SUI Poised for New Highs, Analyst Michaël van de Poppe Eyes $3.30 Breakout

According to Michaël van de Poppe, SUI is on the verge of a potential new run towards all-time highs, presenting a 'super interesting' opportunity for traders. Van de Poppe highlights significant on-chain growth, with the Sui network's stablecoin supply surging from $400 million to nearly $1.2 billion since January and its Total Value Locked (TVL) reaching $1.8 billion, as cited in the report. He specifically points to the protocol's lending platform, SuiLend, which saw its TVL increase by 90% to over $600 million in the past month. For a trade setup, Van de Poppe identifies $3.30 as the key resistance level; a decisive close above this price could act as a catalyst, sparking a move to new highs by tapping into a major liquidity zone.
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The SUI network is capturing significant attention from traders and analysts, with prominent crypto analyst Michaël van de Poppe suggesting the token is “on the edge of a new run towards highs.” This bullish outlook is supported by a confluence of strong on-chain fundamentals and positive technical price action. On Monday, SUI demonstrated notable strength, climbing 3.85% to trade at $3.1110. The token carved out a multi-hour uptrend, pushing through several key resistance levels to reach a session high of $3.1554 before finding stability. This upward move was underpinned by substantial trading volume, signaling strong conviction from buyers and validating the breakout attempt.
SUI's On-Chain Ecosystem Growth Fuels Bullish Sentiment
The core of the bullish thesis for SUI stems from its explosive ecosystem growth. In a post on X, Michaël van de Poppe described SUI as a “super interesting as an ecosystem,” highlighting several impressive on-chain milestones. The supply of stablecoins on the Sui network has surged from $400 million in January to nearly $1.2 billion, indicating a massive influx of liquidity and user capital. Furthermore, the total value locked (TVL) on the protocol has swelled to $1.8 billion, positioning Sui as the third-largest non-EVM chain by this metric. This rapid expansion in user activity and capital commitment is a powerful indicator of the network's growing adoption and utility. The momentum is further accelerated by key integrations, such as the support from the popular Phantom wallet and the launch of Slush, the rebranded native SUI wallet, which are making the ecosystem more accessible to a broader user base.
Technical Analysis and Key Price Levels for SUI
From a trading perspective, SUI's price action aligns with its strong fundamentals. During the analysis period, the token traded within a dynamic range of $2.9742 and $3.1554, marking a significant 6.09% intraday move. The price decisively broke above the $3.08 resistance level, with a new support base forming between $2.96 and $2.97. The accumulation was evident in the trading volume, which exceeded 12 million units between 01:00 and 07:00 GMT. A pivotal moment occurred at 13:56 GMT when a volume spike of over 1 million units propelled SUI through the $3.12 level, initiating a clear breakout. According to van de Poppe, the critical level to watch is a definitive close above $3.30. He identifies this zone as a key area of liquidity, which, if claimed, could spark a powerful continuation move toward new all-time highs. The session closed with bullish continuation patterns intact, suggesting momentum may persist.
Comparative Market Analysis: SOL Shines While ADA Lags
Placing SUI's performance in the context of the broader Layer 1 market reveals a clear trend favoring high-growth ecosystems. Solana (SOL) exhibited similar strength, with the SOLUSDT pair rallying 4.021% to $150.06 and hitting a 24-hour high of $152.69. More impressively, SOL showed significant relative strength against the market leaders, with the SOLBTC pair climbing 4.197% and the SOLETH pair rising 2.595%. This indicates that capital is rotating into high-beta altcoins like SOL and SUI, which are perceived to have higher growth potential. In stark contrast, an older-generation Layer 1 like Cardano (ADA) displayed sluggish performance. The ADAUSDT pair saw a negligible 0.107% gain to $0.5613, while the ADABTC pair actually lost 0.571% of its value. This divergence highlights a potential market narrative where traders are prioritizing newer, faster-growing blockchains over more established but slower-moving projects. For traders, this presents a clear opportunity to focus on assets demonstrating relative strength, such as SUI and SOL, while potentially avoiding or shorting laggards like ADA.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast