While most altcoins are declining, SUI has been moving against the market trend. Today, SUI leads the market with a 9.5% growth, reaching a trading volume of $1 billion, up by 35%. The price increase of SUI comes amidst new economic concerns, such as US tariff policies and the possibility of a recession by Goldman Sachs. Despite inflation pressures, SUI managed to survive as $151 million SUI was released into circulation. SUI’s fundamental network growth is a key reason for its resilience in the face of market downturns. The ecosystem’s accounts increased by 69% in March, reaching 110 million. Moreover, the market value of stablecoins on this network rose from $370 million in December to $688 million in April. However, market liquidity decreased due to fear and uncertainty, with the total locked value (TVL) in the SUI ecosystem dropping from $2.08 billion in January to around $1.2 billion. Yet, monthly trading volume on decentralized SUI-based exchanges remains strong at $5.98 billion. Technically, SUI recently broke out of a downtrend channel that had been exerting pressure on its price since the beginning of the year. If this resistance break is genuine, SUI’s price may move towards $3.70, equivalent to a 50% growth from the current price. However, in case of another price drop, a key support level for SUI is around $2, where buyers are likely to step in to defend the uptrend.
