- Active Sui addresses rose by 55,522; transaction volume grew 7.15%, exceeding Ethereum, Arbitrum, and Optimism’s combined daily activity.
- Open interest climbed; long/short ratio hit 2.3, signaling optimism, but neutral RSI suggests short-term volatility risks.
The price of Sui (SUI) rose 10.52% in the last 24 hours, climbing from a key support level of $2.85 to trade at $3.31 at the time of ETHNews reporting. This upward movement follows weeks of declining prices, with technical indicators now suggesting a potential shift in market behavior.
The Relative Strength Index (RSI), a measure of buying and selling pressure, registered 45 on shorter time frames, reflecting neutral sentiment after prolonged bearish conditions. ETHNews analysts note that maintaining the $2.85-$3.00 support range could reinforce upward trends in broader market analyses.
Market observers have outlined ambitious price targets for SUI. Solberg Invest, a financial analysis group, stated on social media platform X that the asset could exceed its all-time high of $5.35 if bullish conditions persist.
The group further identified $6.16 and $7.22 as potential resistance levels, contingent on sustained buying pressure. These projections align with recent on-chain data showing increased activity across the Sui Network.
Blockchain metrics from OKlink reveal a 55,522 rise in active Sui addresses within 24 hours, alongside a 102,883 increase in total addresses. Trading volume grew 7.15% during the same period.
Separately, crypto analyst Giannis Andreou highlighted that Sui’s daily transaction volume currently surpasses the combined totals of Ethereum, Arbitrum, and Optimism—a comparison underscoring its accelerating adoption.
While exact 2025 projections remain speculative, the network’s consistent growth in transaction counts has drawn attention.
Market sentiment data from Coinglass shows a rise in 24-hour Open Interest for SUI, indicating renewed trader participation. The Long-to-Short Ratio on major exchanges stood at 2.3, favoring buyers.
This ratio, which measures the proportion of bullish versus bearish positions, suggests traders anticipate further price gains. However, the asset’s neutral RSI reading implies that short-term volatility remains possible.
