Analyst: SUI price increased by 40% today, reaching a four-month high of $1.41

CryptoWorld News reports that the price of SUI has risen by nearly 40% today, reaching $1.41, making it one of the best-performing major cryptocurrencies on Monday. The current price is holding steady at $1.27, nearly 35% higher than its value three months ago. Several factors have driven SUI’s price to break above $1, including a bullish breakout from a symmetrical triangle pattern on the daily chart. SUI Group Holdings, listed on Nasdaq, transferred 108.7 million SUI tokens (about $143 million) into the network for direct staking, reducing the circulating supply of SUI by roughly 2.7%. In addition, Adeniyi Abiodun, co-founder of Mysten Labs, revealed at the 2026 Consensus conference that the SUI network will roll out confidential transactions and fee-free stablecoin transfer capabilities later this year. Meanwhile, the surge in SUI’s price triggered liquidations of about $3.13 million, nearly 90% of which came from short positions—forcing short sellers to cover and further pushing the price higher. Several market analysts have confirmed that SUI formed its weekly bottom on May 11 and expect the token to see significant gains in the upcoming trading sessions.