Sui (SUI), the native token of the Sui blockchain, traded around $0.7246 on Tuesday, reflecting a slight 0.33% gain for the session. With more than 4 billion SUI tokens circulating from its 10 billion maximum supply, the current market capitalization stands at $2.97 billion.
Rising trading volumes, focus on resistance
Daily derivatives trading volume in SUI reached $607.97 million, while spot market volume came in at $104.45 million. Open interest totaled $581.34 million, according to the latest figures. This data points to robust activity around current price levels, despite the token’s ongoing struggle to overcome resistance levels.
Market attention remains fixed on the $0.7641 region. Technical analysts suggest a four-hour candle close above this threshold on Binance could confirm a breakout through the descending trendline that has capped price advances for several weeks.
If SUI manages to push higher, the next resistance band sits at $0.9564, with the psychologically important $1.00 mark just beyond. On the downside, a close below the $0.6510 level could bring $0.5670 into play as a support target.
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AAPLSui is a Layer 1 blockchain designed for high throughput and low latency. It aims to support decentralized applications and scalable smart contracts.
Mini dictionary: Sui (SUI), a Layer 1 blockchain aiming to support fast transactions and scalable decentralized applications.
| Price level | Significance |
|---|---|
| $0.7641 | Breakout resistance (4-hour close) |
| $0.9564 | Next resistance |
| $1.00 | Psychological barrier |
| $0.6510 | Key support |
| $0.5670 | Lower support |
Liquidations highlight long-side risk
Liquidation data from analytics provider CoinGlass reveals that recent market volatility has impacted bullish traders most heavily. In the past 24 hours, forced closures on long positions reached $525,940, while short liquidations totaled only $75,160. This suggests many bulls have been overleveraged in attempts to time a reversal.
Over the preceding 24 hours, long liquidations reached $525,940 versus merely $75,160 in short liquidations, reflecting a substantial imbalance that indicates leveraged bulls have already faced significant losses attempting premature bottom calls.
By contrast, the last four-hour period saw short liquidations slightly ahead at $11,050, compared to $3,780 in long liquidations. Analysts interpret this as early signs of stress for bears as resistance levels are tested.
On Binance, professional traders currently favor long positions, maintaining a 2.63 long-to-short ratio and a 72.5% long bias. Retail traders show similar sentiment, with 66.9% of positions aligned long. The current taker buy-to-sell ratio stands at 1.22, signaling that buying demand remains prevalent, even while the token struggles to break above the $0.74 mark.
Technical indicators and analyst insights
Technical readings show the daily MACD histogram balancing near zero, reflecting a lack of clear momentum for either bulls or bears. The Stochastic indicator sits at 13.59, deep in the oversold range, which may signal potential for a price rebound. Bollinger Bands analysis finds SUI trading closer to the lower band—an area often watched for possible price reversals.
Prominent market analyst Ali Charts noted on X (formerly Twitter) that the TD Sequential indicator on the daily chart has flashed a buy signal. Ali Charts views this as a sign the recent SUI price correction may be ending, opening the door for a recovery over the next one to four daily candles or possibly the start of a new bullish countdown.
The TD Sequential is flashing a buy signal on the SUI daily chart, suggesting the recent correction could be nearing its end. This indicator points to a potential 1–4 daily candlestick rebound or the beginning of a new bullish countdown.
Despite technical signals pointing to a possible turn, spot volume on Binance remains modest at $41.3 million. Some market watchers believe this could limit the immediate upside unless fresh momentum emerges.
The 200-day moving average sits at $0.85 and is considered an important level to reclaim for a convincing shift to a bullish trend.
