SUI Eyes $5.36 as Breakout Above $4 Gains Momentum

Sui (SUI) has surged nearly 12% in the past 24 hours, currently trading around $3.90 as bulls target a decisive breakout above the $4 resistance level. A successful breach could trigger a 40% rally toward $5.36—a price point last tested in January 2025.

The price movement coincides with record network activity. Sui's Total Value Locked (TVL) reached $2.20 billion, marking an 8.74% daily increase. Derivatives markets reflect this bullish sentiment, with open interest jumping 19% to $1.73 billion. Positive funding rates and significant short liquidations suggest continued upward pressure.

Technical indicators support the bullish outlook. The Money FLOW Index stands at 78, signaling strong capital inflows. Analysts highlight that SUI recently broke a key resistance trendline after a 20% weekly gain, further reinforcing the positive momentum.