- SUI hit a record $14.8B in DEX volume and saw rising DeFi activity, yet its price remains stuck below the key $3.87 resistance.
- Despite strong fundamentals, traders await a breakout confirmation before pushing the price higher.
Sui [SUI] just shattered expectations with a record-setting DEX volume of $14.8 billion in May 2025 — a nearly 4x jump from its historical average. Yet, despite this explosive growth in on-chain activity, SUI’s price continues to stall below the stubborn resistance zone at $3.87. Why isn’t the market reacting with a stronger rally?
At the heart of this paradox lies a blend of impressive fundamentals and hesitant technicals. SUI’s Total Value Locked (TVL) has surged to $2.346 billion, with a 7.69% increase in just 24 hours. Net inflows into DeFi protocols are positive too, suggesting that long-term holders are accumulating. But while these are bullish indicators, the price has failed to capitalize.
Also read: Can Toncoin Reach $10? Telegram’s $300M xAI Deal With Elon Musk Sparks Price Surge
One major reason: open interest has dropped by 2.83% to $1.79 billion. This dip shows that leveraged traders are pulling back — potentially locking in profits or waiting on the sidelines until the price confirms a breakout.
Technically, SUI’s price action remains constrained. Trading at $3.69 at press time, it faces heavy resistance in the $3.87–$4.13 Fibonacci zone — a level it has failed to breach for weeks. The MACD is flashing warning signs as bullish momentum wanes, with converging signal lines and fading histogram bars.
Adding to the challenge are dense liquidation clusters between $3.6 and $3.87, which often act as resistance. Price advances into these zones tend to trigger automatic sell-offs or liquidations, creating a feedback loop that stalls momentum.
If bulls can flip the $3.87 resistance convincingly, it could ignite a short squeeze, potentially pushing the price toward $4.97. But without that catalyst, SUI risks continued consolidation or even a pullback to $3.57 or lower.
In short, SUI’s fundamentals are strong — perhaps stronger than ever — but traders are demanding more than numbers. Until the price breaks through the current ceiling, SUI remains a high-potential asset stuck in wait-and-see mode.