• Sui climbs to $3.93 with a 3.95% daily gain and a 16.3% rise in volume, showing strong market activity.
• Weekly growth of 5.61% reflects steady buying and increasing momentum toward a possible breakout.
• RSI and MACD trends suggest a bullish reversal as the price moves above key short-term moving averages.

Sui is currently trading at $3.93, marking a 3.95% increase over the past day. The 24-hour volume is at $1.7 billion, with a 16.3% rise. This is an increase both in price and volume, a sign of increased market activity. Traders are currently observing the resistance level of $4.00 with a breakout possibility.

Source: CoinMarketCap

Over the past week, Sui has increased by 5.61%. Such an increase in one week may indicate consistent purchasing pressure. The coin is gaining momentum. Analysts are following this trend closely as there is the possibility of a breakout confirmation.

Sui Forms Base for Possible Upside Breakout

Crypto analyst Gemxbt highlighted a change in the chart. Sui has crossed the short-term moving averages. This is usually a leading indicator of trend reversal. In the short term, the support will be $3.70, and there will be resistance at the level of $4.00.

Momentum indicators sustain a bullish position. The RSI is on an uptrend in an oversold position. The MACD is also recording a favourable crossover. The indications point to the possibility of additional gains should the buying pressure be maintained.

Source: X

More Crypto Online, another analyst, mentioned that the existence of two Elliott Waves is possible. The price has already exceeded the 100% extension of wave C. This may be an indication of the possible beginning of rising wave 5. If true, Sui could see a big upswing soon.

Source: X

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Futures Data Shows Rising Bullish Interest

CoinGlass data shows that there is a growing interest in the market. The trading volume increased by 9.84% standing at $5.76 billion. The open interest grew by 2.54%, to a level of $2.39 billion. Such figures indicate the presence of greater activity in futures markets.

The OI-weighted funding rate stands at 0.0066 %. This moderately positive rate is mildly bullish. Leverage positions indicate an upside-down move. Investors are gearing up to take advantage of potential upside.

Source: CoinGlass

The price action of Sui is becoming increasingly robust, and the trading range between the support at $3.70 and the resistance of $4.00 is quite narrow. A movement beyond this resistance may even cause a new phase of a rally.

In the near term, Sui is still performing well. Bullish momentum is indicated by technical indicators, trading volume and price action. If this resistance is broken, then further profits are to be expected in the following sessions.

Also Read: Sui Hits Resistance at $4.25: Will It Surge or Crash Further?