Over 15 million USD worth of SUI long positions have been liquidated recently, forcing selling and causing SUI to trade at a weekly low of 4.32 USD. This decline reflects broader market trends impacting altcoins.

Despite bearish price trends, DeFi volumes on SUI have surged to 672 million USD. The total market cap of stablecoins on SUI has increased to 421 million USD, indicating robust interest in the network.

SUI faces a critical price point, with technical analysis suggesting a potential drop to 3.48 USD if the 4.56 USD support fails. Conversely, if buyers reclaim control, the price may rally towards 7.69 USD.