Sui is back in focus as recent activity presents a mixed but closely watched outlook. After weeks of selling pressure, the token now sits at a point where both recovery hopes and caution are shaping market decisions.
Price action shows SUI revisiting its long-term diagonal support trendline for the third time since 2023. This same level sparked major rebounds in the past, including gains of more than 440% in early 2024 and over 740% later that year.
The current support zone ranges from $1.30 to $1.50, while the token recently rebounded above $1.54 following a surge of more than 10% on November 24. Market value climbed to roughly $5.68 billion, with daily trading volume exceeding $1.04 billion.
Strong inflows, uncertain direction
Fresh momentum has been driven by a sharp $2.4 billion inflow in stablecoins within 24 hours. This pushed Sui ahead of major blockchains such as Ethereum and Aptos in stablecoin supply growth. Assets like USDC, USDT, and FDUSD continue to strengthen liquidity and support decentralized trading, lending, and yield platforms.
Total value locked now sits between $996 million and $1.19 billion following the launch of the USDsui stablecoin, reflecting steady ecosystem expansion. Despite these gains, risks remain. A 32% slide since early November keeps traders focused on the $1.71 resistance level, seen as a key turning point.
Technical signals show stabilization above the $1.65–$1.67 range, with improving momentum and price holding above short-term moving averages. A breakout could push SUI toward $1.73 to $1.88, while weakness may send it back toward $1.35.
Leverage and staking
Leverage continues to influence sentiment. Perpetual futures trading is more than five times higher than spot volume, and rising open interest suggests short positions are being closed. Staking participation is also growing, offering returns between 2.5% and 5.3% APY through platforms like Kraken and Gem Wallet.
User activity has softened, with daily users dropping to around 400,000. At the same time, ETF applications from Canary Capital and 21Shares remain under review, keeping institutional interest on hold as the market waits for clearer direction.
