Former Goldman Sachs executive RAOUL PAL has identified a Solana competitor, SUI, as a potential candidate for a significant breakout. In a recent analysis shared with his 1.1 million followers on X, Pal highlighted the bullish signals from the Tom DeMark (TD) Sequential Indicator for the layer-1 blockchain platform SUI.
The TD Sequential Indicator, a tool used by traders to predict potential trend reversals, 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 remarked, “Sui: knock, knocking, knocking on heaven’s door.”
Other analysts have echoed Pal’s optimism. Pseudonymous trader CHEDS noted that if SUI breaks through its immediate resistance, it could trigger significant rallies. “$2.50 overhead is a long trigger,” he stated.
Meanwhile, crypto trader MICHAËL VAN DE POPPE emphasized SUI’s growing adoption in decentralized finance (DeFi), particularly in Bitcoin staking and lending (BTCfi). He pointed out that SUI is bouncing off a key support level on the three-day chart. “Once the markets turn back into an uptrend, the money will flow back into the ones that have shown strength. SUI is one of them,” he said. Van de Poppe highlighted SUI’s impressive metrics, including:
- BTCFi accounting for 10% of Total Value Locked (TVL) on SUI.
- DeFi on SUI ranking among the top six chains.
- Nearly $6 billion in trading volume on DeFi in the past month.
Adding to the bullish sentiment, financial giant VanEck predicted that SUI could surge more than 358% from its current value. In their 2025 crypto market outlook, VanEck stated, “We believe the crypto bull market will persist through 2025, reaching its first peak in the first quarter. At the cycle’s apex, we project Bitcoin to be valued at around $180,000, with Ethereum (ETH) trading above $6,000. Other prominent projects, such as Solana and Sui, could exceed $500 and $10, respectively.”
At the time of writing, SUI is trading at $2.18, up 4% in the last 24 hours.
Sources: Raoul Pal/X, Cheds/X, Michaël van de Poppe/X, VanEck