On Tuesday, June 24th, the SUI price dipped slightly by 1.09%, settling at $2.80. This pullback mirrored broader market uncertainty fueled by ongoing geopolitical tensions in the Middle East, where Iran and Israel violated a previously announced ceasefire. Despite weakening bullish momentum—evidenced by declining SUI futures open interest—the daily chart reveals a promising counter-trend opportunity. The SUI price maintains a bullish pattern, supported by a robust Total Value Locked (TVL) exceeding $1.5 billion.
SUI Defies Market Downtrend with Strong TVL Performance
Over the past six weeks, SUI’s price corrected sharply from $4.29 to $2.29, marking a 46% decline. This downturn was primarily driven by escalating military conflicts in the Middle East.
Concurrently, Sui futures open interest plummeted by 43%, from $2.05 billion in late May 2025 to $1.17 billion, signaling reduced trader confidence. Such a contraction in speculative activity could delay price recovery.
However, the SUI network’s TVL has demonstrated resilience, holding above $1.5 billion. According to DeFiLlama, SUI’s TVL surged 9.13% in the last 24 hours, reaching $1.738 billion. This growth reflects renewed capital inflows and user engagement within SUI’s DeFi ecosystem, reinforcing its position as a competitive DeFi player.
Bull Flag Pattern Suggests Potential Breakout
Over the past 48 hours, SUI’s price rebounded 22%, climbing from $2.29 to $2.80. This recovery aligns with a bull flag pattern on the daily chart—a technical formation often preceding upward breakouts.
Key observations:
- A 7.4% rise could challenge the flag resistance at $3.02.
- A confirmed breakout may propel SUI toward $4.3, leveraging recuperated bullish momentum.
👉 Discover how SUI’s DeFi growth compares to other top protocols
FAQs
What factors are influencing SUI’s price movement?
SUI’s price reflects geopolitical tensions and shifts in trader sentiment, but its strong TVL growth provides underlying support.
How does the bull flag pattern work?
The pattern consolidates after a sharp rise, offering a potential breakout point if bullish momentum resumes.
Why is TVL important for SUI?
High TVL indicates strong user activity and capital inflows, signaling ecosystem health and long-term viability.
👉 Explore SUI’s latest price predictions
Conclusion
While short-term risks persist, SUI’s technical structure and fundamental strength (evidenced by TVL growth) suggest a potential upward trajectory. Traders should monitor the $3.02 resistance level for breakout confirmation.
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry high risks; readers should conduct independent research before making decisions.
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