Sui Network’s native token, SUI, is showing signs of a trend reversal after a sharp 10% breakout.
On March 27, the token traded around $2.76, climbing more than 5.7% in a single day.
SUI Reclaims Key Levels After Weeks of Decline
After reaching its all-time high of $5.37 in January 2025, SUI lost over 50% of its value, dropping to $1.96 earlier in March. This sharp decline was part of a wider market correction, but SUI seems to be bouncing back strongly.
According to the daily chart, SUI now sits just below the 50-day Exponential Moving Average (EMA), which is around $2.80, and is approaching the 100-day EMA at $2.90. Breaking above these EMAs could attract more buyers.
The Relative Strength Index (RSI), which measures momentum, currently reads 56.94. This suggests that the token is gaining strength but is still far from being overbought, leaving room for further price increases without triggering a correction.
Analyst Michaël van de Poppe pointed out that SUI had a “tremendous retest” of a strong support zone around $2.00–$2.20, which could now serve as the base for further upside. He believes that the uptrend “has started from here.”
SUI’s move gained pace over the weekend, with the token posting five consecutive green daily candles. This indicates a steady buying pressure. After briefly pulling back to $2.20, the token resumed its upward momentum and regained the $2.40 level, a crucial support that had acted as resistance during previous rallies.
If this pattern continues to play out, SUI could aim for the next resistance at $2.80, followed by $2.90 and potentially $3.08 (200-day EMA). A sustained rally above these levels could set the stage for a larger move toward the previous high.
Rebound Linked to Institutional Support and Strategic Partnerships
The token’s recent recovery is driven by rising institutional interest and positive developments in its ecosystem. Notably, Canary Capital filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC) to register a spot SUI exchange-traded fund (ETF). If approved, this could open the door for traditional investors to gain exposure to the token.
Additionally, the Sui Network partnered with World Liberty Financial (WLFI), an initiative backed by former U.S. President Donald Trump’s broader crypto venture. This high-profile connection has further raised the profile of SUI in the eyes of investors, especially those tracking politically-linked blockchain developments.