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SUI has been on a surprising run over the last two days, climbing more than 30% during a period when many tokens are only beginning to recover. The size of its move has been loud enough, especially because the token has been sliding inside a falling channel for months.

A quick look at the chart reveals the first big clue. The price touched the base of a long-running falling channel that has acted as support two other times in the past year. Each touch created a strong rebound. The latest move appears to be following the same pattern.

SUI Price Chart

The chart shows a clear liquidity zone wrapped around the lower trendline. Once SUI returned to that zone, buyers did not hesitate. The market saw that area as a bargain level, which triggered a wave of fresh accumulation. This surge flipped momentum and sent the price moving away from the trendline once again.

The current bounce is also pushing SUI closer to the top of the channel. A continued spike could carry the price toward $3.3 in the coming days. The structure looks similar to previous rebounds, although the token still needs stronger volume to challenge the upper trendline convincingly.

Key Daily Indicators Showing A Mixed Yet Improving Picture

The daily chart indicators add another layer to the story. Several tools are leaning bullish, although a few caution signals still remain. These readings capture the growing shift in momentum.

Name Value Action RSI (14) 48.953 Neutral momentum MACD (12,26) -0.135 Bearish crossover ADX (14) 28.148 Trend strength improving CCI (14) 193.0089 Strong upside pressure Highs/Lows (14) 0.1259 Bullish short term direction Ultimate Oscillator 48.274 Weak buying strength

The indicators show that direction is not fully aligned yet. Momentum tools such as ADX, CCI, and Highs Lows point toward strength returning to the market. Trend indicators like MACD and Ultimate Oscillator remain slow, which suggests that buyers still need to defend current levels to avoid another pullback. The mix highlights the importance of caution because early uptrends often produce conflicting signals before settling into a clearer direction.

SUI Price Boost From Coinbase NY Listing

A major catalyst arrived on December 2 when SUI became tradable for New York residents on Coinbase. New York is a tightly regulated market, so approval tends to draw more attention. The listing immediately expanded the token’s reach inside a region responsible for a significant share of United States crypto activity.

The most direct impact appeared in trading volume. SUI recorded $1.85B in 24-hour activity, which represented almost double the previous day’s turnover. The new market access reduced friction for buyers who had been waiting on regulatory clearance, and it also improved liquidity conditions for larger transactions.

The listing also helped address long-standing concerns about the token’s accessibility in the United States. That improvement came at a moment when ETF speculation has been growing, which added fresh energy to the narrative surrounding the ecosystem.

SUI Price Holding Strong After Large Token Unlock

Another unexpected factor is SUI’s reaction to the latest unlock. A total of 55.54M tokens entered circulation on November 30. The value of that release was about $94.9M at the time, which usually creates sell pressure. SUI moved differently this time. The price rose by 21% after the unlock instead of dropping.

The reaction suggests that larger buyers absorbed the released supply. Circulating supply has now reached 3.74B, which represents 37.4 percent of the total supply. The strong bounce supports the Sui Foundation’s recent comments that unlocks are aligned with long-term ecosystem growth. A larger unlock of about $206M is scheduled for December, so the next wave could still create pressure if demand weakens.

Ecosystem Growth Playing A Bigger Role In SUI Price Action

SUI has also benefited from real growth inside its network throughout 2024 and 2025. DeFi TVL crossed $1B in 2024 after rising from roughly $500M earlier that year. Protocols such as Cetus pushed more than $5.5B in monthly volume, while Navi reached about $534M in TVL. Native stablecoins like USDsui and USDC on Sui crossed $1.24B, and daily stablecoin transfers hit $2.4B in November 2025.

Gaming adoption increased across SuiPlay0X1 with more than 70 titles active. Cross-chain liquidity from BTCfi integrations added another layer of demand, representing about 10 percent of total TVL. These developments strengthened the case for SUI as both a gas token and a governance asset.

Historical patterns inside the ecosystem also show that TVL spikes often come before price rallies. A similar move appeared in September 2024 when SUI gained about 65 percent shortly after DeFi TVL passed $1B.

Supply Pressure From Future Token Unlocks Still A Risk

SUI’s supply distribution continues to shape price behavior. Circulating supply stands at 3.74B out of a planned 10B. A $128M unlock is scheduled for August 1, 2025. The recent November unlock worth $86.8M was absorbed smoothly, partly due to the Coinbase NY listing. The next cycles may not always find the same level of demand from large buyers.

Historical post unlock periods have produced dips of 8 to 15 percent when early investors chose to realize profits. The Cetus exploit in May 2025 was a recent example where an unlock aligned with a broader market shock and created an 8 percent decline.

Read Also: Selling Shiba Inu (SHIB) Now? Here’s Why You Might Regret It

Institutional And Regulatory Developments Creating A Mixed Outlook

ETF proposals for SUI from 21Shares and Canary Capital remain under review by the SEC until January 2026. ETF approval could change the token’s profile significantly, similar to the inflows that reshaped Bitcoin after its ETF launch in early 2024. Delays could also keep the price trapped inside its long-term channel.

Institutional activity continues to grow. Mill City Ventures allocated 98 percent of a $450M raise to SUI holdings, and AMINA Bank added custody services in August 2025. Sui Group also holds about $344M in SUI, which stabilizes the supply but concentrates ownership among fewer hands.

SUI’s latest surge comes from a combination of technical, fundamental, and regulatory catalysts. The bounce from a major liquidity zone triggered the initial move. The Coinbase NY listing multiplied trading activity. DeFi expansion and stablecoin growth supported long-term interest. Token unlock absorption showed unexpected strength. The path ahead still carries challenges, especially around supply pressure and ETF uncertainty.

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The post Here’s Exactly Why SUI Price Is Pumping appeared first on CaptainAltcoin.