- SUI is trading at $3.91, holding above key support levels at $3.61 and $3.11 despite a slight daily drop.
- Momentum remains strong with RSI at 62.75 and a positive MACD crossover supporting the ongoing uptrend.
- Open interest is rising while volume dips, suggesting traders are holding positions with growing confidence.
- With resistance between $4.10 and $4.25, a breakout could trigger the next leg higher.
SUI is currently trading at $3.91, down about 2.44% on the day. While this may seem like a setback, the broader trend remains firmly bullish. The price continues to hold well above key support zones, specifically the 20-day EMA at $3.61 and the 200-day EMA at $3.11. This resilience suggests that bulls are still steering the market.
Over the past few weeks, the token has been climbing steadily, even managing to break above the $4 level recently before easing off slightly. This pullback appears more like a healthy pause than a reversal. Momentum indicators are still pointing upward, indicating that the trend may have more room to run.
For instance, the Relative Strength Index (RSI) is currently at 62.75, comfortably in bullish territory, but not yet in overbought conditions. Meanwhile, the MACD remains positive, with the MACD line sitting above the signal line, reinforcing the ongoing uptrend.
That said, the token is hovering near the upper Bollinger Band, which can sometimes signal short-term exhaustion. As a result, we could see some sideways movement or a minor pullback in the coming sessions, a normal development during strong uptrends.
Also Read: SUI Price Surge: Will It Cross $4.10 Resistance or Face Correction?
SUI Volume Dips, But OI and Funding Rate Support
While trading volume has declined by 17.86% to $5.63 billion, open interest has edged up by 1.23%, reaching $2.02 billion. This divergence suggests that although there’s less short-term trading activity, more traders are holding onto their positions, a signal of growing market conviction.
Adding to that, the OI-weighted funding rate currently sits at 0.0150%. This slightly positive rate shows that traders are still paying to keep long positions open, reinforcing the bullish sentiment.
Importantly, the rate remains low, which means the market isn’t overly leveraged or at risk of overheating, another healthy sign for SUI’s ongoing trend.
Bulls Still Have the Edge
All things considered, SUI remains in a strong position both technically and sentiment-wise. As long as the price stays above the key $3.60 support area, bulls are likely to maintain control.
Looking ahead, the next major resistance zone lies between $4.10 and $4.25. If buyers can push past this range, a fresh leg higher could follow soon after.
Also Read : Is SUI the Next Solana? Analysts Predict $50 Target Soon
