- Data on the chain showed that $ 40 million in Sui flowed from fairs, which indicates possible accumulation.
- Sui’s open interest-weighted financing percentage was +0.0066%, which reflects a strong purchasing pressure from traders.
After a significant 75% upward rally, Sui [SUI] seemed to introduce a consolidation phase near the key resistance at $ 3.70.
This continuous price correction on the daily graph receives remarkable attention from traders and investors, with some anticipation of an outbreak, while others expect a possible demolition.
Bullish on-chain statistics
Data from Coinglass shows that traders and investors have different views on the Altcoin.
According to Spot -entry/outflow statistics, scholarships around the world witnessed an important outflow of $ 40 million in sui -coins in the past three days.
Of course, such large flow often signal accumulation when traders move coins to portfolios, reducing the exchange rate and potential sales pressure.
Of course this behavior can also dampen the disadvantage during the decline by limiting sudden dumps.
Source: Coinglass
In the meantime, the OI-weighted financing speed of SUI was +0.0066%, which confirmed Bullish pressure from holders of long position.
Source: Coinglass
Data also shows that the Long/Short ratio of Binance Suiussdt was 1.33, which indicates a strong bullish sentiment among traders, which explains the positive financing figure.
In addition, 57% of the top sui traders hold long positions on Binance, while 43% hold short positions.
In addition, Sui traded nearly $ 3.55 at the time of the press and he achieved a win of 0.75%for the past 24 hours. The trading volume increased by 15% in the same period and signaled renewed interest and stronger market participation.
Sui -price promotion and technical analysis
According to the technical analysis of experts, the Altcoin seems to be in a make-or-break situation that could collect or plummet, because it is currently dependent on market sentiment.
On the daily period of time, Sui price seems to consolidate in a tight reach between $ 3.27 and $ 3.83 in the past week.
Source: TradingView
This break came after a 75% rally, fueled by an outbreak of a falling trend line. Of course, this setup now leaves it actively at an important decision point.
If sui closes the daily graph over $ 3.90, this can confirm the outbreak and aim $ 5.50 – a potential movement of 35%.
However, the non -infringement of resistance can make the bullish thesis invalid and lead to a reversal.
