SUI price rose 7.11% over the past 24 hours to $1.12 after Sui Network introduced gasless stablecoin transfers, dropping fees on supported assets to $0.00, boosting trading volume by 48.46% to $734.6 million. The price ranged from $1.04 to $1.15, but the daily close at $1.06 is more important than the session’s highs and lows.
SUI Price Faces Key Test at $1.06
Crypto analyst 2xnmore explained that sellers stepped in at $1.40, which matches the 200-day moving average, and stopped the breakout.
SUI price has dropped back to $1.06, which was the top of its six-week consolidation range before the recent move. If the daily close stays above $1.06, the next targets are $1.27 and then $1.40. If it closes below, the price could fall to the $0.85 support. The 200-day moving average remains a key level SUI coin has not reclaimed, and it continues to trend downward.
On TradingView, 10 of 12 daily moving averages are below the current price, suggesting a buy signal. The 50-day SMA at $0.9890 and the 100-day SMA at $0.9639 provide deeper support if $1.06 does not hold. However, the 200-day EMA at $1.3980 and the 200-day SMA at $1.2614 are above the price, signaling a sell and matching the unreclaimed 200-day moving average.
Van de Poppe takes a longer-term view on Sui, noting a bullish divergence on the BTC pair and that the mean reversion after the breakout is going as expected. He sees the current price as being in a real accumulation zone. Both analysts agree that as long as the divergence holds and $1.06 does not close below, the outlook remains positive.
Gasless Transfers Launch as Sui Builds on $1T Stablecoin Foundation
The increase in price and trading volume today has a clear cause. Sui launched gasless stablecoin transfers at the protocol level, making fees on seven assets ($USDsui, $SuiUSDe, $AUSD, $FDUSD, $USDB, $USDC, $USDY) drop to $0.00.
This was made possible by the launch of Address Balances on Sui Mainnet, and Fireblocks has supported the rollout from the start.
Adeniyi Abiodun, Co-Founder and CPO of Mysten Labs, described it as eliminating blockchain payments’ biggest barrier. Ran Goldi, SVP Payments & Network at Fireblocks, pointed to enterprise treasury flows and on-chain payment infrastructure as the direct beneficiaries.
In March, Sui reached $1 trillion in total stablecoin volume. This comes after a 78.82% price drop from its all-time high of $5.35 in January 2025, but it is still 211.15% above its all-time low of $0.3643 from October 2023.
As of now, gasless stablecoin transfers are being rolled out on Sui Mainnet and are waiting for validator upgrades.
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