SUI Price Holds Support at $3, Eyes a Rally to $5

SUI price has held support at $3 despite a 19.7% drop from its August high. New partnerships and ecosystem developments, such as a recent acquisition of 20 million SUI tokens by SUI Group Holdings, could fuel a potential rally over $5. The total value locked in DeFi protocols on the SUI blockchain has climbed to $3.5 billion, and a partnership with TRM Labs could enhance security for builders, institutions, and users.

SUI price has held support at $3 despite a significant 19.7% drop from its August high. The resilience of the SUI token is bolstered by recent developments in its ecosystem, including a strategic acquisition by SUI Group Holdings. The total value locked in DeFi protocols on the SUI blockchain has climbed to $3.5 billion, and a partnership with TRM Labs could enhance security for builders, institutions, and users.

SUI Group Holdings, the only publicly traded company with an official relationship with the Sui Foundation, announced on Tuesday that it has added 20 million SUI tokens to its treasury, bringing its total holdings to over 100 million. This move signals institutional confidence in the SUI token and reduces the circulating supply, potentially increasing its demand and prices [1].

On-chain data highlight rising weekly transactions, with transactions reaching $47.9 million in the last week of August, the highest level since April [1]. This indicates renewed network activity and growing user participation.

Additionally, the launch of Phase 2 of tBTC on Sui is fueling optimism for the next wave of Bitcoin DeFi activity on the network. Phase 2 follows the strong adoption of Phase 1, where Bitcoin rapidly grew to account for 20% of Sui’s Total Value Locked (TVL) [1].

Despite the recent drop, SUI price is consolidating within a falling wedge pattern at around $3.34. A breakout of this pattern generally favors the bulls. If SUI breaks above the upper boundary of the wedge pattern and closes above the daily resistance at $3.65, it could extend the rally toward its July 28 high of $4.44 [1].

The Relative Strength Index (RSI) on the daily chart reads 44, nearing its neutral level of 50, indicating a fading of bearish momentum. The Moving Average Convergence Divergence (MACD) lines are also nearing each other with decreasing red histogram bars, suggesting a bullish crossover could happen in the coming sessions [1].

However, if SUI faces a correction, it could extend the decline to find support around its 50% price retracement level at $3.08.

In conclusion, while SUI has experienced a significant drop, recent developments and on-chain data suggest a potential rally over $5. Investors should closely monitor the token's price action and technical indicators for further insights.

References:
[1] https://www.mitrade.com/insights/news/live-news/article-3-1094415-20250904
[2] https://seekingalpha.com/article/4817772-fidelity-corporate-bond-fund-q2-2025-commentary