Sui Price Reversal in Play: Can It Reach $3 Resistance?
Key Insights:
- SUI showed an inverse head and shoulders pattern, signaling a potential bullish reversal.
- The token ranked third in monthly active addresses, highlighting increasing adoption.
Sui (SUI) price made strong support around $2 and displayed signs of accumulation. Amidst multiple attempts, the bear army failed to break the support zone and might see a reversal in the coming sessions.
At press time, SUI crypto traded at $2.21, noting a decline of over 2.19% in the past 24 hours. Its market cap stood at $7.18 billion and ranked 17th in the crypto market.
Sui Price & Blockchain Resilience: Adoption Gains Momentum
SUI ranked as the third-highest blockchain in April 2025, showcasing its strength and adoption. With 1.6 million monthly active addresses, Sui price reflected its growing prominence in the market.
Data indicates SUI takes position number three after Solana (95.7 million) and NEAR (42.7 million). At the same time, it surpassed BASE, BNB Chain, and APT.
SUI crypto showcases its blockchain resilience by operating as a robust network. This strength is attributed to its growing market-wide adoption and rising significance.
SUI Ecosystem Flourishes as Momentum DEX Gains Traction
SUI platform continues to experience advancements in user engagement together with higher platform activity levels. Trading via Momentum DEX provides more options to users. On the other hand, Telegram’s wallet supports over 100 million users in executing SUI transactions efficiently.
These updates enable broader accessibility of SUI and enhance the overall user interface. SUI ecosystem continues to expand by developing projects that include Walrus and Phantom.
The network is actively advancing its security development efforts. This ensures minimal risk for transactions within the ecosystem.
SUI ecosystem showed potential for additional expansion. This is due to recent security improvements and integration updates. These changes are expected to make the platform more appealing to users and investors.
Sui Price Prediction: Can SUI Bounce Toward the $3 Mark?
A recent post by CryptoBusy highlighted that Sui price hovered near its critical demand zone of $2. It also emphasized how the price respects the cluster, indicating potential stability in this range.
It forms a descending triangle pattern and makes a strong base around the $2 mark. A reversal could be in play once it bounces back from there, fueling a recovery toward the $3 mark.
Ali Charts pointed out that the 30-minute time frame analysis of SUI crypto revealed an inverse head and shoulders pattern. This technical setup is often seen as bullish, indicating a potential upward breakout.
The inverse head and shoulders pattern typically suggests a reversal from a downtrend. Crossing this resistance would confirm a potential upward momentum. As a result, Sui price could experience further gains if this breakout occurs shortly.
What Does Derivatives Market Data Suggest
Amidst the intraday price decline of over 2.19%, the Open Interest (OI) surged over 4.30%. This highlighted that fresh shorts have been added. The Seller Army anticipated further price declines and has made fresh, short positions.
However, the OI-weighted funding rate turned positive at 0.0078%. This highlighted a significant demand for the long positions.
Traders need to keep a close eye on the critical support zone of $2, followed by $1.80. At the same time, the resistance zones for SUI crypto were $2.50 and $3.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
