• SUI jumped 8.27% to $3.19 with a market cap of $10.84 billion.
  • Resistance lies at $3.40; breaking it could drive a move to $3.85.

Sui (SUI) surged 8.27% in the last 24 hours, climbing to $3.19 after briefly touching an intraday high of $3.20. With a circulating supply of 3.39 billion SUI, its market capitalization rose to $10.84 billion, marking an 8.67% increase. At the same time , its 24-hour trading volume jumped 17.24% to $1.12 billion, pushing the market cap ratio to 10.41%, suggesting rising trader interest.

The fully diluted valuation (FDV) currently stands at $31.96 billion, backed by a total and max supply of 10 billion SUI. This close alignment between the unlocked and circulating market caps underscores a near-complete release of the token supply, reducing dilution risks.

SUI Eyes Breakout as Technicals Hint at Reversal

Technically, the chart displays a rebound from support near $2.90. If bulls maintain pressure, the price may revisit the $3.40 resistance, and if surpassed , could extend toward $3.85. However, failure to hold the current level could drag it back below $3.00, retesting $2.75 as the next support.

Sui (SUI) Surges 8% to $3.19 as Buyers Return, But Resistance Looms at $3.40 image 0

The daily RSI has recovered slightly to 43.03, moving just below its 14-day average of 43.82. This narrow divergence implies mild bearish sentiment, although the RSI’s trajectory hints at a possible bullish reversal if the recovery persists. The RSI remains beneath the 50-neutral mark, reinforcing that the market has yet to regain full strength.

The Chaikin Money Flow (CMF), currently at -0.11, indicates continued capital outflows. While negative, the CMF’s uptick from lower levels shows a decline in selling pressure. This modest improvement suggests that accumulation might be underway despite broader weakness in momentum.

No imminent bullish crossover is evident in the moving averages. The price stays below its short-term average, confirming downward pressure. Still, today’s strong green candle could attract buyers eyeing a breakout . Volume surged to 43.84 million SUI, confirming renewed activity around the $3.00 psychological barrier.

If resistance levels fall, the move could spark a short squeeze, encouraging rapid upside. However, lingering outflows and the RSI’s sluggish pace demand caution. Any decisive break above $3.40 would invalidate the recent downtrend and establish a new short-term bullish outlook for SUI.

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