SUI coin is once again recovering after losing the resistance level close to $0.90. The coin’s recovery started after prices tanked below the $0.70 price level, a popular accumulation zone. The coin lost more than 50 percent during its latest crash.
SUI the native cryptocurrency of the Sui blockchain, a Layer-1 network designed for high-speed transactions, low fees, and scalability, has now entered a recovery phase. This recovery comes after the coin crashed after hitting $1.30.
Since the beginning of 2026, the SUI coin has been consolidated, and most of its price action was limited within the $0.8 and $1.0 price levels. However, there was one spike on May 10, 2026, which shot the prices above the psychological $1 price level.
SUI spikes in May with staking and Paga partnership announcement
Among the key catalysts that sent SUI soaring was the announcement that a Nasdaq-listed company had staked a significant portion of the token’s circulating supply on May 9, sparking an immediate 13% rebound.
Investor sentiment was further boosted when Nigerian fintech giant Paga expanded its integration with the Sui blockchain, enabling dollar accounts and cross-border payments through USDsui, the network’s native stablecoin launched on March 4, 2026. Additional momentum came from the launch of regulated SUI futures by CME Group on May 4, which increased institutional exposure to the asset
Meanwhile, crypto trading platform Margex introduced a $3 million liquidity incentive program running through June 3, encouraging greater market participation and helping fuel SUI’s explosive price rally.
With prices reaching levels not seen since the latter end of January, SUI holders started to sell the coin. As such, the coin crashed from a high of $1.40 to $0.68. But now the narrative has changed.
SUI has changed its trajectory and is now heading upwards after reaching the accumulation zone. The token spent several weeks consolidating at lower levels, indicating that sellers were gradually losing control while buyers quietly accumulated positions. This phase often precedes a stronger directional move, and SUI appears to be following that pattern.
The recent recovery has been accompanied by rising trading volume, suggesting that market participants are becoming increasingly confident in the token’s prospects. As the price continues to form higher lows, bullish momentum is gradually building, increasing the likelihood of a sustained uptrend.
SUI keeps its bullish broadening wedge pattern intact
Even on the broader time frame, SUI is currently forming the broadening wedge pattern. Despite crashing hard for the past 3-4 months, SUI is stil within the bounds of this bullish pattern.
A broadening wedge is characterized by diverging trendlines, where the price records progressively higher highs and lower lows, creating a widening price range. While the pattern may appear chaotic due to the heightened volatility, it often signals that the market is undergoing a prolonged accumulation phase before a decisive move.
In SUI’s case, the recent decline merely pushed the price toward the lower boundary of the wedge, a zone that has historically attracted buyers. The latest rebound from this area suggests that bulls are once again defending the pattern.
If the token continues to respect the lower trendline and builds momentum, it could eventually target the upper boundary of the wedge, potentially leading to a significant upside move. A breakout above the pattern would further strengthen the bullish outlook and confirm that the broader uptrend remains intact despite the recent correction.
