Sui Price Surges 6% as Community Approves Cetus Hack Refund Proposal – Is $5 Plausible?

Highlights:

• The price of Sui has soared 6% to $3.67 in the past 24 hours.
• The Sui governors supported the Cetus Hack Refund Proposal in a major governance event.
• Sui’s bullish outlook could propel the token towards $5 if the key support zones hold. 

The Sui price is showing signs of life, surging 6% to $3.67 in the past 24 hours. Its daily trading volume is up 44%, indicating heightened investor confidence. The recent uptrend comes as the Sui community reached a turning point when 52.5% of voters approved the Cetus Hack Refund Proposal, which strengthened its community-led governance and added to its trust. At the same time, the activity in SUI futures markets is going up, which demonstrates high interest from investors.

Community Restores Confidence After Cetus Hack Proposal Approved

Sui governors supported the Cetus Hack Refund Proposal in a major governance event. More than half of the voters agreed to the initiative, and they supported reimbursing users affected by the attack. It did more than send a message; it actually gave back to affected users by using locked tokens and a key loan from the Sui Foundation to restore their funds.

🚨BREAKING: The Cetus Hack Refund Proposal Has Officially Passed With 52.5% Approval ✅

A major step forward in restoring trust and supporting affected users. On-chain recovery begins soon🔥 pic.twitter.com/wloZNDGbAd

— Sui Insiders💧 (@SuiInsiders) May 28, 2025

The Cetus team said it would use the treasury and the borrowed money to support users who were owed stablecoins. They stated that the update was intended to promote joint effort, accept responsibility, and rebuild people’s trust. More than 46.7% of voters did not take part in the election, so there is scope to improve participation. Yet, most voted enough for decisions to have a significant effect.

Sui Price Technical Outlook

SUI has consolidated after breaking out in a bullish trend; it is now trading at $3.67. The daily chart indicates SUI/USD is above both the 50-day and 200-day moving averages, at $3.19 and $3.45, respectively. The movement in both asset classes hints that the bullish trend might continue. The RSI, which is at 53.74, does not show that the price will move strongly in either direction.

There is a slight difference seen in MACD with a negative histogram (-0.0535), showing that recent bullish strength is fading. At the moment, the price is trapped inside a consolidation channel, meaning it could soon break up or down. If the bulls remain in charge, important targets to note are $4.20 and $5.00.

Derivatives Volume Surges Over $5.57B as Long Positions Dominate

SUI energy is displayed on more than just the spot market. It also becomes obvious from derivatives that markets are confident. Derivatives trading volume on SUI went up 32.46% over the past 24 hours and exceeded $5.57 billion. Now, open interest is $1.8 billion, which reflects a rise of 0.57%.

Long/short ratios among Binance and OKX users show they are mostly trading on the buy side, with a strong bias recorded on Binance (1.68 to 1.9) and OKX (1.7). According to these numbers, both retail and institutional investors are expecting another price rise. Analyses indicate shorts are experiencing bigger losses, demonstrating that bulls are charging.

What’s Next for Sui Price?

The network has shown it can hold up through fast and fair governance, recovery efforts by its users, and great technical stability. The community’s trust has been restored by the Cetus refund, and SUI’s chart now indicates it is approaching support zones. The high number of derivatives in the market and those of long positions indicate that an upside-down movement is expected.

If the key support zones hold in the SUI market, the SUI price could surge. In such a case, the $4.12, $4.65, and $5 mark would be the key targets in the coming days. On the downside, if the bears capitalize on the sell signal from the MACD indicator, the Sui price could fall. In such a case, the $3.45, $3.27, and $3.19 support areas will act as a safety net against further downside. Meanwhile, with the basic support level at $3.45 and positive signs that SUI will break its current resistance, the coin may aim to reach $5 if the market holds its course.