- SUI rebounds from $2.00 support, eyeing a move toward the $2.40 to $2.45 resistance range.
- Derivatives activity rises 14.56% to $2.22B, showing expanding trader participation and market stability.
- Balanced long-to-short ratios and steady liquidity indicate sustained confidence in SUI’s short-term recovery.
SUI is showing a short-term recovery after bouncing from the bottom of its descending channel. Recent price movements indicate renewed buying activity after a period of downward pressure. If momentum continues, the price could look to retest the upper channel resistance around $2.4. A clean breakout from this range could signal a trend shift toward a short-term bullish structure.
SUI Shows Renewed Momentum and Market Recovery
According to Crypto Pulse, SUI has rebounded from its recent lows near the $2.00 mark after trading within a descending channel since October. The token is currently priced near $2.17, recording a 1.28 percent intraday gain as trading volume reached 950.31K. The upper boundary of the descending channel lies between $2.40 and $2.45, representing a short-term resistance area.
If the buying pressure persists, a near-term re-test on this level may be possible. Data from CoinGecko shows SUI rising by 7.0% in the past 24 hours, trading at $2.10 within a daily range of $1.94 to $2.19.
Market capitalization is $7.72 billion with the fully diluted valuation at $20.98 billion. The circulating supply is 3.68 billion SUI out of a maximum supply of 10 billion tokens. Trading volume was $1.33 billion, an indication of consistency and liquidity.
Derivatives Market Shows Growing Activity and Balanced Positioning
According to data from Coinglass, the SUI derivatives market recorded increased activity, with trading volume rising by 14.56 percent to $2.22 billion. Open interest advanced by 1.93 percent to $800.66 million, showing expanding participation in active contracts. The long to short ratio was at 0.979 which shows that there was a 24-hour equilibrium between the traders.
On Binance, the SUI/USDT long-to-short ratio by accounts reached 1.9223, while OKX reported 1.86. Top Binance traders showed stronger optimism, with account ratios at 2.1017 and position ratios at 2.2399. Liquidation data showed controlled levels, totaling $2.07 million over 24 hours.
Long positions accounted for $882.43K, and shorts reached $1.19 million. Overall, SUI continues to stabilize above the $2.00 support level. If momentum continues, price may reach the upper resistance at around $2.4 and a confirmed breakout may signal a change of trend.
