Veteran Trader Peter Brandt Calls 'Major Bottom' for SUI

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Are bulls finally out of the woods? An enormous token stake Advertisement 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. HOT Stories Veteran Trader Peter Brandt Calls 'Major Bottom' for SUI 3 Reasons Why Hyperliquid (HYPE) $50 Rally Failed, Bitcoin (BTC) Has No Fuel Left, Toncoin (TON) Critical Market Correction Begins: Crypto Market Review 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. Advertisement 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. Advertisement You Might Also Like Thu, 03/12/2026 - 14:52 75% Plunge in Cryptocurrency Development Activity: Did Everyone Pivot to AI? By Arman Shirinyan 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. #Sui Network #SUIUSD #Peter Brandt