$SUI Price Approaching New All-Time High - CoinGape Analytics

Solana-killer Layer 1 blockchain – Sui Network –  is witnessing a strong demand within the decentralized finance (DeFi) market thereby triggering a strong recovery in the SUI price. Over the past month, SUI has gained a massive 60% moving all the way to $1.60 levels in the latest surge.

Earlier this year in March, the SUI price touched a new high above $2.08, along with the Bitcoin price hitting a new all-time high. However, within three months following it, it collapses all the way under $0.50 amid the broader market sell-off.

Showing resilience, SUI has staged a strong recovery since the June lows and is on the path to hit fresh all-time highs again. The SUI token price today is up 9.7% trading at $1.6 levels with its market cap at $4.2 billion and daily trading volumes shooting up 93% to $841 million.

As per the technical chart, the SUIUSDT trading pair has surged past the critical resistance of $1.57 and is eyeing the next resistance at $1.80 levels. Thus, there’s a high probability of SUI hitting its previous all-time levels and surging beyond that.