After a major exploit shook the largest decentralized exchange, the SUI blockchain is showing signs of recovery – both from a technical perspective and in terms of market sentiment.

Approximately $162 million in stolen assets related to a smart contract attack were frozen on the SUI network thanks to an emergency maneuver by the network's validators, who selectively blocked activity from the hacker's addresses. However, another $60 million ended up in Ethereum and remain inaccessible for direct access.
To recover the remaining part, the Cetus team and the SUI Foundation are coordinating their efforts and even offered a $6 million reward to the hacker in exchange for the return of Ethereum, promising not to take legal action if the funds remain untouched.
Despite the breakthrough, the native token of SUI has risen by almost 4%, as traders are not worried about concerns regarding centralization. An official statement clarifies that validators have independently chosen to block addresses and can revoke these decisions at their discretion.
From a technical point of view, the trader "Michael_EWpro" believes that SUI is finishing a classic Elliott wave correction. His chart indicates a potential bottom around $1.50 – $1.80, with a possible strong bounce that could push the asset up to $20. Volume data also shows minimal resistance between $4 and $10, which could support an explosive move if the trend reverses.
Although short-term pressure is not ruled out, the bulls are watching closely for signs of a breakout, especially if SUI confirms its next rise from the area around $2.