bullish

Suilend

Resistance

Helium

<ul class="wp-block-list"> 
 <li>SUI price surge reflects growing DeFi adoption and TVL growth.</li> 
 <li>Bearish divergence suggests potential consolidation, but long-term prospects remain strong.</li> 
</ul> 
SUI, the native token of the Sui Network, is garnering significant attention in the altcoin space, having recently achieved an all-time high (ATH) of $4.93, up from a previous range of $4.38. As of now, the token is trading at $4.78, reflecting a 9% increase in the past 24 hours, with its trading volume surging 48% in the same period. Over the past week, SUI has gained 15%, and its monthly performance shows a notable 27% rise, signaling continued bullish momentum for the network. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXf08322-CG_r3QOAMW2HI6-WBtu_zIDg-_QlFggNpKEromkAIWF8cG48e6QOtyeumdvhK8s5wBV6lvlnPuVkICOlieMUrj-pT-QjYCA0J7Wa4nJnEwzCx-YRlhXVO1DUqZPyZ6cCA?key=LXy6dp-LJ8mRvCa49Js2WCX5" alt="">
</figure> 
Notably, the surge in <a href="https://coinmarketcap.com/currencies/sui/" target="_blank" rel="noreferrer noopener nofollow">price</a> correlates with Sui Network’s decentralized finance (DeFi) ecosystem reaching a new milestone in total value locked (TVL), now at $1.79 billion. Lending platforms Suilend and NAVI Lending have been pivotal contributors, collectively accounting for 58% of the network’s locked assets. Suilend’s TVL stands at $552.5 million, while NAVI Lending has secured $491.23 million. 
The increased TVL is mirrored by a rise in trading volumes, with a record $551 million observed on December 12, coinciding with the TVL peak. This growth has positioned SUI as a prominent player in the <a href="https://thenewscrypto.com/charles-hoskinson-predicts-substantial-bitcoin-defi-dominance-in-3-years/" target="_blank" rel="noreferrer noopener nofollow">DeFi</a> space. The coin’s price performance also reflects the expansion of the DeFi ecosystem, staying above its 50-day moving average.&nbsp; 
<h3 class="wp-block-heading" id="h-look-at-sui-technical-indicators">Look at SUI Technical Indicators</h3> 
The relative strength index (<a href="https://in.tradingview.com/symbols/SUIUSDT/" target="_blank" rel="noreferrer noopener nofollow">RSI</a>) of 66 signals that SUI is nearing overbought territory, analysts suggest there’s still room for growth, with a potential rally targeting the $6 mark. 
However, there are signs of consolidation as the price experienced a pullback from the $4.50 range. The recent bearish divergence between price and RSI could suggest that the coin may face sell pressure in the near term, with a decline in TVL value further fueling concerns. Despite these short-term fluctuations, Sui remains a strong contender in the <a href="https://thenewscrypto.com/pantera-capital-ceo-talks-big-bets-on-these-three-altcoins/" target="_blank" rel="noreferrer noopener nofollow">altcoin</a> space, supported by institutional interest, including from figures like Raoul Pal, and the launch of the Grayscale Sui Trust. 
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Is SUI Poised for Continued Growth After Reaching New ATH?

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