Sui’s long-term outlook depends on whether the token can hold its current support level and break through several resistance zones. Rising transaction activity also provides insight into the network’s processing capacity, offering another metric to watch as investors assess the potential for a sustained price recovery.
As of now, according to CoinMarketCap data, Sui is trading at $1.00, with an increase of 1.62% over the past 24 hours and a decline of 2.21% over the past week.
SUI Price Recovery Scenario Points to $8 Target by 2029
According to crypto analyst Giannis Andreou, SUI is approaching a critical support zone near $1 on the weekly chart. This level could provide a base for a long-term recovery if buyers manage to defend it. However, the price needs to move above $1.34 and $1.80 to strengthen the bullish outlook.
The next major resistance levels stand at $2.35, $3.92, and the previous peak near $5.36. A sustained move above these barriers could open the way for SUI to target $8 by 2029, representing an eightfold increase from the chart’s displayed price level.
Despite the optimistic projection, SUI would need to reclaim each resistance level to support the recovery scenario, with potential pullbacks along the way. A weekly close below the $1 support zone would weaken the bullish structure and increase the risk of further declines before a sustained recovery takes shape.
Sui Network Records 11.6 Million Transactions in a Single Day
The data from Chainspect shows that the Sui network processed 11,609,583 transactions in a single day, averaging 134 transactions per second (TPS). This was the network’s busiest day over the past week, highlighting a recent increase in transaction activity.
Sui is a layer-1 blockchain that supports decentralized applications and digital asset transfers. Rising transaction volumes can indicate greater network usage, but transaction counts alone do not establish user growth or confirm wider adoption.
The latest figures provide a snapshot of Sui’s transaction throughput as activity on the network evolves. Monitoring daily transaction volumes and average TPS can help assess whether the recent pace continues, although these metrics alone do not establish the extent of sustained demand for the network.
