Sui Price Surges Despite Mainnet Network Stall; Technical Analysis Points to Bullish Breakout

2026-01-14 21:46:01

Source: CryptoNewsNet Original Title: Sui price on edge as its mainnet goes through a network stall Original Link:

Network Status and Price Movement

Sui Coin (SUI) was trading at $1.8510, up by approximately 40% from the year’s lowest level, and is hovering near the highest point since November. Its market capitalization has increased to over $7 billion, making it the 17th-largest coin in the industry.

On January 14, the Sui mainnet experienced a significant network stall. The Sui Core team reported they were actively working on a solution. During this period, dApps such as Slush or SuiScan were unavailable, and transactions were slow or temporarily unable to process.

This outage represented a major event for the network following the Cetus Protocol hack that cost users between $223 million and $260 million, affecting over 62,000 users.

Network Metrics and Growth

Sui has become one of the biggest players in the crypto industry. According to DeFi data, the network has a total value locked of over $1.6 billion, up from the December low of $1.35 billion. Some of the biggest protocols in the network are NAVI Protocol, Suilend, Bluefin, and Haedal.

The Sui network has handled over $4.1 billion in volume this month, suggesting the monthly volume will likely cross last month’s $6.6 billion. Its stablecoin market cap stands at nearly $500 million, down from over $1.17 billion in October.

Technical Analysis

The daily chart shows that the Sui Coin price formed a triple-bottom pattern at $1.3214 and a neckline at $1.769. A triple-bottom is a popular bullish reversal pattern.

Sui has made a break-and-retest pattern, a common bullish continuation sign in technical analysis. It has moved above the 50-day Exponential Moving Average and is nearing the 23.6% Fibonacci Retracement level.

The most likely forecast is bullish, with the key target being at $2.50, the 38.2% retracement level. This represents a 30% jump above the current level.

A move below the support at $1.7693 would invalidate the bullish forecast and indicate further downside, potentially to the support level at $1.50.

SUI-0.75%

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