Sui (SUI) has been struggling to shake off a correction phase since the start of 2025, with its decline accelerating after Donald Trump’s second inauguration as U.S. President. The large-cap altcoin, valued at around $22.8 billion, sees massive daily trading volumes of roughly $889 billion, yet its price has tumbled over 32% in the past four weeks.
But could a turnaround be on the horizon?
Recent price action suggests signs of recovery, with SUI climbing about 5% in the past week. As of Tuesday, March 18, during the early New York session, it was trading around $2.28.
Now, all eyes are on a key resistance level that could determine whether SUI is gearing up for a breakout – or facing more downside ahead.
From a technical perspective, SUI has been in a long-term uptrend over the past two years, forming higher highs and higher lows. Over the last two weeks, it has been retesting a key resistance level from April 2024, which was previously broken in October 2024.
Crypto analyst Ali Martinez suggests that SUI is nearing a breakout point, forming an ascending triangle pattern on the 1-hour chart. If the price consistently closes above $2.4, it could trigger a rally toward $2.89.
On the downside, if SUI closes below $2.2, the bullish setup would be invalidated, possibly leading to a deeper drop below $2.
Beyond price movements, Sui’s network is growing into a thriving Web3 ecosystem. It now hosts several DeFi protocols, including Suilend, NAVI, Cetus AMM, and Haedal.
Currently, the Sui network holds over $1.1 billion in total value locked (TVL), while its stablecoin market capitalization stands at around $654 million. This steady growth strengthens SUI’s long-term potential, despite recent price fluctuations.
Volatility may be the name of the game, but Sui’s long-term play is looking more solid by the day.
Yes, the SUI blockchain is one of the most prominent projects and is projected to gain significant value in the coming time.
As per our latest Sui price analysis, the SUI could reach a maximum price of $178.84.
By 2050, a single SUI price could go as high as $1,107.73.
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