SUI Breaks Out technically amidst Growing Open Interest and Network Activity
SUI has demonstrated a significant technical breakout, a move bolstered by increasing open interest (OI) and positive developments in its network fundamentals. Data from DefiLlama indicates a strengthening underlying ecosystem for the cryptocurrency.
Despite the positive technical indicators, analysis of order flow data reveals persistent sell-side pressure. Should SUI’s price successfully establish $4.20 as a support level,a subsequent ascent towards $5.30 and perhaps higher could materialize.
This price movement aligns with earlier predictions by AMBCrypto, which highlighted how speculation surrounding a potential SUI ETF has already stimulated increased interest in SUI futures, reinforcing the prevailing bullish sentiment.
