Sui Price Spikes 73% in a Week Amid xPortal Partnership – Is a Rally to $4 Plausible?
Highlights:
- Sui rallies over 73% in a week as it trades at $3.65.
- The rally comes following Sui’s partnership with xPortal and xMoney.
- Sui TVL and On-chain metrics suggest a further upside to $4.
The SUI price has boasted strong bullish muscle, spiking over 19% in the past 24 hours to trade at $3. 65. The trading volume has notably increased by about 50%, indicating surging market activity and growing investor confidence. SUI now boasts a whopping 73% surge in a week, painting the bigger picture bullish, as the bulls entirely take the reins.
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What Is Behind the Sui Price Surge?
The Sui token has emerged among the top gainers, as the bulls flip moving averages into support zones. This comes following the recent Sui partnership with xPortalapp and xMoney to launch a branded wallet and Mastercard across Europe.
BREAKING: $SUI TEAMS UP WITH @XPORTALAPP AND @XMONEY_COM TO LAUNCH BRANDED WALLET + MASTERCARD! 💳
SPEND YOUR $SUI SEAMLESSLY VIA #APPLEPAY AND #GOOGLEPAY pic.twitter.com/C9mblN0WXv
— Matteo 🦭/acc (@matteodotsui) April 24, 2025
Notably, Grayscale, a crypto asset manager, opened Grayscale SUI Trust. This development is open to eligible accredited investors seeking SUI, and it has notably sparked a rally above the $3.45 mark in the SUI market.
Grayscale Sui Trust is open to eligible accredited investors seeking exposure to $SUI, a third-generation blockchain designed to help address scalability and transaction costs.
Learn more, see important disclosures, or reach out to us: https://t.co/7wTZubYK28 pic.twitter.com/gq1SuDI8zN
— Grayscale (@Grayscale) April 24, 2025
The SUI price is currently bullish on the market, as it has broken through the $3.60 mark and is targeting $4. A closer look at the SUI daily chart shows that the bulls have the upper hand, as the altcoin has flipped above the 50-day and 200-day Moving Averages. Currently, the SUI token sits at the $3.65 mark, with the potential to hit $4 in the coming days.
Can SUI Bulls Sustain the Bullish Momentum?
The buyers have the upper hand in the market, as they target the $5 mark in the medium term. However, if the support levels hold, the Sui price could surge toward $3.75 soon. The technical indicators, which paint the bigger picture as bullish, bolster the bullish outlook.
The Relative Strength Index (RSI) shows an intense bullish sentiment, sitting in the 77-overbought region. This could suggest an impending correction, enabling the bulls to sweep through liquidity in the market. On the other hand, the Moving Average Convergence Divergence (MACD) upholds a bullish signal. Moreover, the green histograms have increased in size, indicating intense buying activity.
SUI On-Chain Metrics Analysis
It is worth noting that, with the tokens sitting in overbought territory, early profiteering may commence. This is likely to enable the bulls to weep through liquidity before another leg up, potentially to $5. In such a case, the SUI price may consolidate or drop toward the $3.35 support zone. A deeper correction will see SUI plummet toward the $3.91, $2.97, and $2.81 support levels.
According to on-chain data metrics, SUI Derivative analysis shows a 34% spike in open interest to $1.66B. This rise in OI indicates growing investor confidence in the token, which will have more upside in the coming days. Moreover, the volume has soared 71% to $13.52B.
In addition, SUI’s TVL has spiked about 15% in the past 24 hours to $1.781B. This indicates heightened interaction with the SUI token. If the crypto market maintains a positive outlook and SUI continues to uphold the bullish sentiment, the bulls could attain the $4 target soon.
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Emmaculate Araka
Emmaculate Araka is a cryptocurrency writer with published works on Crypto2Community and other news sources. She is believer in the transformative power of crypto and the blockchain industry, conducting on-chain analysis, breaking down market-triggering events, and helping traders and investors benefit from expert technical price analysis. Emmaculate finds gratification in diving deep into the crypto space, earning herself significant knowledge and experience. She holds a Bsc. in Information Science, and outside work, Emmaculate loves reading novels and watching documentaries.
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