SUI Trading Volumes Explode by 165% After Bullish Breakout – Is the Bear Market Over?

SUI’s price currently sits at $2.98 – a level it has not touched since March 6. Most cryptocurrencies are experiencing strong rallies but SUI stands out as it has booked gains more than two times higher than its competitors in the smart contracts space.

In the past day, Ethereum (ETH) and Solana (SOL) have seen gains of 11% and 8%.

Why exactly is SUI outpacing its rivals? Looking at some on-chain data, Sui’s daily transactions have surged by 63.6% since April 19 while Solana’s daily transaction volumes have only increased by 8.5%.

Sui’s Daily Transactions Grow Faster than Solana’s

Meanwhile, from a technical standpoint, Sui is a much more powerful network compared to Ethereum and Solana as it can process a higher volume of transactions per day (TPSs).

This has made it a target for investors who see it as the “Solana killer.” Although Ethereum is still the largest blockchain with the largest DeFi ecosystem and the most decentralized validators pool, Solana has been more successful at capturing top trends like meme coins.

Sui could emerge as the strongest rival, although its ecosystem has still not expanded to the point that it poses a threat to its rivals as its total value locked (TVL) stands at $1.5 billion while Solana’s TVL currently sits at more than $6 billion.

However, data from DeFi Llama indicates that Sui’s TVL has surged by 31% in SUI in 2025 while Solana’s TVL in SOL only expanded by 16% during this same period.

This is an indication that investors have been increasingly attracted to Sui’s ecosystem and spells trouble to Solana’s growth.

A New Bullish Cycle Has Started?

Looking at the daily chart, SUI has managed to distance itself significantly from its 21-day exponential moving average (EMA).

These strong bullish breakouts are typically confirmation of a trend reversal. Although the macro backdrop is still uncertain, President Donald Trump and a group of his aides made supportive comments that may have reassured the markets that they are paying more attention than initially thought to the impact of their policy changes.

Trump backpedaled on both the implementation of high tariffs and imposed a 90-day pause while he also denied that he would oust Jerome Powell from the Federal Reserve just days after he called him a “major loser” for not lowering rates.

As tensions ease, the market may feel that the macro outlook has improved to some extent.

Now that SUI has pushed through the $2.48 resistance, the next targets for the token stand at around $3.3 and $3.75. This translates into a 10% to 20% upside potential in the near term if the rally keeps going.

Momentum indicators have surged to their highest levels in months. The Relative Strength Index (RSI) has risen near overbought levels and has reached heights not seen since December last year when the market topped.

Meanwhile, the MACD’s histogram has been rising for three days in a row. This means a tectonic shift in momentum that has not been seen in many months and could be an early indication that the bear market is over.

The strongest trading volumes for SUI came in as SUI broke its 21-day EMA. This is another strong piece of evidence that the bear market could be over and SUI could be poised to rally in the next few months.

The most relevant resistance area based on an analysis of SUI’s yearly volumes stands at $3.5. If the price breaks above this level, this would suggest that a bull market has started for SUI as the market structure would change entirely.