Veteran trader Peter Brandt flagged a major weekly bottom on Sui (SUI) as the token jumped more than 20% to $1.31 in 24 hours.
Brandt Spotlights SUI Bottom
Brandt posted on May 11 that SUI had carved out a "major bottom" on its weekly chart, per CoinGape. The call followed a steep slide from highs near $5 over the past year.
SUI rebounded from support near $0.90, gaining roughly 50% on the week. Trading volume jumped 290% in a single day.
Brandt said the price "will trend substantially higher from current levels," based on his weekly chart read.
The token cooled slightly after tagging the 200-day simple moving average, according to BlockchainReporter. Analysts including Ted Pillows and Crypto Tony echoed the bullish read.
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Why Analysts See More Upside
Two fresh catalysts sit behind the move. Adeniyi Abiodun, Mysten Labs co-founder, said at Consensus 2026 that Sui will launch zero-fee stablecoin transfers and confidential payments this year.
Abiodun said the network has settled over $1 trillion in stablecoin volume since August, framing Sui as a default rail for moving money.
Privacy features will later extend to stocks, bonds and tokenized real-world assets, he added.
The second catalyst is institutional. Nasdaq-listed Sui Group Holdings (SUIG) holds 108.7 million SUI as of May 4, with most of the stack staked and generating roughly 5,200 SUI a day in yield, the firm disclosed in its Q1 earnings call. That position equals about 2.7% of circulating supply.
SUI has whipsawed for months before this week's breakout. The token slid from $2 in early 2026 to test $0.80 in February, then chopped between $0.85 and $1.05 through April. A January mainnet stall and a separate outage in late 2024 weighed on sentiment before this week's rotation reset the chart.
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