SUI price major bottom has just been spotted by veteran trader Peter Brandt. He shared this view on the weekly chart in an X post on May 11.
So, what does this mean? The bottom formed after a steep decline from $5 highs since last year. Now, the price is rebounding sharply.
SUI price jumps 20% as trading volume explodes
The token recovered from support near $0.90 . Over the last 24 hours, SUI rose more than $0.31 . On the weekly chart, the gain is almost 50%.
Furthermore, trading volume jumped 290% in just 24 hours. That is a massive surge.
Peter Brandt predicts that SUI price will “trend substantially higher from current levels” in the coming weeks.
The chart pattern and strong volume suggest a potential trend reversal. However, the price hit the 200-SMA on the daily chart. That triggered some profit booking.
Other analysts, including Ted Pillows and Crypto Tony, also expect a further rally.
SUI price major bottom gets help from new catalysts
The bullish technical signal is not alone. New developments on the Sui network are adding fuel.
Adeniyi Abiodun is the co-founder and Chief Product Officer at Mysten Labs. He announced plans to launch confidential transactions this year.
What does that mean? The Sui network will bring “free, private payments at scale” to the entire internet. Key features include zero‑fee stablecoin transfers and privacy tools that maintain full regulatory compliance.
After stablecoins, the plan will expand to stocks, bonds, real‑world assets (RWA), and other assets. This could drive more upside momentum for SUI.
More good news for Sui
In addition, Nasdaq‑listed Sui Group Holdings staked 108.7 million SUI tokens. That equals 2.7% of the circulating supply. As a result, SUIG stock jumped 11% to $1.79, according to Yahoo Finance.
Sui also plans to launch a prediction market. Users will be able to bet on any asset at any price with leverage. Plus, the recent launch of SUI futures on CME generated massive buzz in the crypto community.
