SUI continues to remain above a critical price band, supported by the increase in in-network activity, despite the recently weakened derivatives market interest. While the asset was traded at $0.7324 at the time the news was published, it decreased by 0.89 percent in the last 24 hours. Despite this, the support level around $0.70 is maintained.
Support zone and technical view
On the daily chart, SUI remains above support near $0.70 after months of downward movement. Defending this region several times prevented the sales from going deeper for now. On the other hand, trading volume remains low and the market is waiting for a sign of stronger direction.
A limited improvement is also notable in technical indicators. The MACD histogram is turning positive and the MACD line is approaching an upward crossover. Although this chart indicates that the selling pressure has eased, the $0.757 resistance must be overcome with strong volume to confirm the direction change.
Signals of weakening selling pressure in SUI are getting stronger, but a clear break above $0.757 seems necessary for a permanent recovery.
Community optimism diverges from derivatives market caution
In the last post made by Sui Community on the Sui Community is known as the community account that shares content around the network. Although this optimistic tone shows that individual investor interest remains alive, there is not an equally strong outlook in leveraged transactions.
Sui Community highlights the expectation of a strong return for SUI, emphasizing that the network is developing rapidly and trying to differentiate itself from similar projects.
The positive expectation of the community, together with the technical outlook, can only find a stronger ground if the resistance zone is overcome. A sustained move above $0.757 stands out as the main threshold supporting the bullish scenario.
Network data paints a stronger picture beyond price
On-chain data offers a more balanced view than price action. According to DefiLlama data, while the total locked asset value in the SUI network remained stable at approximately 430 million dollars, the number of daily active addresses increased significantly in July.
As a platform that tracks decentralized finance data, DefiLlama compiles key indicators such as total locked asset value. TVL refers to the total capital locked in a network or application and gives an important signal about the level of usage in the ecosystem.
Mini dictionary: TVL is the dollar equivalent of the total assets locked to applications in a blockchain ecosystem. Open interest shows the total position size that has not yet been closed in futures and similar contracts.
| Indicator | latest situation |
|---|---|
| Price | $0.7324 |
| Support | $0.70 |
| Resistance | $0.757 |
| TVL | $430 million |
| open interest | decreased from 700 million dollars to 600 million dollars |
The increase in user activity indicates that the network continues to be used despite price pressure. The fact that TVL remains flat and active addresses rise shows that users continue to interact with the ecosystem rather than withdrawing capital.
While open interest decreases, the level monitored does not change
According to CoinGlass data, open interest dropped from approximately $700 million to $600 million. CoinGlass stands out as a data platform that tracks open positions and liquidation data in derivative markets. This decline in open interest reveals that investors have reduced their leveraged positions.
This weakening in speculative transactions is considered to be one of the factors that explains why SUI has not yet overcome the $ 0.757 resistance, despite the increase in on-chain activity. For now, SUI remains in a horizontal squeeze. A sustained move above $0.757 could strengthen bullish sentiment; A drop below $0.70 may trigger new selling pressure.
