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SUI rides a wave of bullish momentum as the standards of its original ecosystem rises, as the Stablecoin market is approaching again from its highest level ever.
Sui (SUI) increased about 29 % last week and 70 % over the past 14 days, outperformed the wider encryption market, which gained only 1.3 % in the same time frame. This assembly comes as a SUI network that shows steady growth. According to Devillama DataThe total Stablecoin market ceiling on SUI to 886 million dollars, less than $ 2 million from its high range ever earlier this week.
Last year, stablecoin flows rose to the network. According to the participation of April 28 on the X by the analyst in the Torero Romero series, 29 % of the flows out of ETHEREM (ETH) were directed via the worm bridge last year to SUI. This creates the network as a growing alternative layer, although the continuous ethereum dominance and the strong developed ecosystems.
Meanwhile, the total closed value of the network increased to $ 1.78 billion, which approached its peak of $ 2.08 billion in January. SUI -based decentralized exchanges are also increasing. The weekly DEX size was $ 3.64 billion last week, which represents an increase of 75 % of $ 2.08 billion in the previous week.
SUI is currently trading at $ 3.56 after its recent outbreak of monotheism. SUI is constantly indicated by SUI to close the upper bollinger range. The bullish condemnation is confirmed by the basic procedure that is more than 50 days moving average, which is $ 2.70 and the volume of height that supports modern green candles.
In 76, the relative strength index shows that the market has made clear. This does not necessarily indicate a reflection of this trend, but rather a potential cooling in the short term. The next psychological level approaches $ 4.50 if the bulls penetrate the resistance at $ 3.95.
Support is on the downside at $ 2.70 and $ 3.51. A deeper decline in a range of $ 2.00 – 2.20 may be operated by lower break than these.