SUI price has been up roughly 4% in the last 24 hours but has remained down 30% over the past month. Despite slight recovery, its technical indicators still point to an overall bearish setup, with both the Ichimoku Cloud and EMA lines suggesting strong resistance ahead.
However, SUI continues to show impressive trading activity, ranking as the sixth-largest blockchain by daily volume, ahead of Avalanche and Polygon. Whether SUI can sustain this momentum and reclaim $4 in the coming days will depend on its ability to break key resistance levels and confirm a trend reversal.
SUI Is Now The 6th Largest Chain In Terms of Daily Volume
SUI blockchain daily volume reached $615 million in the last 24 hours, making it the sixth-largest blockchain by volume. This puts it ahead of well-established networks like Avalanche, Hyperliquid, Polygon, and Tron, signaling strong market activity.
While SUI is a relatively new player, its ability to generate such a high volume suggests growing interest from traders and investors.
Tracking daily volume is crucial for blockchains as it reflects user engagement, liquidity, and overall demand. Despite attracting $615 million in daily volume, SUI still has far fewer protocols than older networks like Avalanche and Polygon.
This suggests that while its ecosystem is not yet as developed, the strong trading activity could drive more projects to build on SUI, potentially accelerating its adoption and growth.
Ichimoku Cloud Pictures a Bearish Setup for SUI
The Ichimoku Cloud chart shows that the SUI price is currently trading below the cloud, indicating that the broader trend remains bearish. The cloud itsel
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Author: Tiago Amaral
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