Currently, the price movement of SUI is displaying a similar trend to that seen in April 2024, indicating possible future price changes. SUI seems to be approaching a critical support level around $3, a behavior it has exhibited in the past by reaching this point and then rebounding.
An examination of SUI reveals a sharp increase followed by a gradual decrease, forming a pattern that suggests volatility with significant fluctuations in both directions.
If SUI continues to follow this historical pattern, it is likely to decrease towards $2 or below before any signs of a potential reversal emerge.
The price chart of this altcoin reinforces this analysis, showing a sharp rise followed by a decline, now nearing a crucial point around the $3 mark.
A breakdown below this level could confirm a bearish trend, leading to further declines towards $2 or lower. On the other hand, if the price stabilizes or bounces back from this point, it could indicate the beginning of a recovery phase, similar to previous market rebounds.
If SUI breaches the $3 support level, it could result in new lows, whereas maintaining above it could suggest an upcoming reversal and a possible surge past the $5 mark.
SUI’s Overall DEX Trading Volume and User Base
The decentralized exchange (DEX) trading volume for SUI has experienced significant growth, hitting a total of $61 billion by 17 February. This marks an 18.89% increase over the last month, showcasing heightened trading activity and increased market participation.
It is noteworthy that the volume has steadily risen from below $20 billion in May 2024 to its peak in February 2025. This surge indicates a growing interest from investors in SUI, possibly driven by favorable market conditions or positive developments within the ecosystem.
The consistent growth in DEX trading volume, especially the notable surge in recent months, suggests an expanding liquidity pool. This is vital for ensuring the sustainability of trading operations on decentralized platforms.
The surge in trading volume resulting in high liquidity could attract more investors, potentially leading to price stabilization or upward movements due to improved market efficiency.
Furthermore, SUI has surpassed 55 million total accounts, with an increase of 703,475 accounts in just 24 hours. This rapid expansion hints at strong user adoption, which could enhance the network’s value, promoting more activity and increased demand for SUI transactions.