Sui Climbs 4.43% as Traders Eye Next Resistance Level at $1.27

Sui (SUI) experienced a 4.43% increase, reaching $1.23 on October 5, 2026. Analyst Ali Martinez highlighted $1.27 as the next key resistance level, suggesting that an hourly close above this mark could signal further bullish momentum. The token's recent performance has been closely watched, with traders focusing on the potential for another breakout after a series of parallel consolidation channels.

Mysten Labs co-founder Adeniyi Abiodun emphasized Sui's role as a payment infrastructure, aiming to replace traditional systems like SWIFT. The network has processed over $1 trillion in stablecoin transfers since August 2025 and introduced gasless transfers for supported stablecoins. Payment firm Daya and RedotPay have also integrated Sui, expanding its reach in Africa. Additionally, Google listed Mysten Labs among collaborators for AP2, an open protocol for AI-driven payments.

Analyst Celal Kucuker noted the formation of a bull flag pattern, suggesting that a breakout in October could push SUI towards $2. He also mentioned a longer-term target above $10 in a future bull market. Despite these optimistic forecasts, Sui's total value locked (TVL) has seen a decline, currently standing near $550 million, with stablecoin market cap close to $482 million. The network recorded about 25.3 million transactions in the latest 24-hour period.