SUI Price Battles Back: Can It Break the Wedge?

After facing a month-long downtrend of over 7%, the SUI price is making a modest recovery.

Shaking off the bearish dust, the SUI token is stirring attention again as it steadies at $2.13 with eyes locked on a possible breakout toward the $3.00 level. Recent technical patterns, rising liquidity, and a high-profile partnership in Greece energize bulls despite a rough month.

As the wedge pattern nears its apex, investors are closely watching for potential that could redefine SUI’s short-term trajectory. After facing a month-long downtrend of over 7% and a dip below the 38.20% Fibonacci retracement level at $2.20 amplified bearish pressure on the SUI price.

However, the token has bounced back 1.60% in the last 24 hours, currently trading at $2.13. A quick recovery candle, paired with a daily RSI bounce from the oversold zone, signals a possible trend reversal.

Chart 1: SUI live price chart, published on CoinMarketCap, April 19, 2025

Still, the super trend indicator remains bearish, with resistance at $2.65. A sustained breakout could trigger a renewed uptrend targeting the $3.00 psychological resistance, aligning with the 23.60% Fibonacci level. Conversely, failure to hold above $2 could drag the SUI price toward the 50% Fib support at $1.68.

In a move toward broader adoption, the National Stock Exchange of Greece (ATHEX) has joined forces with the SUI blockchain to launch an on-chain fundraising platform. The initiative utilizes zero-knowledge (ZK) technology to ensure privacy and speed in capital markets.

The collaboration with Mysten Labs underscores SUI’s growing appeal as a high-performance blockchain capable of handling institutional-grade applications. The partnership is expected to elevate the network’s profile globally, especially among traditional financial players.

Real-world finance meets next-gen blockchain. Greece’s national stock exchange, @ATHEX_Group — is going onchain with Sui.@Mysten_Labs and ATHEX are building a ZK-powered fundraising platform that enhances privacy and speed in traditional capital markets. pic.twitter.com/sFo3dutB4V— SUI Network (@SuiNetwork) April 18, 2025

Adding to the bullish narrative, SUI’s stablecoin supply hit a record high of $746.81M, showing a 99.82% increase in 2025 YTD, according to crypto analyst Torero Romero.

This surge reflects investor confidence and increases available capital within the SUI DeFi ecosystem, an essential component for future growth.

Furthermore, analyst CryptoWZRD sees potential for a 560% rally, likening SUI’s current setup to Bitcoin’s previous wedge breakouts. If SUI breaks above $2.90, the next stop could be $5, making the current accumulation zone highly attractive.

SUI is currently trading at $2.13, with a 24-hour trading volume of $388,972,534. The SUI token is down 7.09% in the last seven days.

SUI price predictions for 2025: A technical analysis

The SUI token is currently trading at $2.13, with a 1.60% increase in the last 24 hours. The coin has been performing poorly since the start of 2025, with a 50.00% decrease in price so far.

However, recent technical patterns and a high-profile partnership in Greece could be pivoting the SUI narrative.

The SUI price is coiling within a falling wedge – a classic technical setup that often precedes a breakout or a decisive move in the underlying asset’s price. The token also dipped below the 38.20% Fibonacci retracement level at $2.20, amplifying bearish pressure.

Still, a quick recovery candle, paired with a daily RSI bounce from the oversold zone, signals a possible trend reversal.

If the bulls manage to push the SUI price above the wedge pattern at $2.65, it could pave the way for a rally toward the $3.00 psychological resistance, aligning with the 23.60% Fibonacci level.

On the other hand, if the bears manage to drag the SUI price below the Fib support at $1.68, it could open the door for further declines toward the $1.00 psychological level.

The SUI token has a circulating supply of over 3.24 billion SUI and a capped total supply of 10 billion. The entry point for the SUI token is $2.117, while the pivot point is at $2