Sui (SUI), an emerging Layer 1 blockchain, is a standout asset in the crypto market as of July 10, 2025. The current price of SUI is approximately $2.89, reflecting a 3.8% gain over the past 24 hours, signaling strong bullish momentum. This price action aligns with surging stablecoin liquidity, institutional activity, and ecosystem development. Technical analysis indicates that SUI, after breaking a falling wedge pattern in early July, is moving within an ascending channel on the daily chart. The 2.87 level has served as a critical support, preventing further declines. Conversely, the 2.96–3 range is a strong resistance zone. A breakout above this resistance could propel SUI toward 5 by late July 2025, particularly if daily trading volume exceeds the 20-day average by 35%. The RSI at 49.99 suggests room for growth without entering overbought territory, while a bullish MACD crossover supports further upside potential. Fundamentally, the remarkable growth of stablecoins on Sui’s network, with a market cap reaching 1.1 billion, has bolstered network liquidity and demand. This surge reflects growing confidence in Sui’s infrastructure for DeFi and NFT applications. Additionally, a recent 600 million treasury investment by a financial group has strengthened institutional confidence in Sui. The integration of Bitcoin-pegged assets like tBTC into the Sui network has added over $500 million in Bitcoin liquidity, expanding its DeFi utility. However, risks persist. SUI’s futures trading volume has exceeded 400 million, indicating high speculative activity that could lead to volatility. Analysts warn that a break below the 2.87 support could trigger a correction to 2.6 or even 2.3. Competition from other blockchains like Solana and Ethereum also poses challenges. Nevertheless, Sui’s recent initiative to enhance ecosystem security following past issues has improved investor confidence. From a macro perspective, a 54% increase in developer activity over the past two years and a total value locked (TVL) of $2.1 billion position Sui as a major Layer 1 contender. Speculation around an 80% likelihood of ETF approval, combined with a 70% correlation with Bitcoin, reinforces a bullish outlook. Investors should remain cautious of regulatory risks and market volatility, but combining technical analysis with on-chain data can enhance decision-making.