On Monday, June 2nd, the SUI experienced a slight downtick of 2% to reach a trading price of $3.27. The selling pressure followed Bitcoin’s prolonged correction below $110,000, maintaining a bearish market narrative. Contrary to price decline, SUI’s network activity shows notable growth as daily DEX volume surpassed the $304 million mark. Is a bullish rebound imminent?
Sui Network Sets New Benchmark in Q1 2025
The SUI network emerged as a standout performer in early 2025. According to Messari’s Q1 report, the SUI’s average daily DEX volume surged 14.6% quarter-over-quarter and set a new all-time high of $304.3 million.
Higher DEX volume typically reflects increasing demand for on-chain activity, suggesting that more users are utilizing the ecosystem’s services, such as swaps, providing liquidity, and engaging in DeFi protocols on SUI.
In addition, the ecosystem has expanded its reach, providing access to over 100 million users. As rising network activity supports SUI’s demand during the price pullback, the coin maintains its position as the 12th-largest cryptocurrency, according to CoinMarketCap data
SUI Price Faces Major Breakdown Below 200-day EMA
Over the last three weeks, the SUI price has experienced a downward trend, dropping from $4.29 to $3.20, accounting for a 23.38% loss. The selling pressure followed renewed correction in Bitcoin and a prolonged tariff war between the United States and other countries.
The daily chart illustrates this downtrend with a series of lower highs, indicating a sell-the-bounce sentiment. If the bearish momentum persists, the SUI price will breach the monthly support of $3.22, which coincides with the 200-day exponential moving average.
This breakdown will strengthen the seller’s grip over this asset and drive a further price decline to $2.52.
On the contrary, the $3.22 floor remains a strong pivot level for buyers as it also aligns with the 50% Fibonacci retracement level. Theoretically, a price drop to this degree is considered healthy for buyers to regain their bullish momentum and resume the prevailing uptrend.
Thus, the potential traders must wait to see how the SUI price unfolds at the aforementioned before entering the market. A potential surge above the $3.65 resistance could bolster recovery potential.
