- SUI holds strong support at $3.16, signaling potential 44% rally toward $4.5.
- On-chain growth and DeFi activity strengthen long-term outlook with targets above $5.
- Coinbase Derivatives will launch SUI futures on October 20 to expand institutional access.
Sui Network is preparing for a major milestone as Coinbase Derivatives confirms a futures launch on October 20. The listing expands Coinbase’s product range and introduces new ways for traders to engage. Futures contracts could attract institutional investors, boosting liquidity and volume for the token. At the same time, SUI’s price action holds firm above a key trendline. Analysts now suggest another rally may follow, making this month pivotal for the project’s trajectory.
Technical Setup Points to Potential Upside
At press time, SUI was trading at $3.16, hovering above its ascending support trendline. This line has already played a crucial role this year. In April, the token bounced from this level and soared 121%. The pattern repeated in July, when a similar rebound fueled an 81% rally. Traders are now watching a third act in this price drama. If the trendline holds, analysts see a possible 44% climb from current levels. The first target sits near $4.50, a resistance zone tested during earlier rallies. Beyond that, Fibonacci retracements highlight longer-term levels at $5 and $7.5.
A cup-and-handle pattern supports this bullish outlook, hinting at stronger gains ahead. Whales seem to agree with this view. Buying activity has emerged during recent consolidations, reflecting confidence in a recovery. The market’s appetite for risk remains, with traders absorbing sell pressure near the support line. Each bounce so far has carried momentum like a spring loaded with potential energy.
Futures Launch Could Boost Liquidity
Coinbase Derivatives plans to debut SUI futures on October 20. Futures contracts typically bring larger traders into the market. Institutions use these instruments to hedge or speculate with leverage. Historical data suggests such listings increase trading volume by around 40% within 24 hours. Liquidity benefits extend beyond institutions. Retail participants gain deeper markets and reduced slippage on larger orders.
Better execution encourages more active participation and positions SUI as a stronger contender in the layer-1 race.Meanwhile, the Sui blockchain continues to expand. Transaction volumes and active addresses climbed more than 30% last quarter. Total value locked in DeFi protocols has passed $500 million. NFT platforms and decentralized applications contribute to this growth, reinforcing the network’s appeal.
Market sentiment will also become clearer after the launch. Futures basis readings will reveal whether traders expect higher or lower spot prices. Strong demand for contracts could signal broader belief in SUI’s upside potential. For now, SUI stands at a crossroad. The token trades near key support, a level that previously fueled explosive rallies. Coinbase’s futures launch promises deeper liquidity and wider institutional involvement.
