What to know:
- Sui’s public mainnet surpassed 6 million TPS, highlighting its growing scalability.
- SUI price remains below key resistance despite the bullish network milestone.
- Stable derivatives activity suggests traders are waiting for stronger confirmation.
SUI price is under the spotlight again after the blockchain achieved an impressive performance milestone, but the token’s price action has yet to reflect the bullish development. Investors are now watching whether increased network activity can translate into stronger buying momentum. At press time, SUI price was trading at $0.7317, down 2.66% over the past 24 hours.
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SUI is in the spotlight as Sui touches 6 million TPS
Sui’s public mainnet achieved a peak of more than 6 million transactions per second (TPS), according to a post shared by MSB Intel on X.
This milestone highlights the network’s growing scalability as it continues to compete with other Layer-1 blockchains to attract developers, decentralized applications, and institutional adoption.
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SUI price remains below key resistance despite bullish milestone
Despite the favorable update for the network, the overall technical outlook remains somewhat mixed. The coin’s price has remained below both the 50-day and 200-day moving averages, implying that buyers have yet to regain control of the market.
Moreover, immediate resistance lies close to $0.80, while $0.70 continues to act as a key support level.
On the other hand, the Relative Strength Index (RSI) has been hovering around 46, indicating neutral momentum. The technical analysis suggests that selling pressure has eased compared to the previous few sessions, but buying momentum has not strengthened enough to support a potential bullish breakout above $0.80.
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CoinGlass data signals cautious market sentiment
According to CoinGlass, SUI’s open interest has remained stable at around $500 million, suggesting that derivatives traders continue to hold their positions despite recent volatility.
However, trading volume has yet to increase significantly, indicating that the market is waiting for stronger confirmation before turning bullish.
For investors, the key question is whether the continued expansion of Sui’s ecosystem and its record throughput will translate into stronger on-chain activity and enough buying pressure for the SUI price to break above the $0.80 resistance level.
Until then, SUI price is likely to remain influenced by both broader market sentiment and continued network adoption.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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