SUI Surges 31% After Coinbase Approval for New York Trading

SUI Market Surge and Developments

Sui (SUI) experienced a 31% price surge, breaking out amid stagnant large-cap altcoins.
Coinbase approved SUI trading for New York residents, enhancing its market presence in a regulated environment.
A major token unlock worth $82–86 million increased supply by over 0.5%, yet demand remained strong, driving prices up.
Trading volume doubled to approximately $1.5 billion, indicating genuine interest and accumulation.
The introduction of USDsui, a fiat-backed stablecoin, further boosted market confidence and interest in Sui's ecosystem.

Technical Indicators and Market Outlook

SUI rebounded from November lows, surpassing the $1.60 support zone.
Technical indicators such as RSI and MACD suggest reduced selling pressure and potential momentum shift.
Resistance levels are identified between $1.80 and $1.95, with critical levels at $1.92 for trend reversal confirmation.
If trading volume stays above $1.5 billion and supports hold, SUI could reach $1.90. A decline below $1.48 may indicate a local top.
Overall sentiment remains positive due to enhanced U.S. market access, favorable technical trends, and ecosystem growth.