Sui Price Plunges 85% Despite Ecosystem Surge

The Sui network has seen an 85% price drop from its peak to $0.74, but this downturn has not derailed the ecosystem's growth. The foundation has been buying back SUI tokens through weekly buybacks, accumulating 600,000 units.

This surge in ecosystem expansion is fueled by rising DeFi activity and a higher number of application launches compared to other competing chains over the past six months. Zero-fee stablecoin transactions are also positioning the chain for AI agent microtransactions.

The price action on the 4h chart remains within Bollinger Bands, with support at $0.70 and resistance at $0.85. The EMA50 acts as overhead resistance at $0.77, while the EMA200 provides nearby structure at $0.75. However, a MACD death cross at -0.02 indicates bearish momentum, and the RSI of 38.02 suggests room for a measured bounce before any sustained reversal.