Can SUI’s Ecosystem Boom Help Prices Reach New Highs? – Analysis…

币界网报道:Sui [SUI] has seen gains of over 10%, with trading volumes surging by over 141% in the past 24 hours. The growth of the Sui ecosystem can be attributed to several reasons that have contributed to price growth since its inception. Here are some of them; The SUI ecosystem is thriving…Suilend and NAVI have become the two protocols with the highest total value locked (TVL) on the SUI network, with a gap of just $12 million between them. According to Torero Romero, Suilend’s TVL is $539.1 million, while NAVI is close behind at $527.5 million. Both protocols have experienced significant growth in TVL since Q4 2024, peaking in January 2025. However, their trajectories differ: NAVI’s growth has been more stable, while Suilend’s TVL has shown greater volatility, with larger swings. This competition highlights the fierce battle for the top spot between the two in the SUI DeFi space. In this way, user fund flows and protocol utility can easily determine the next dominant force. In addition, SUI has an amazing developer growth rate of +16.1% year-on-year, ranking second only to Solana's +17.7%. More interestingly, SUI is the best performing network in terms of two-year developer growth at +54%, with all other networks lagging far behind. However, this is in contrast to the broader trend. Overall, the number of cryptocurrency developers has decreased by 20%. While most EVM Layer 1 chains are heading towards negative growth, SUI is showing a different path. What's the price trend? A clear inverted head and shoulders pattern has formed on SUI's 2-hour chart, signaling a potential trend reversal. The neckline slopes down from $3.20 to $2.90, which has been a key resistance level. After several failed attempts, SUI finally broke through the neckline, confirming the breakout. The move pushed the price above $3.00, consolidating the bullish pattern. If the momentum continues, the SUI could target the $3.20 to $3.40 range. However, a break below the $2.90 neckline would put the breakout at risk of invalidating, potentially signaling a false move. If the SUI fails to sustain above $2.90, there is a risk of a pullback to the $2.60 to $2.70 area, which aligns with the previous right shoulder of the inverted head and shoulders pattern. The recent breakout candle also faced mild selling near $3.10, so immediate follow-through will be crucial to sustain momentum. While the chart still reflects underlying strength, the continuation of the uptrend may require increasing volume and consolidation near the neckline to confirm support.

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