After a steady 3% increase in just 24 hours, SUI has successfully overtaken Avalanche (AVAX) to secure the 11th position in global cryptocurrency rankings. While AVAX shows signs of weakness and Tron (TRX) experiences minimal growth, SUI finds itself in a favorable position to potentially break into the top 10 cryptocurrencies. However, the journey toward a $20 billion market cap will likely be a challenging and gradual process.

SUI’s Resilient Price and Volume Trends

Among the leading cryptocurrencies, SUI stands out with its consistently strong price action and impressive trading volumes. Since mid-2024, the platform’s volume levels have remained above average, fostering increased volatility and attracting significant interest from traders. This heightened activity has kept the market on edge, with many anticipating further bullish moves from the token.

Technical Indicators Signal Continued Uptrend

SUI is currently moving within a rising parallel channel—a bullish technical pattern characterized by disciplined and consistent upward trends. Indicators such as the Bollinger Bands suggest that the next bullish wave could be just around the corner, as the bands have expanded multiple times within this channel.

Additionally, the Relative Strength Index (RSI) further supports the bullish outlook. Remarkably, SUI’s RSI has stayed above its average line since August 2024, signaling sustained buying momentum and strengthening the case for continued growth.

Future Price Targets and Top 10 Ambitions

With its strong technical foundation, SUI is expected to test the upper resistance of its current channel. Market experts estimate the token’s next potential all-time high could reach $6.02 within the next week.

However, for SUI to break into the top 10 cryptocurrencies, it must achieve the significant milestone of $10. While this is a lofty goal, current momentum suggests that such an achievement could be within reach later this year, provided the market conditions remain favorable.

Conclusion

SUI has emerged as a promising contender in the cryptocurrency market, defying bearish trends and attracting significant investor attention. Its robust price action and bullish momentum indicate the potential for substantial gains ahead. As SUI targets the $10 milestone and aims to enter the top 10 rankings, the coming weeks will be crucial in determining its trajectory.