Sui (SUI) price has been trapped in a correction mode since the beginning of 2025, and the selloff pace accelerated after the second inauguration of U.S. President Donald Trump. The large-cap altcoin, with a fully diluted valuation of about $22.8 billion and a 24-hour average trading volume of about $889 billion, has dropped over 32 percent in the past four weeks.
However, Sui price has rebounded around 5 percent in the past seven days to trade at about $2.28 on Tuesday, March 18, during the early New York session.
Midterm Expectations for Sui Price
From a technical analysis standpoint, the Sui price has gradually gained bullish momentum in the past two years, characterized by higher highs and higher lows. In the past two weeks, the SUI price has been retesting the local high made in April 2024 and breached in October 2024.
According to crypto analyst Ali Martinez, SUI price is on the cusp of a breakout after approaching the apex of an ascending triangle pattern in the 1-hour time frame. A bullish reversal pattern for the Sui price will be invalidated in case of a consistent close below $2.2, which will lead to further selloff towards below $2.
In case of a consistent close above $2.4, Sui’s price will be well positioned for a bullish rebound towards $2.89.
Fundamental Outlook
The Sui network has grown to a vibrant web3 ecosystem with dozens of DeFi protocols led by Suilend, NAVI, Cetus AMM, and Haedal, among others. As of this writing, the Sui network had more than $1.1 billion in total value locked and around $654 million in stablecoins market capitalization.
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