Sui Price Surges Toward $10, Leading Altcoin Market with Strong TVL Growth and Bullish Momentum
Highlights
- Sui posts an impressive 600% annual gain, outperforming key altcoin rivals.
- The $4.50 support level holds steady, with analysts predicting a potential breakout to $10.
- Total Value Locked (TVL) climbs to $1.87 billion, boosting investor confidence.
Sui’s price has demonstrated remarkable growth over the past year, positioning it as one of 2024’s standout altcoin performers. After an all-time high earlier in the year followed by a mid-year dip, SUI has regained its bullish momentum. With the market rebounding, Sui is steadily climbing, targeting a breakout to the $10 mark. Analysts remain optimistic about sustained upward movement in the coming months.
Sui Poised for a Breakout to $10
Sui’s performance has cemented its place as a leading altcoin, delivering over 600% returns in the past year—significantly outpacing competitors like Binance Coin (BNB), which saw a 132% return.
Key technical indicators suggest that Sui is primed for further gains. With its price holding above $4.50, analysts foresee a potential surge toward $10 if the bullish trend persists.
Current Price Trends and Technical Analysis
Sui is currently ranked 14th by market capitalization and trades at $4.48 after a recent spike. However, it has dropped 5% over the past week, struggling to sustain momentum above $5. Despite this, the ascending price channel indicates continued upward potential, as the coin recently bounced from a $4.40 support level.
A sustained position above $4.50 could pave the way for Sui to hit $5.00 and $5.50 in the short term. Reaching the $10 target would require more than a 2x increase. However, a dip below $4.40 could invalidate the bullish outlook, potentially causing a drop to $4.20. The MACD indicator remains bullish, supporting a favorable price trajectory for SUI. 
TVL Milestone Boosts Market Sentiment
Sui’s Total Value Locked (TVL) has reached $1.87 billion, reflecting growing investor confidence and strengthening the Layer 1 blockchain’s ecosystem. This milestone reinforces Sui’s potential for further growth as it gains traction among DeFi participants. 
Conclusion
Sui’s price rally highlights its potential to become a top 10 cryptocurrency by market cap in the coming weeks. A sustained hold above $4.50 is crucial for continued bullish momentum. If the upward trend continues, a move toward $10 could solidify Sui’s position as a dominant force in the altcoin market.
