Peter Brandt: "Sui Has Bottomed Out and Is Ready to Rise 40%"

▲ Sui (SUI) Network/Source: X

Sui (SUI) has surged over 40% in a week, emerging as a clear bullish asset in the cryptocurrency market. Sui strongly broke through a downward trend that had continued for several months, showing an exceptional rally in a market where major altcoins are confined to a price range.

U.Today reported on May 11 (local time) that veteran trader Peter Brandt, who has been active in the commodities market for over 40 years, described Sui's recent surge as a “major bottom.” Brandt posted a bullish chart on X (formerly Twitter), stating that Sui would trend significantly higher from its current price level.

Sui has risen over 40% in the past week, with an intraday surge of up to 25%, breaking a downward trend that had persisted for several months. U.Today stated that while major cryptocurrencies like Ethereum, Solana, and XRP remain within multi-month sideways trading ranges, Sui has emerged as a clear exception.

After rising to $5 in early 2025, Sui was trapped in a steep downtrend for nearly a year. In late 2025 and early 2026, its price formed a prolonged bottom below $1 and received little market attention along with other altcoins. However, the recent formation of a large weekly bullish candle has been evaluated as a key signal increasing the possibility of a trend reversal.

Technically, Sui has now surpassed its 10-period simple moving average, which is located around $0.95. U.Today pointed out that it is crucial for Sui to establish a weekly close around $1.35. However, it explained that for the downtrend to be definitively over, buying pressure must firmly establish a base above that price level.

Sui is still approximately 75% below its all-time high of $5.35 recorded about a year ago. Nevertheless, with the recent surge, the breakthrough of the moving average, and Brandt's bullish remarks, market attention is focused on whether Sui can break out of its long-term downtrend.

Positive news related to the Sui ecosystem has also emerged. Nasdaq-listed Sui Group Holdings recently announced that it is staking virtually all of its corporate assets. The company locked up 108.7 million SUI, which is estimated to have significantly reduced liquidity supply in the open market.

Nigerian fintech company Paga announced a partnership with the Sui blockchain to launch tokenized assets. However, the Sui ecosystem experienced a shock last year when its largest decentralized exchange, Cetus Protocol, suffered a hack, resulting in the outflow of approximately $223 million from its liquidity pool.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*