SUI has entered a technical bear market this year after falling about 40% from its highest level.
Sui (SUI) token has fallen to $ 3.25, below all its time high $ 5.36, making its market capitalized to $ 9.8 billion.
Recently decline reflects the performance of other altcoins that have eradicated the benefits of some fourth quarter. Layer -1 tokens such as Solana (Sol), Atherium (Ath), and Polkadot (DOT) have also entered the bear market area, each falling more than 30% from its peak.
Despite the decline, there are many reasons that SUI can rebound up to 65% and resume its all -time high $ 5.36. A major factor is the growing appearance of SUI in major areas of the Crypto industry.
For example, Defee lama Data shows that the SUI has become the sixth largest blockchain in the decentralized exchange industry. Protocol in its ecosystem handled over $ 2.28 billion in transactions in the last seven days, reaching $ 65 billion in total. Leading platforms in the network include cetus, bluefin, deepbook and turbos.
The SUI has also become the ninth largest range in Crypto in terms of its total decentralized finance assets. Its Defy TVL has exceeded $ 1.45 billion, leading to other blockchain like avalanche, cardano and polygon.
Additionally, SUI is working to install itself in the gaming sector. The network needle is preparing to launch the needle, a gaming console that will include hundreds of games.
Needle price forecast
The daily chart suggests that the needle token reached $ 2.34 before $ 5.34 earlier this year after a wide ultachine cell-off triggered by Trump’s tariffs. This lower level matches 61.8% Fibonacci retracement level, a major support area obtained from the gold ratio in the fibonacci sequence.
SUI has also created a falling wedge pattern, a common rapidly reversed indicator. This pattern consists of two descending and convergence trendline, with a breakout usually occurs when the lines are convergent.
As a result, SUI is likely to rebound and possibly resumed its all -time high levels of $ 5.36, which will represent a 65% increase from its current level. However, a drop below the support level at $ 2.35 will make the outlook invalidate rapidly.
