TLDR:
- SUI price holds $3.15 support after a breakout above $2.75 triggered April’s upward trend.
- Analysts maintain a bullish target of $5.37 if the current market structure stays intact.
- Trading volume remains high despite the weekly price dip, showing investor confidence.
- Ecosystem growth and TVL gains continue to support long-term bullish sentiment for SUI.
The SUI blockchain token has experienced a temporary pullback after its recent surge, yet crypto analysts remain confident about the asset’s long-term trajectory. Market observers highlight the token’s robust fundamentals and ecosystem development as key drivers for future growth.
Technical indicators suggest the current decline represents a healthy retracement rather than a trend reversal. Moreover, market observers continue to view SUI as an undervalued asset with upside potential. Trading activity remains elevated despite the recent price softness, indicating sustained investor interest.
SUI Price Shows Resilience Despite Recent Decline
Recent market data reveals SUI trading at $3.19, marking a 1.94% decline over the past 24 hours. The token has faced additional pressure over the weekly timeframe, dropping 11.93% during this period.
However, analysts interpret this movement as a natural correction following the substantial gains recorded in previous weeks. The SUI price has established a trading range between $3.10 and $3.71 over the past week, with immediate support at $3.15 and resistance at $3.26 based on recent trading patterns.
Chart analysis from crypto trader Lucky reveals a breakout occurred in April around the $2.75 level. This technical development marked the end of a prolonged downtrend and initiated a rally toward $3.50.
The analyst maintains that SUI remains in a strong upward trajectory despite the current retracement. Support has held firm at the breakout level, reinforcing the bullish market structure. Technical projections suggest the token could target $5.37 if momentum continues building.
$SUI dipped a bit, but we all knows this is an underated ecosystem.
This will run hard higher in no time.
Not financial advice. pic.twitter.com/B0elCI1Toi
— Lucky (@LLuciano_BTC) June 4, 2025
Ecosystem Growth Fuels Long-Term SUI Confidence
Cryptocurrency analyst CryptoED emphasizes the fundamental strengths supporting SUI’s market position. The blockchain has attracted billions in total value locked, demonstrating genuine utility and adoption.
Major partnerships continue expanding the ecosystem’s reach and functionality. These developments position SUI favorably compared to other smart contract platforms in the current market cycle. The analyst characterizes recent price action as merely the beginning of a larger upward movement.
•Billions in TVL
•Massive ecosystem growth
•Major partnershipsThis isn’t… pic.twitter.com/FoXCbtP6Yi
— CryptoED (@Crypto_ED7) June 4, 2025
SUI’s 24-hour trading volume reached $700,145,283 despite the price decline, though this represents a 1.20% decrease from the previous day.
The token has underperformed both the broader cryptocurrency market and the smart contract platform sector over the past week. Global crypto markets declined 2.10%, while smart contract platforms dropped 3.80% during the same timeframe.
However, the substantial trading volume indicates continued institutional and retail interest. Market watchers suggest this correction creates attractive entry opportunities for investors seeking exposure to the SUI ecosystem’s growth potential.
The post SUI Price Pulls Back as Analysts Forecast Strong Upside Continuation appeared first on Blockonomi.
Source: https://blockonomi.com/sui-price-pulls-back-as-analysts-forecast-strong-upside-continuation/