SUI, the native utility token of the Sui blockchain, tanked 66% in FY 2025, largely wiping out the prior year’s gains.
To remind, the crypto market experienced a strong bullish trend throughout 2024.
SUI has been trending lower in 2026 and is down more than 30% YTD.
The coin plunged 21% in February and then moderated the pullback in March while groping for a lower trading range, consistent with the support level.
While the price action rebounded in April, it is too soon to hazard a guess about the directionality of this token.
On April 7, CME Group announced plans to launch SUI futures contracts starting May 4, which could significantly improve the availability of the asset, including for institutional investors.
The news lifted market sentiment and pushed the coin higher.
One of the key headwinds still remains the early-month unlock and release of around 43 mn tokens into the market, according to crypto experts.
From a TA standpoint, the coin has found support near $0.8.
If the bears can break and hold below this level, the price could first pull back towards $0.46 (the August 2024 low) and then see a leg down to $0.36 (the October 2023 low).
In a continued rebound scenario, resistance levels lie at $1.08 and $1.30, after which the bulls may set their sights on $1.65 – the 23.6% Fibonacci retracement.
A breakout above this level would open the door towards levels above $2.0, although it is still too soon to build such a target into trading strategies.