SUI Surges Amid Market Decline with Trump-Linked DeFi Partnership

The Layer-1 blockchain token SUI has bucked the recent trend of market downturns, increasing by 4% in the last 24 hours, emerging as one of the leading cryptocurrencies.

This price increase comes on the heels of an announcement that World Liberty Financial (WLFI), a decentralized finance (DeFi) platform connected to US President Donald Trump, has finalized a strategic reserve agreement with the Sui network.

SUI's Uptrend Gains Momentum

On March 6, a blog post from the Sui Foundation revealed that the development team behind Sui has partnered with WLFI to explore product development opportunities. This collaboration aims to integrate Sui’s assets into WLFI's “Macro Strategy” reserve.

As a result of this partnership, SUI's price soared into double digits, reaching a peak of $3.11 on Thursday. This surge was further propelled by the news that Canary Capital has filed to create a trust entity in Delaware for a proposed ETF centered around SUI.

Despite a slight corrective phase, SUI has maintained steady demand over the past day, increasing the chances of a sustained upward trajectory in the near term.

The Balance of Power (BoP) on SUI’s daily chart corroborates this buying pressure, currently standing at 0.18, indicating that bulls are outpacing bears.

As the BoP rises during a price surge, we can deduce that bullish forces are becoming stronger, suggesting that SUI's upward momentum could potentially persist if demand remains elevated.

Additionally, SUI's Chaikin Money Flow (CMF) reflects a bullish sentiment, with the indicator's current value at 0.02, marking a positive cash flow into the asset.

This CMF structure indicates that there is a greater influx of capital into SUI's markets than the outflow, signaling accumulation and reinforcing a positive outlook for potential price appreciation.

SUI Faces Key Decision Point

Currently trading at $2.79, SUI is slightly below a critical resistance level at $3. If demand continues to rise, SUI could breach this resistance, establishing it as a new support threshold.

A successful breakout could see the price challenge its all-time high of $5.35, last hit on January 6.