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3d ago

SUI Holds $4 Level After Rally and Eyes Next Breakout

Robust on-chain growth has boosted SUI’s ecosystem despite stronger dollar pressure

SUI
SUI bulls hold on as $5 comes into view - Can it happen?
Sui token drops nearly 6% after brief spike as stronger u.s. dollar pressures crypto market
Sui soars 15% as analysts predict breakout to as high as $10 on surging momentum

Overview

  • SUI fell 5.8% over 24 hours to about $4.04, retracing from its July 26 peak at $4.23 while maintaining support above $4.00.
  • On-chain data for July shows decentralized exchange volume surged to $10.3 billion, a 657% year-on-year increase, and total value locked topped $3 billion.
  • Open interest in SUI derivatives jumped to roughly $2.7 billion, up over 16% in the past week as institutional and speculative trading accelerated.
  • Technical analysis points to resistance between $4.20 and $4.24, with market commentators eyeing a retest of $5.00 to $5.35 if that zone flips to support.
  • Broader crypto headwinds from a stronger U.S. dollar and upcoming token unlocks present potential volatility risks despite the confirmed bullish breakout.