Sui Price Tests Critical Support – Will It Break Above $5.3?

Sui Price Action: Is a Bullish Rebound on the Horizon?

Sui Price Tests Critical Support – Ahead of the release of Wednesday’s CPI data from the U.S. Bureau of Labor Statistics, the altcoin market, led by XRP and Sui (SUI), recorded mild gains. After a significant liquidation in the past few days, the leveraged crypto futures and spot market have cooled down, setting the stage for a potential rebound in the coming days.

Sui Price Performance and Support Zone

After hitting its all-time high (ATH) of approximately $5.3 earlier this year, Sui’s price has been trapped in a falling channel. However, in the last two days, the large-cap altcoin has rebounded from the lower border of this falling logarithmic trend. Sui, with a fully diluted market cap of about $22 billion and a 24-hour average trading volume of around $1 billion, has been retesting a critical support range between $2 and $2.39. This support range will play a pivotal role in determining the altcoin’s price direction over the coming weeks. A potential bullish macro rebound will be confirmed if Sui can consistently close above its ATH of $5.3.

Sui Network Growth and Potential Spot ETF

The Sui network has emerged as a thriving DeFi ecosystem, with a total value locked (TVL) exceeding $1 billion and a stablecoin market cap of over $638 million. Moreover, web3 projects built on the Sui network raised a substantial $200 million in the first three months of 2025, signaling strong investor confidence. This growth has sparked increased interest in the potential for a Spot Sui ETF in the U.S.

While the VanEck fund manager has already launched a Sui Exchange Traded Note (ETN) on Deutsche Börse and Euronext, the success of the ETN could pave the way for other fund managers, such as Canary Capital, to file for a spot Sui ETF soon, further fueling market interest in the Sui ecosystem.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.