SUI records a record trading volume of 30 billion USD – Is a bullish trend forming?

The total trading volume of SUI on aggregate platforms has reached 30 billion USD, reflecting the growing interest in this ecosystem.

The trading volume in the past month has increased by 12.79% compared to the previous month, indicating a stable growth trend in user participation.

The significant increase in aggregated volume not only reflects the growing confidence of investors but also reinforces the expectations regarding the long-term value of SUI in the market.

Source: XIt is noteworthy that this growth trend occurs alongside a sustainable price recovery, indicating that an increasing number of traders are proactively engaging with and using SUI in investment activities.

As the market becomes more active, liquidity also improves significantly — a factor that can lead to stronger price fluctuations in the short term.

Bearish Channel Structure and Potential Breakout Signal

Currently, SUI is moving within a descending parallel channel, defined by a series of lower highs and lower lows – a technical pattern that often indicates prevailing selling pressure. However, market analyst CW8900 believes this could be a precursor stage for a bullish breakout.

Source: TradingViewNotably, the price of SUI is currently approaching the upper trend line of the downtrend channel – which has previously served as strong resistance multiple times. The recent bounce from the support zone below further reinforces the signal of a return of buying strength, opening up the possibility of continuing the recovery momentum.

If the price can decisively break above the trend line, the bullish reversal scenario will be activated, with the immediate target at $2.40. This is an important resistance level and could serve as a launching pad for a new rally, with the next target above the $3 mark.

In addition, the accumulation process is still occurring steadily – a factor that often signals preparation for strong fluctuations. As the price approaches the center zone of the channel, the probability of a breakout occurring increases. And once the momentum of the breakout is clearly established, the upward momentum may explode.

Technical Analysis and Volume: Reinforcing the Uptrend

The technical indicators are currently supporting the upward trend of SUI, indicating positive signals on multiple fronts.

The Relative Strength Index (RSI) is at 47.29 - a neutral zone, not in overbought or oversold territory. This opens up room for an upward trend if market sentiment remains positive. A breakout of the RSI above 50 will be a stronger confirmation signal for the upward trend, while also activating additional buying power.

Source: TradingViewIn addition, the Cumulative Volume Delta indicator (CVD) is also sending optimistic signals. With the current value reaching 278,290, the CVD indicates that buying pressure is increasing, while also supporting the bullish trend that is forming.

In particular, the combination of rising prices and increasing trading volume is a classic formula for breakout potential. If SUI can surpass the resistance level of $2.40 accompanied by a significant increase in volume, the upward trend will be further solidified.

Additionally, the MACD indicator also supports the bulls. The MACD line has crossed above the signal line, while the histogram remains above the 0 level – a sign that bullish momentum is still prevailing in the market.

On-chain data and market sentiment: Positive outlook for SUI

On-chain data from the Sui network shows that the daily transaction volume is maintaining a stable upward trend, reflecting the increasingly strong vitality of this ecosystem.

Since the beginning of 2025, trading volume has been steadily increasing, interspersed with notable spikes at the beginning and end of March — a clear indication that user engagement with the SUI network is on the rise.

Currently, the open interest of SUI has reached 322.3 million USD, an increase of 2.95% in the past 24 hours. This increase reflects growing confidence from traders, as more and more new positions are being opened. Typically, when open interest rises alongside high liquidity, the market tends to experience more significant price fluctuations.

With the increasing number of traders participating, expectations for significant price fluctuations are becoming more evident, especially as SUI approaches important resistance levels such as the $2.40 mark.

If this strong participation continues, the market may soon witness a significant breakout, opening up the possibility of pushing the price into the target range of $3.00 to $5.00.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct thorough research before making any decisions. We are not responsible for your investment decisions.

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