Decoding SUI’s price action – Why a $1.68 breakout could extend toward…

ambcryptoPublished on 2026-01-04Last updated on 2026-01-04

Abstract

The price of SUI has surged nearly 19% in three days following news that Bitwise included it in a recent ETF filing. With Bitcoin challenging the $90k resistance and altcoins showing relative strength, SUI is showing bullish potential. A weekly close above $1.79 could signal further upside toward $2.95 and even $3.40. On the daily chart, a breakout above the $1.68 range high would confirm bullish momentum, supported by rising demand and positive market sentiment. Traders are advised to consider buying the breakout, targeting $3.40, though failure to break out may indicate a rejection. The rally is attributed to ETF news and Bitcoin's upward movement.

On the 31st of December, it was reported that Bitwise filed for 11 cryptocurrency ETFs. One of the altcoins included was Sui.

Since then, the token’s price has rallied nearly 19% in three days.

Bitcoin was challenging the $90k resistance zone at the time of writing. The Bitcoin Dominance has fallen noticeably since Tuesday, the 30th of December, a reflection of the relative strength in the altcoin market.

Can this strength last, and will Sui [SUI] embark on a sustained uptrend?

Here’s why Sui can rally another 70%

The 1-week chart was firmly bearish, but a price bounce was underway. A weekly session close above $1.79 would be a sign that SUI bulls have some temporary control.

This would drive prices toward $2.95 and $3.4. These levels were the key Fibonacci retracement levels overhead.

Neither the momentum nor the buying pressure reflected bullish strength on this timeframe, despite the recent gains.

The possibility of a reversal at the range highs

The range formation (purple) has its high at $1.68, and SUI was trading above it at the time of writing. A daily session close above the range extreme would be a strong sign of bullish conviction.

Failure to exit the range could be an early warning of bearish strength and an incoming rejection. As things stand, this outcome appears less likely.

Traders’ call to action- Buy the breakout

The OBV was attempting to climb higher, and the Awesome Oscillator had already made a bullish crossover, indicating rising demand and momentum. Bitcoin [BTC] has also scaled the local resistance at $90k, fueling bullish conviction across the market.

As the weekly chart showed, traders can buy the breakout and eye ambitious targets such as $3.40.

Final Thoughts

The Sui rally was likely a result of the Bitwise spot ETF application news as well as the Bitcoin bounce.
A breakout past $1.68 could take Sui to $2 next, and possibly as high as $3.40 in the coming weeks.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Trending Cryptos

CitreaCTR

wrapped stUSDTWSTUSDT

Velodrome FinanceVELODROME

BrevisBREV

ZRX（0X）ZRX

PancakeSwapCAKE

The Verdict in Choi Tae-won's Divorce Case: Revealing the Inheritance Undercurrent Behind SK Hynix's Trillion-Won Empire

SK Group Chairman Chey Tae-won's high-profile divorce case, involving a record 1.38 trillion won settlement, has drawn attention to the succession plans for Korea's second-largest conglomerate, especially its crown jewel, SK hynix. Unlike traditional chaebol scripts centered on the eldest son, Chey's three children from his marriage to former President Roh Tae-woo's daughter, Roh Soh-yeong, are carving distinct, non-traditional paths. Eldest daughter Chey Yun-jung (b. 1989) is seen as the most evident successor. With a scientific and consulting background, she holds executive roles at SK bioscience and SK Inc.'s growth support department, focusing on future strategy and biopharma. Her marriage is to an AI infrastructure entrepreneur, not a traditional business alliance. Second daughter Chey Min-jung (b. 1991) took a unique route, voluntarily serving as a South Korean naval officer, including an anti-piracy deployment. She later worked on policy and strategy for SK hynix in Washington D.C. before co-founding an AI-driven healthcare startup. She married a former U.S. Marine Corps officer, connecting her to U.S. defense and policy circles—networks crucial for a global semiconductor giant. The only son, Chey In-geun (b. 1995), who studied physics like his father, worked briefly at SK E&S before joining McKinsey. Despite fitting the traditional "heir" profile as the eldest son, he remains silent and holds no public position or shares in SK, suggesting the old succession playbook is obsolete. As SK hynix's valuation soars, becoming a geopolitical asset in the AI era, the heirs' legitimacy is no longer automatic. They must prove themselves in fields like AI biotech, global policy, and strategic consulting. Their marriages also reflect new elite networks in tech and defense, not old political alliances. Their inheritance is the complex challenge of navigating a globalized, tech-driven world, not just a corporate throne.

marsbitYesterday 09:06

The Verdict in Choi Tae-won's Divorce Case: Revealing the Inheritance Undercurrent Behind SK Hynix's Trillion-Won Empire

marsbitYesterday 09:06

Banks oppose stablecoin yield deal – Can CLARITY Act find 60 votes?

The Bank Policy Institute (BPI) has opposed the latest draft of the CLARITY Act, criticizing its provisions on stablecoin yield and illicit finance. The banking industry sought a total ban on stablecoin yield, but the bill's compromise only prohibits passive yield on idle balances. This opposition has influenced lawmakers, reducing tentative Republican Senate support to potentially 49 votes. With the 60-vote threshold needed, securing sufficient Democratic support appears difficult as some pro-crypto Democrats also oppose the bill due to ethics and illicit finance concerns. Senate Majority Leader John Thune expressed doubt the bill can pass before the August recess. Market odds for the bill's passage in 2026 have fallen, leaving its future uncertain.

ambcryptoYesterday 09:02

Banks oppose stablecoin yield deal – Can CLARITY Act find 60 votes?

ambcryptoYesterday 09:02

2 Months, Valuation Soars from $8.8B to $68B! The Largest AI Model Hub OpenRouter May Be Acquired

Stripe is reportedly in talks to acquire AI model marketplace OpenRouter for a price nearing $10 billion, a dramatic increase from its $1.3 billion valuation just two months prior. The deal, which could be announced within a month, would see the payment giant absorb a key "router" or aggregation layer in the AI infrastructure stack. OpenRouter provides developers with a single API to access over 400 large language models (LLMs), automatically routing queries to the most suitable model based on cost, capability, and speed. This allows AI applications to optimize expenses while maintaining user experience. Founded in 2023 by ex-OpenSea co-founder Alex Atallah and Louis Vichy, OpenRouter has grown rapidly, reaching $50 million in annualized revenue by April and serving over one million developers. For Stripe, the acquisition of OpenRouter follows its late-2025 purchase of usage-based billing platform Metronome. The combined strategy aims to create an integrated suite for the AI economy: OpenRouter would handle model selection and routing, Metronome would manage granular usage-based billing, and Stripe's core platform would process payments. This positions Stripe to control a critical part of the AI application value chain, influencing which models get used while simplifying cost management for enterprise customers.

链捕手Yesterday 08:59

2 Months, Valuation Soars from $8.8B to $68B! The Largest AI Model Hub OpenRouter May Be Acquired

链捕手Yesterday 08:59

From OpenSea to OpenRouter: Is Alex Atallah Repeating His 'Exit at the Peak' Playbook?

From OpenSea to OpenRouter: Is Alex Atallah Repeating His "Exit at the Peak" Playbook? According to the Wall Street Journal, payments giant Stripe is in talks to acquire the AI model aggregation platform OpenRouter in a potential deal valuing the company near $100 billion. This would mark founder Alex Atallah's second creation of a company reaching a $100 billion valuation, following his co-founding of NFT marketplace OpenSea. OpenRouter, founded just over three years ago, has grown rapidly by acting as a unified gateway for developers to access over 400 AI models. It currently has about 10 million users and processes over 200 trillion tokens monthly. While the platform's annualized revenue is around $50 million, its valuation has skyrocketed from $1.3 billion in March 2026. The potential acquisition by Stripe, a company OpenRouter's founder once likened it to, represents a major expansion into AI infrastructure for the payments leader. This move echoes Atallah's previous timing with OpenSea, where he departed before the NFT market's significant downturn. For OpenRouter, selling now may be strategic. Despite its scale, its business model—charging a 5-5.5% fee on AI inference calls—faces pressure from competition, open-source models, and potential price wars among model providers, limiting its profitability narrative for an IPO. A key asset for potential acquirers like Stripe is OpenRouter's vast repository of real-world AI usage data, which offers unique insights into model performance and developer preferences that are difficult to replicate. Whether this potential deal signifies a new valuation benchmark for AI infrastructure or another market peak signal remains to be seen.

链捕手Yesterday 08:42

Pons V2 brings RWA trading pairs as Robinhood Chain broadens its ambitions

Pons, a key launchpad on Robinhood Chain, has launched its V2 upgrade. The update aims to boost liquidity, remove trading restrictions for most users via an ETH-denominated bonding curve, and introduces support for custom tokenized real-world asset (RWA) trading pairs. This aligns with Robinhood Chain's broader RWA focus. The upgrade also allows creators to collect fees in ETH by default. The network itself is growing rapidly, surpassing $300 million in Total Value Locked. Its cumulative DEX volume has exceeded $9 billion, with about 80% coming from speculative memecoin trading. However, data shows 63% of traders are at a loss, with profits concentrated in a small number of wallets. The introduction of RWAs could help drive more organic adoption for the chain, which is positioning itself as a major player for speculative trading, challenging networks like Base and Solana.

ambcryptoYesterday 08:26

Trading

Spot

Hot Articles

Hot Tokens Learning Week 8: ADA's Ouroboros Leios Mainnet Expected to Launch in 2026

ADA's Ouroboros Leios mainnet is expected to launch in 2026, and the hard fork to Protocol Version 11 is planned for Q1 2026.

40.8k Total ViewsPublished 2026.02.10Updated 2026.02.12

Hot Tokens Learning Week 8: ADA's Ouroboros Leios Mainnet Expected to Launch in 2026

Hot Tokens Learning Week 14: Glamsterdam Set to Be Ethereum's Most Closely Watched Upgrade in 2026

Ordinals/Runes continue to drive block fee revenue and developer activity, and are seen as the starting point for Bitcoin's "native asset issuance".

27.6k Total ViewsPublished 2026.04.29Updated 2026.04.29

Hot Tokens Learning Week 14: Glamsterdam Set to Be Ethereum's Most Closely Watched Upgrade in 2026

Hot Tokens Learning Week 19: RWA and Infrastructure Stay in Focus; Pump Platform's Daily Trading Volume Returns to Recent Highs

Recently, Robinhood Chain adopted Chainlink as its official oracle and CCIP provider.

3.5k Total ViewsPublished 2026.07.22Updated 2026.07.24

Hot Tokens Learning Week 19: RWA and Infrastructure Stay in Focus; Pump Platform's Daily Trading Volume Returns to Recent Highs

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of S (S) are presented below.