Sui (SUI), a fast-rising layer-1 blockchain, may be on the brink of a bullish reversal despite being down nearly 60% from its January all-time high. The price dip has coincided with strong growth in decentralized exchange (DEX) volume and promising technical indicators, setting the stage for a potential 60% rally in the near term.
Sui’s Bear Market Reversal in the Making?
Sui is currently trading at $2.66, with a market capitalization of $7.35 billion, marking a significant pullback from its $5.36 peak earlier this year. Yet, on-chain and technical indicators suggest that the worst may be over.
According to DeFi Llama, DEX trading volume on Sui has soared by over 70% this past week, reaching $1.95 billion—a new high for 2025. This surge has elevated Sui to the seventh-largest DEX ecosystem by weekly volume.
The rise in activity was led by:
- Cetus, with $1.2 billion in weekly volume
- Bluefin, which grew 62% to $483 million
- Additional contributions from DeepBook, Haedal, and Turbos
These gains indicate rising interest in Sui’s DeFi offerings, even as broader market sentiment remains mixed.
Network Fundamentals Remain Strong
Sui’s total value locked (TVL) has held steady at $1.26 billion, placing it as the ninth-largest blockchain by TVL. The network also hosts:
- $1.77 billion in bridged assets
- A $721 million stablecoin market cap
This consistency in TVL and growing user activity underscore a strong foundation for potential price recovery.
Bullish Technical Setups Point to Upside
From a technical perspective, SUI has formed a falling wedge pattern—a bullish reversal signal—on the daily chart. The token broke out of this wedge around March 21, leading to a rebound toward $2.8285, where it met resistance near the 50-day moving average.
More recently, SUI appears to be forming a double bottom around the $1.9690 level, further signaling a potential trend reversal. If the pattern holds and price breaks above the neckline at $2.8285, a confirmed breakout could push the token toward the 38.2% Fibonacci retracement level at $3.51, representing a 57% upside from current levels.
Final Thoughts
While Sui remains in a broader bear trend, the combination of explosive DEX volume growth, strong DeFi fundamentals, and bullish technical formations suggest that the token could be gearing up for a major recovery. If momentum continues and the broader market stabilizes, SUI could soon challenge higher resistance levels and reclaim its bullish trajectory.
