Sui Token Faces Bearish Pressure, But Bullish Signs Emerge
Sui (SUI), a rapidly developing layer-1 blockchain, has seen its price plummet nearly 60% from its January peak.As of Friday, SUI was trading at $2.66, with a market cap of over $7.35 billion. Despite the downturn, there are signs of a potential bullish reversal.
DeFi Llama reports that sui’s decentralized exchange (DEX) ecosystem performed exceptionally well this week. Protocols processed over $1.95 billion in volume, a 70% increase from the previous week. This surge propelled Sui to the seventh-largest DEX network by weekly volume in 2025.
- Cetus led with a 70% increase to nearly $1.2 billion in weekly volume.
- Bluefin saw a 62% jump to $483 million.
- DeepBook, Haedal, and turbos also performed well.
Sui’s total value locked has remained steady at $1.26 billion, ranking it ninth by TVL. Bridged assets are valued at $1.77 billion, and the total stablecoin market cap is $721 million.
Technically, SUI has been in a downtrend sence its all-time high of $5.3647 in January. It bottomed at $1.9690 in March. The token has formed a falling wedge pattern, a bullish reversal setup. A breakout occurred around March 21,followed by a rebound. SUI is now forming a double-bottom pattern around $1.9690.
If the double bottom holds,SUI may drop back to $1.9690 before resuming its uptrend. A breakout above $2.8285 would confirm the pattern, potentially leading to a rally toward $3.51, about 57% higher than the current price.
