Analysts Turn Bullish on SUI as Token Extends Gains Amid Renewed Institutional Interest

Sui (SUI) is drawing renewed market attention after staging one of its strongest breakouts in months, rising sharply at a time when most large-cap altcoins remain range-bound.

The latest 31% surge was triggered by a series of developments that converged within days, most notably Coinbase’s approval to offer SUI trading to New York residents, a move that places the token inside one of the most heavily regulated crypto markets in the U.S.

The rally also arrived immediately after one of the largest token unlocks of the month, an event that would normally dampen prices but instead saw buyers step in with force.

SUI surged between 25% and 32% over the past 24 hours after Coinbase confirmed that New York residents can now buy and trade the token across its web and mobile platforms.

The approval extends SUI’s reach into one of the most tightly regulated U.S. markets, strengthening its profile as a compliant layer-1 network and increasing accessibility for institutional investors.

The listing comes at a notable time. On December 1, SUI unlocked approximately $82–86 million worth of tokens, increasing circulating supply by more than 0.5%. Large unlocks typically pressure prices, but SUI moved higher instead, signaling strong demand absorption.

Trading volume has more than doubled, hitting roughly $1.5 billion, levels analysts say indicate genuine accumulation rather than short-lived speculation.

The launch of USDsui, a fiat-backed stablecoin designed for payments and DeFi use across the Sui ecosystem, also contributed to renewed interest. Combined with Coinbase’s expansion, these developments have strengthened confidence in Sui’s broader market positioning.

Price action shows that SUI recently rebounded from November’s lows near $1.12, climbing above the $1.60 support zone.

Indicators such as RSI and MACD now suggest easing selling pressure and a potential shift in short-term momentum. Analysts note that breaking above the mid-Bollinger Band near $1.90 would confirm a broader trend reversal.

SUI has also moved above the Keltner mid-band for the first time in weeks, with volume delta readings showing strong spot-market buying.

The next major resistance sits between $1.80 and $1.95, followed by a wider zone extending to $2.30. A decisive close above $1.92 is viewed as critical for invalidating November’s downtrend.

Market watchers say the current rally hinges on sustained demand. If daily volume remains above $1.5 billion and price holds the $1.60–$1.67 support zone, institutional participation could continue to push the token higher toward the $1.90 level.

However, weakening volume or a drop below $1.48 may signal that SUI has formed a local top. For now, sentiment remains constructive as the token benefits from increased U.S. accessibility, improving technical signals, and expanding ecosystem activity.

Cover image from ChatGPT, SUIUSD chart from Tradingview