Since the beginning of September, SUI has seen an impressive enhance of over 160%, and its price is currently hovering around $2. This remarkable growth has analysts and investors very hopeful about the future of Layer 1 blockchain. In addition to the skyrocketing price, SUI is showing forceful growth across key metrics, signaling increasing adoption and usage.

According to data from DefiLlama, SUI’s total value locked (TVL) has reached a novel record high, indicating forceful demand for the decentralized finance (DeFi) ecosystem. The growing number of TVLs highlights growing user and developer interest, further increasing confidence in SUI’s long-term potential.

The piercing price enhance is not only due to market sentiment, but is supported by measurable growth in the platform’s fundamentals. As both TVL and user engagement increases, the positive outlook for SUI continues to improve. Investors are now eyeing higher price targets as they expect the Layer 1 blockchain to continue to grow in the coming weeks.

As SUI climbs to the next level, its performance reflects both forceful market support and underlying network development, making it one of the most talked about projects in the crypto space.

SUI TVL signals an ongoing rally

SUI is currently testing a key supply level around $2, which is a psychological barrier that, once breached, could pave the way for a rally towards novel highs.

Analysts are closely watching this level, as a break above it would likely trigger a forceful upward move. On-chain data from DefiLlama confirms this optimism by revealing that SUI’s total value locked (TVL) has reached an all-time high of $1.07 billion. This represents a remarkable 65% enhance in TVL over the last 30 days, signaling growing confidence in the platform’s utility and long-term potential.

TVL growth is a net positive for the SUI coin as it reflects the growing adoption of the Sui ecosystem. As more value flows into the network, demand for SUI tokens will likely enhance, creating upward pressure on their price. Investors often view rising TVL numbers as a growth signal, suggesting that the platform is gaining popularity and trust among users.

If these positive trends in TVL and overall network activity continue, a rally above the previous SUI record high of $2.16 appears likely in the coming weeks. As momentum increases, many expect SUI to make further gains, strengthening its position as the leading Layer 1 blockchain.

Price Action: Liquidity Levels to Watch

SUI is currently trading at $1.89, just 15% off its all-time high of $2.18. The recent price action has been encouraging, with an enhance of 8% in the last hours. Many analysts believe that if SUI manages to break above the critical $2 level, the chances of it reaching novel all-time highs are very high. This psychological barrier can create a wave of buying pressure, pushing the price to novel levels.

However, some investors are cautious, expecting a forceful correction before a further upward move. If SUI fails to break above $2, a pullback to support levels around $1.60 or even down to $1.45 would not be unexpected. Such a correction could provide a solid foundation for another bullish leg, allowing SUI to gain momentum before attempting to break the resistance at $2 again.

Still, overall sentiment remains upbeat, with many investors expecting a novel record high soon. Recent performance and market dynamics for SUI suggest that the coming days will be crucial in determining the next move.

Featured image from Dall-E, chart from TradingView