Sui Cryptocurrency Rebounds 5% Amid Market Volatility

Sui (SUI) has recently shown signs of a potential trend reversal after completing a corrective phase. The cryptocurrency has been navigating a challenging market landscape since early 2025, but recent technical analysis suggests that it may be poised for a recovery. SUI experienced a significant correction of over 32% in the past four weeks, coinciding with broader market reactions following U.S. President Donald Trump’s second inauguration in January. Despite these headwinds, SUI has shown resilience by rebounding 5% over the past week.

Technical analysis reveals that SUI has formed a five-wave impulsive structure that peaked at $5.35 on January 6. Following this peak, the price entered an ABCDE correction within a descending wedge pattern. The 4-hour chart shows price action stabilizing near the 0.618 Fibonacci retracement level at $2.31. This level represents a critical support zone that could serve as the foundation for a potential reversal. The Relative Strength Index (RSI) on the 4-hour timeframe is attempting to recover from oversold conditions, suggesting that selling pressure may be waning and creating conditions for a possible upward move.

SUI has been retesting a major resistance point from April 2024 over the past two weeks. This level was previously broken in October 2024, and the current retesting phase could be preparing the way for another breakout. An ascending triangle pattern has formed on the 1-hour chart, which often precedes breakouts when the price consistently closes above a key level – in this case, $2.4. If SUI successfully breaks above $2.4, a rally toward the next key resistance at $2.89 could follow. This level aligns with the 0.5 Fibonacci retracement from the broader downtrend and would validate the bullish scenario.

However, caution is warranted as a drop below $2.2 would invalidate the bullish setup. Such a move could trigger a deeper correction toward $2 or lower, with $1.48 (0.786 Fibonacci) acting as the last major support. Looking at the Elliott Wave structure, a five-wave sequence was recently completed at $2.50. This suggests that a corrective (a)-(b)-(c) pullback may occur before a renewed uptrend can begin. During this pullback, the price may retrace toward the $2.31 level before forming a higher low. If this support holds, the next impulsive wave could target the $2.89 region.

A successful breakout above $2.89 would open the door to higher targets. The 0.382 Fibonacci level at $3.47 would then become the next major resistance to watch. While short-term price movements capture most attention, SUI’s long-term fundamentals continue to strengthen. The network has developed a robust Web3 ecosystem hosting several DeFi protocols including Suilend, NAVI, Cetus AMM, and Haedal. The total value locked (TVL) in Sui’s ecosystem has reached over $1.1 billion. This achievement highlights growing interest and confidence in the network’s capabilities and future potential.