The Sui Network (SUI) has experienced a significant price surge, reaching an all-time high of $4.47 and gaining 80% in the past month. The token has since pulled back slightly to $4.15. The increase in price is likely attributed to various factors, including the integration of the Phantom Wallet with the Sui Network, as well as broader market dynamics and increased utility. Derivatives data suggests a bullish outlook for SUI, with high trading volume and a dominance of long positions. The token's Total Value Locked (TVL) has also reached a record $1.63 billion, indicating growing investor confidence. Technical indicators suggest continued strength and potential upside targets at $5.47, $6.44, and $7.31. An AI model projects SUI's year-end price to range between $5.50 and $6.50, driven by ecosystem growth, high TVL, and strong trader sentiment. However, broader market sentiment and ecosystem developments should still be monitored to assess SUI's price trajectory.
- Content Editor ( finbold.com )
- 2024-12-06
AI predicts SUI price for year-end