SUI’s $14.8B Record: Why Is Price Stuck in the Mud?

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  • SUI sets a jaw-dropping $14.8B DEX volume record, but the price remains stuck below $3.87 – Why the resistance?
  • Despite rising TVL and inflows, MACD and liquidation clusters whisper: don’t expect a breakout anytime soon.

In May 2025, Sui [SUI] decided to rewrite the rulebook, setting a shiny new record for monthly DEX volume at $14.8 billion. That’s nearly four times its usual average of $3.93 billion. Someone’s been busy!

This enormous leap hints at more trading action than an impromptu dance-off at a family reunion. The driving force? Maybe an uptick in interest for its native DeFi protocols, coupled with a little something called “momentum” in its ecosystem. All signs point to a mad dash—but the price action? Well, it seems a tad reluctant to join the party.

Now, normally, volume growth would send prices into orbit, but SUI seems to be having cold feet, consolidating below a formidable resistance level. It’s like a race car revving its engine but stuck in the pit stop. Will it get moving? Only time—and traders—will tell.

Can Rising TVL and On-Chain Activity Turn SUI’s Frown Upside Down?

SUI’s Total Value Locked (TVL) soared to $2.346 billion, with a stellar 7.69% increase over just the past 24 hours. Looks like money’s flooding in like it’s a Black Friday sale!

And just when you thought it couldn’t get any better, spot flows showed a slight bias toward accumulation: $54.92 million came in, while $53.61 million slipped out. That $1.31 million net inflow, combined with rising TVL, suggests that investors are slowly stacking their SUI holdings—patiently waiting for the fireworks to begin.

But don’t get too excited. The traders seem to be tapping the brakes, taking a breather, and trimming their exposure. Speculative positions? They’re on the decline.

Open Interest fell by 2.83%, landing at $1.79 billion. It’s as if traders are giving their portfolios a spa day. The result? An air of uncertainty lingers. Nobody’s ready to make big bets just yet.

Price Action Slows: Will $3.87 Be the Price’s Kryptonite?

SUI was priced at $3.69 at the time of writing, up a modest 3.98% on the day. But guess what? It’s still trapped beneath that pesky $3.87–$4.13 Fibonacci resistance zone. It’s like trying to get a car to move, but it’s stuck in the mud.

This price range has been the bane of SUI for weeks now, holding it back from any real progress. The MACD indicator is looking less enthusiastic by the minute, with the signal and MACD lines converging like two old friends who are just tired of hanging out. The histogram bars? Fading into oblivion.

Despite strong DEX volume and rising TVL, SUI’s momentum seems to have lost its sparkle. It’s like getting all dressed up for a night out, only to find the party’s been canceled. Still, there’s a sliver of hope—if buyers push hard enough, the price might finally break free.

Liquidation Clusters: The Silent Bouncers of the Crypto World

As if that weren’t enough, Liquidation Heatmap data reveals a dense cluster of liquidation risks between $3.6 and $3.87. These are the areas where short positions get skittish, and defensive selling or liquidations come into play. It’s like standing on a landmine, hoping it doesn’t go off.

So, what happens if SUI breaks above that $3.87 mark? Well, it could trigger a short squeeze, sending the price skyrocketing toward the next major Fibonacci level near $4.97. But if it gets stuck in this range, don’t be surprised if we see a pullback to the $3.57 or even $3.12 levels. A little price dip to keep things interesting.

Can SUI Finally Break Free From This Holding Pattern?

SUI’s DeFi ecosystem is bursting with activity—yet, oddly, its price is like a wallflower at the dance. It’s busy setting records, but those records don’t seem to be inspiring any love from the price action.

The real question now is whether the bulls can finally muster enough energy to push through the $3.87–$4.13 range. Without that, even a record-breaking volume might not be enough to break free from this price purgatory.

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2025-05-29 11:06