Sui Price Shows Signs of Recovery Amid Improved Liquidity and Investor confidence
Sui’s price is hovering around $2.82, showing a 3.6% increase in the past 24 hours. This suggests a potential recovery after a volatile week. Despite this, SUI is still 47% below its January high of $5.35.
Trading activity has slowed, with daily volume at $1.78 billion, down 29% from the previous day. However, the drop in futures volume and rise in open interest indicate traders are quietly opening new positions, signaling growing anticipation.
Stablecoin growth is boosting Sui’s fundamentals. The network’s stablecoin market cap surged 19% to $1.1 billion in a week.This growth reflects increased trust in Sui’s decentralized finance ecosystem.
On October 9,the network’s total value locked hit a new high of $2.63 billion. Decentralized exchange trading volume also reached $7.92 billion, up from $4.8 billion the previous week. These figures suggest increased participation from both institutional and retail investors.
A key progress came on October 14 when Sui partnered with Figure Technology Solutions to bring YLDS, a yield-bearing and SEC-registered stablecoin, onto the network. This integration allows users to convert assets like USDC into yield-generating tokens via DeepBook,Sui’s decentralized trading platform.
Sui’s roadmap includes two native stablecoins, suiUSDe and USDi, expected to launch by 2025. These will use Ethena’s infrastructure and BlackRock’s tokenized money market fund.
Technically, SUI’s daily chart shows early signs of stabilization.
For SUI to see a prolonged decline,early signs of stabilization are visible. The relative strength index is near 39, indicating the token is approaching oversold conditions. While short-term momentum is positive, the MACD remains in negative territory, suggesting bearish pressure.
Key resistance levels include the 10-day EMA at $3.00 and the 20-day EMA at $3.16. The 200-day SMA near $3.29 is a longer-term resistance. If SUI holds above $2.60, it may move toward the $3.10–$3.20 range. A break above $3.35 could lead to a move toward $3.80, while a fall below $2.45 might test support near $2.20.
