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Sui (SUI) has officially broken out of its multi-month symmetrical triangle pattern, signaling renewed bullish momentum. The token surged 7.21% in the last 24 hours, trading at $4.03 at press time. With this technical breakout now confirmed, eyes are turning to $4.20 as the next key resistance level—one that must flip into support for the rally to sustain its upward trajectory toward $5.30 and beyond.
Order Flow Data Signals Caution Despite Price Action
Despite the strong breakout, market order flow suggests sellers are still dominant. The Spot Taker Cumulative Volume Delta (CVD) over the last 90 days shows that traders are continuing to sell into strength, shorting the rally instead of backing it. This divergence between price action and market behavior signals early profit-taking or skepticism about the breakout’s sustainability.
While this isn’t unusual during early breakout phases, it underscores the importance of $4.20 as a pivot level. A decisive close above this mark, backed by strong buying volume, would likely invalidate short-term bearish pressure.
Rising Open Interest Suggests Renewed Speculation
Open Interest (OI) surged 16.06% to $2.12 billion, indicating a rise in speculative and hedging activity. This uptick supports the idea of trend expansion and increasing trader engagement. However, it also elevates liquidation risks in the event of a sharp reversal. Combined with the breakout, the OI spike lends weight to the bullish thesis, provided $4.20 can be reclaimed as a support zone.
Also Read: Floki Inu Reclaims Top 100 as Price Surges — Will It Reach $0.0002 Next?
Fundamentals and Social Buzz Fuel Confidence
Beyond charts and trading metrics, fundamentals are aligning in SUI’s favor. Total Value Locked (TVL) on the network climbed 26.84% month-to-date, topping $2.17 billion—evidence of growing ecosystem adoption and user confidence. Additionally, SUI’s social dominance rose to 0.966%, a sign that retail attention is returning.
These metrics add depth to the rally, suggesting it’s not purely driven by hype but also supported by genuine network growth and DeFi participation.
Eyes on $4.20 for Next Major Move
SUI is poised for significant upside—but only if bulls can convert $4.20 into a reliable support level. With strong technical signals, surging OI, rising TVL, and growing social engagement, the groundwork for a sustained rally is forming. However, sell-side resistance must first be overcome for the token to target $5.30 and beyond.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
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