By Bardil 
Former Goldman Sachs executive RAOUL PAL has identified a potential breakout opportunity for Sui (SUI), a prominent competitor to Solana (SOL). Pal, a respected figure in the crypto space, highlighted Sui’s bullish signals using the Tom DeMark (TD) Sequential Indicator, a tool traders rely on to predict trend reversals.
The TD Sequential Indicator suggests that Sui is on the verge of breaking out of a downward channel, a bearish pattern characterized by lower highs and lower lows. Pal described the situation with a poetic nod, stating, “Sui: knock, knocking, knocking on heaven’s door.”
Other analysts are echoing Pal’s sentiment. Pseudonymous trader CHEDS noted that if Sui breaches its immediate resistance, it could trigger significant rallies. “$2.50 overhead is a long trigger,” Cheds remarked.
Similarly, crypto trader MICHAËL VAN DE POPPE highlighted Sui’s growing adoption in decentralized finance (DeFi), particularly in Bitcoin DeFi (BTCfi). Van de Poppe explained, “Once the markets turn back into an uptrend, money will flow back into the strongest performers. SUI is one of them.” He added:
- BTCFi is growing rapidly, with 10% of Total Value Locked (TVL) flowing through SUI.
- SUI’s DeFi ecosystem ranks among the top six chains.
- SUI has facilitated nearly $6 billion in trading volume on DeFi in the past month.
Adding to the optimism, financial giant VANEK predicts Sui could surge over 358% from its current value. VanEck foresees the crypto bull market continuing into 2025, projecting Bitcoin at $180,000, Ethereum above $6,000, and Sui potentially exceeding $10.
At the time of writing, SUI is trading at $2.18, marking a 4% increase in the last 24 hours.
Sources: Raoul Pal/X, Cheds/X, Michaël van de Poppe/X, VanEck