SUI crypto, the native token of the fast-growing Layer 1 blockchain, has once again captured the market’s attention after bouncing back above the critical $3 psychological level.
Although recent price action showed vulnerability, the recovery has sparked hope for another rally, especially as bullish technical signals begin to surface.
The previous price drop was a bear trap
Notably, SUI’s ability to hold firm above $3 despite heavy selling pressure speaks to underlying demand and strength from its investor base.
On June 5, SUI cryptocurrency started on a sharp decline that culminated in a monthly low of $2.89 in the early hours of June 6.
However, as trading volumes rose, a strong reversal unfolded, igniting speculation that the previous breakdown may have been a bear trap rather than a full trend reversal.
Notably, as the altcoin dropped there was mounting short interest, particularly from institutional players such as Abraxas Capital, which had accumulated over $55 million in floating profits from short positions on Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Hyperliquid (HYPE), and SUI.
However, despite this pressure, SUI defended the $3 level successfully, triggering a bullish engulfing candle that has now invalidated a recent bearish breakout below the $3.20–$3.15 support range.
At the time of writing, SUI traded around $3.28 with a market cap of approximately $11.13 billion, showing a notable 8.6% gain over the past 24 hours.
This price movement coincided with a spike in leverage, especially within the $3.05 to $3.39 zone, where liquidations totaling nearly $14 million could create the conditions for a sharp short squeeze.
SUI price prediction
According to our SUI price prediction, if the price pushes past the $3.39 mark, a wave of short liquidations could accelerate gains and send SUI toward the $3.75–$4 range in short order.
Also, on the technical front, SUI recently completed a Golden Cross — a bullish crossover between the 50-day and 200-day moving averages — which historically has led to explosive price increases for the token.
The last time this crossover occurred, SUI surged by over 350%, reaching its all-time high of $5.35 back in January 2025.
Although current market conditions differ, the crossover still suggests the momentum is gradually shifting in favor of the bulls.
At the same time, indicators such as Moving Average Convergence Divergence (MACD) remain in the green and within a bullish zone, signaling that momentum has not entirely flipped bearish despite recent setbacks.
Also, although the Relative Strength Index (RSI) is below 50, it is bullish and has already moved above its moving average.
However, However, not all signals confirm bullish strength just yet. The Chaikin Money Flow (CMF) shows a negative flow of capital of -0.14 on the daily chart.
Nevertheless, a decisive push above $3.50 would offer clearer confirmation of a renewed uptrend, especially if money inflows improve and RSI breaks through resistance.
SUI crypto ecosystem growth supports the bullish stance
Fundamentally, SUI’s ecosystem has seen remarkable growth, with over $1 billion in stablecoin reserves and a 37% year-to-date surge in total value locked (TVL).
The blockchain’s rising adoption by institutional players, such as Grayscale’s recent launch of a SUI Trust, has further strengthened investor confidence.
However, concerns over centralization emerged following the Cetus DEX hack, where $223 million was drained before the Sui Foundation intervened by freezing $162 million via a controversial ledger modification.
While the decision ensured damage control, it raised important questions among decentralization advocates regarding the governance model of the Sui Network. One advocate by the name of StarPlatinum on in a detailed X post quoted Gainzy saying, “SUI is worthless because it’s centralized.”
Despite this, the rebound in price following the incident indicates that market participants still believe in SUI’s long-term potential.
For now, the key level to monitor is the $3 support zone, which must continue to hold to prevent a drop toward $2.80 or even $2.00.
If bulls maintain control and the price climbs above $3.50, SUI could realistically aim for $4, with a possible retest of the $5.35 high not out of the question.
In the short term, the battle between leveraged shorts and recovering bulls will define the pace and direction of SUI’s next big move.
But as it stands, SUI’s current structure leans bullish, provided the broader market doesn’t experience another sharp selloff.