SUI Price Nears Key Resistance Levels as On-Chain Activity Heats Up
Sui Price – After a volatile week, Sui (SUI) is showing signs of recovery, buoyed by strengthening on-chain fundamentals. At press time, SUI trades at $2.82, marking a 3.6% daily gain and a 24% increase over the past month. Although the token remains 47% below its January all-time high of $5.35, recent ecosystem developments suggest growing investor confidence.
Over the past seven days, SUI has fluctuated between $2.45 and $3.56, closing the week with a 3.4% gain. Meanwhile, daily trading volume has cooled, falling nearly 29% to $1.78 billion. Derivatives data from CoinGlass indicates that SUI futures volume declined 22.9%, while open interest rose 5.8% to $875.98 million—often a sign of quiet accumulation ahead of a potential move.
Liquidity Deepens as Stablecoin Market Cap Jumps
Sui’s DeFi ecosystem is showing robust growth, reinforcing the token’s recent price stability. According to DeFiLlama, the market cap of stablecoins on the Sui network rose 19% in the past week, hitting $1.1 billion.
Simultaneously, Sui’s total value locked (TVL) reached a record-high of $2.63 billion on October 9. Weekly DEX volume also surged to $7.92 billion, up from $4.8 billion the previous week—highlighting increased engagement from both institutional and retail participants.
A key catalyst arrived on October 14, when Sui announced a partnership with Figure Technology Solutions to integrate YLDS, an SEC-registered, yield-bearing stablecoin backed by short-term U.S. Treasuries. This move enables users to convert assets like USDC into yield-generating tokens via DeepBook, Sui’s decentralized trading platform.
Price Outlook: Bulls Watch Key Resistance Levels
On the technical front, SUI is showing early signs of stabilization. The relative strength index (RSI) hovers near 39, indicating potential oversold conditions. While momentum is slowly turning positive, MACD remains in bearish territory.
Key resistance levels include the 10-day EMA at $3.00 and 20-day EMA at $3.16, with the 200-day SMA at $3.29 marking a longer-term hurdle. Holding above $2.60 could pave the way for a push toward the $3.10–$3.20 zone, while a drop below $2.45 may trigger a retest of support near $2.20.
With two native stablecoins—suiUSDe and USDi—set to launch by the end of 2025, and BlackRock-backed infrastructure in play, Sui’s roadmap continues to attract attention amid a competitive DeFi landscape.
