- SUI’s 63% weekly surge has triggered heavy profit-taking and a 9.67% drop in Open Interest, signaling growing market caution.
- Despite cooling momentum, strong fundamentals and rising DEX volumes suggest bulls may still have room to run.
SUI holders are facing a pivotal moment after a dramatic 63% surge in the past week sent the token to new heights—only to encounter stiff resistance near the $3.50 level. The rally, which briefly took SUI to $3.87, appears to be losing steam, as profit-taking and market caution take center stage.
Currently trading at $3.54, SUI has dipped 8.74% from its local high, and signs of overheating are showing. The Relative Strength Index (RSI), which exceeded 80 during the rally, has begun to cool, signaling that the asset may have been overbought. Simultaneously, Open Interest in SUI futures has fallen 9.67%, suggesting a pullback in leveraged positions as traders reduce exposure.
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Still, not all signals are bearish. Trading volume tells a more complex story. Over the last 24 hours, decentralized exchange (DEX) volume jumped from $338 million to $437.6 million—a sign of sustained market participation. Spot market activity remains strong, fueled in part by ongoing speculation around SUI’s rumored involvement in Web3 gaming, particularly links to Pokémon-style trading card integrations.
Liquidity data, however, indicates growing sell-side pressure. With more tokens now available for sale on both spot and futures markets, traders may be bracing for a short-term correction. Key support is currently being tested at $3.40; if it holds, bulls could make a renewed push toward the $4.00–$4.30 resistance zone.
SUI’s fundamentals remain solid. Backed by Mysten Labs—founded by ex-Meta engineers—the blockchain continues to attract attention for its scalable infrastructure, growing DeFi ecosystem, and active developer base. On-chain metrics show increased user activity, rising stablecoin inflows, and a higher total value locked (TVL) across dApps.
With year-over-year gains of nearly 200%, SUI remains one of the standout performers in the Layer 1 space. Yet as short-term technicals signal caution, investors now face a stress test of their own: ride the momentum—or lock in gains before the next wave hits.
