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Veteran Trader Peter Brandt Calls 'Major Bottom' for SUI
TL;DR
SUI token has surged over 40% in a week, with veteran trader Peter Brandt declaring it has reached a 'major bottom' and will trend higher.
Key points
- SUI token surged over 40% in one week
- Peter Brandt declares SUI has reached a major bottom
- Brandt expects SUI's price to trend substantially higher
- SUI is outperforming Ethereum, Solana, and XRP
Mentioned in this story
Peter Brandt
The Layer-1 blockchain token SUI is hogging up the spotlight after surging by more tha 40% within just one week and emerging as a clear outperformer.
Legendary commodity trader Peter Brandt, who boasts more than 40 years of experience in this sector, recently weighed in on the massive rally. He is confident that the asset has bottomed out.
"This is a major bottom. Price will trend substantially higher from current levels," Brandt said in an X statement accompanying his bullish price chart.
This is a major bottom. Price will trend substantially higher from current levels$SUIUSDT pic.twitter.com/YS2iiWpKyJ
— The Factor Report (@PeterLBrandt) May 10, 2026
In the meantime, heavyweights like Ethereum (ETH), Solana (SOL), and XRP are all currently stuck trading within their multi-month consolidation structures. SUI is the clear outlier here.
Are bulls finally out of the woods?
SUI peaked at $5.00 in early 2025 and then spent the better part of a year trapped in a rather grueling downtrend.
By late 2025 and early 2026, the price had completely capitulated. The token just kept grinding along a painful bottom well below the $1.00 mark, and it was hardly on anyone's radar since it just kept languishing together with other altcoins.
However, the massive green weekly candle that SUI has just printed is on track to be a game-changer.
The token has surged above the 10-period Simple Moving Average (SMA), which is currently sitting at $0.95.
Closing the week near the $1.35 range is rather crucial for the token. It is safe to say that the downtrend is pretty much over.
An enormous token stake
Recently, Nasdaq-listed Sui Group Holdings (SUIG) announced it was staking "substantially all" of its corporate holdings.
The firm locked up an immense 108.7 million SUI tokens. This has removed an enormous chunk of liquid supply from the open market.
On top of that, Nigeria-based fintech firm Paga announced a partnership with the Sui blockchain to launch tokenized assets.
Last year, the ecosystem faced a very harsh predicament after Cetus Protocol, the largest decentralized exchange (DEX) on the Sui blockchain, suffered a devastating hack. As a result of the incident, roughly $223 million was drained from its liquidity pools.
Q&A
What did Peter Brandt say about the SUI token's price trend?
Peter Brandt stated that SUI has reached a 'major bottom' and expects its price to trend substantially higher.
How much has the SUI token increased in value recently?
The SUI token has surged by more than 40% within just one week.
How does SUI's performance compare to other cryptocurrencies like Ethereum and Solana?
SUI is outperforming other cryptocurrencies like Ethereum, Solana, and XRP, which are currently in multi-month consolidation phases.
