Sui price continued consolidating near recent highs on Monday after posting one of the strongest weekly rallies among major cryptocurrencies, raising expectations that bulls could soon attempt a retest of the key $1.50 resistance level.
Summary
- Sui price rallied more than 30% in a week, with the token climbing from below $0.95 to highs near $1.40 before consolidating.
- Nasdaq-listed SUI Group Holdings removed 108.7 million SUI from circulation through staking, tightening available supply on the market.
- Bullish MACD momentum and rising ecosystem adoption have increased expectations for a potential move toward the key $1.50 resistance zone.
According to data from crypto.news, Sui (SUI) traded around $1.26 at press time on May 12 after rallying more than 30% over the past seven days. The token recently surged from below $0.95 to highs near $1.40 before facing mild profit-taking near local resistance.
The latest rally came as investor sentiment around the Sui ecosystem continued improving following several major institutional and ecosystem developments over recent weeks.
One of the biggest catalysts remains the growing supply squeeze created by Nasdaq-listed SUI Group Holdings. The company previously moved its entire treasury of 108.7 million SUI tokens into direct staking on the network, effectively removing nearly 2.7% of the token’s circulating supply from active market trading.
The reduced liquid supply helped strengthen bullish momentum as demand for the token accelerated alongside improving market conditions across the crypto sector.
At the same time, Mysten Labs recently revealed plans to launch confidential transactions and fee-free stablecoin transfers on the Sui blockchain later this year, developments that significantly boosted optimism around the network’s long-term adoption potential.
Meanwhile, derivatives activity added further fuel to the rally. CoinGlass data recently showed a sharp increase in short liquidations as bearish traders were forced to close positions during SUI’s rapid breakout above the psychological $1.00 resistance zone.
The combination of improving fundamentals, tightening supply conditions, and aggressive short covering helped drive one of SUI’s strongest weekly performances in months.
Sui price analysis
On the daily chart, SUI recently confirmed a powerful breakout above the key $1.00 resistance region after spending several months consolidating between roughly $0.85 and $1.05.
The rally pushed SUI toward the major horizontal resistance zone near $1.50, a level that previously acted as a strong support area before the broader market correction earlier this year.
Momentum indicators continue to favor the bulls despite some signs of short-term cooling. The MACD remains firmly bullish following a strong positive crossover, while the histogram continues printing expanding green bars, suggesting upward momentum remains intact.
Meanwhile, the RSI recently climbed above 73 before easing slightly lower, indicating that SUI briefly entered overbought territory during the rally. While this could trigger temporary consolidation or mild pullbacks, the indicator still remains above its signal line, showing buyers largely remain in control.
If bullish momentum continues building above the current consolidation zone, SUI could soon attempt another breakout toward the key $1.50 resistance level. A decisive move above that area could potentially open the door toward higher resistance zones not seen since early 2026.
On the downside, failure to hold above the $1.20 support region could trigger profit-taking and pull SUI back toward the previous breakout zone near $1.00 before buyers attempt another upward move.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
