decisively surpass $1.27, recently reaching a high of $1.26. On the weekly chart, SUI trades above its upper Bollinger Band at $1.19, with the 20-week middle band at $0.83. The Relative Strength Index sits at 58.7, signaling moderate momentum but not overbought conditions.</p>
<p style="text-align: justify">Celal Kucuker, another analyst, commented that a bull flag pattern is nearing resistance. He suggested a breakout this month could bring the $2 level into view, while a future bull market could push SUI above $10.</p>
<table style="border:1px solid #f1e4d8;padding:8px">
 <thead>
  <tr>
   <th>Metric</th>
   <th>Current Value</th>
   <th>Key Level/Range</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>Current Price</td>
   <td>$1.23</td>
   <td>$1.17 – $1.26 (24h range)</td>
  </tr>
  <tr>
   <td>Resistance Level</td>
   <td>$1.27</td>
   <td>Potential breakout</td>
  </tr>
  <tr>
   <td>Market Cap</td>
   <td>~$5 billion</td>
   <td>–</td>
  </tr>
  <tr>
   <td>Trading Volume (24h)</td>
   <td>$878 million</td>
   <td>–</td>
  </tr>
  <tr>
   <td>Weekly Bollinger Band (Upper)</td>
   <td>$1.19</td>
   <td>–</td>
  </tr>
 </tbody>
</table>
<h2 id="sui-s-payment-ecosystem-and-ai-collaboration">Sui’s Payment Ecosystem and AI Collaboration</h2>
<p style="text-align: justify">The Sui Foundation reported that the network surpassed $1 trillion in stablecoin transfers since August 2025. Additionally, Sui implemented gasless stablecoin transfers, allowing users to transact without holding SUI for fees. The network’s native stablecoin, USDsui, reached $75 million after its March launch via the Stripe-owned Bridge platform.</p>
<p style="text-align: justify">Payments firm Daya integrated Sui as a settlement layer for its enterprise services in Nigeria and plans to expand to other African markets. RedotPay also joined, offering support for SUI and native USDC on the Sui blockchain.</p>
<p style="text-align: justify">Google recognized Mysten Labs as a collaborator in AP2, its open protocol for AI-driven payments. The project includes over 60 participants, such as Mastercard, PayPal, and Coinbase, and aims to advance programmable AI payment solutions.</p>
<p style="text-align: justify">Sui continues to develop AI tools, including Walrus for storage, Seal for access controls, and Nautilus for verifiable computing. In July, Sui’s infrastructure achieved a test peak of more than 6 million transactions per second, reflecting its scalability for advanced payment use cases.</p>
<p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: Mysten Labs is a technology company known for founding and developing the Sui blockchain, a Layer 1 protocol emphasizing high-speed, low-cost transactions and programmable digital asset management.</p>
<p style="text-align: justify">DefiLlama currently places Sui’s total value locked (TVL) in DeFi at around $550 million, with the stablecoin market cap near $482 million. The network processed roughly 25.3 million transactions in the last day.</p>
<p style="text-align: justify">SUI is now consolidating near $1.23. A move above $1.27 may trigger renewed bullish momentum, while a reversal below $1.19 could signal further consolidation within the prevailing range.</p>
<p>The post <a href="https://en.coin-turk.com/sui-price-rises-4-4yuzde-to-1-23-traders-eye-1-27-breakout/" rel="noopener noreferrer nofollow">Sui price rises 4.4% to $1.23, traders eye $1.27 breakout</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Sui price rises 4.4% to $1.23, traders eye $1.27 breakout

Table of Contents

COINTURK NEWS

Other articles published on Oct 5, 2026

Join our free newsletter for daily crypto updates!