The SUI token is currently trading at approximately $3.49, down 3.09% in the last 24 hours, as conflicting factors shape its near-term outlook. On the bullish side, SUI has formed an ascending triangle pattern since June, with resistance between $4.46 and $4.50 and support around $3.40. A breakout above resistance could target $5.50, representing a 57% upside potential.
Key positive catalysts include its recent listing on Robinhood, which provides millions of U.S. retail investors with direct access to SUI trading. Additionally, weighted sentiment has rebounded to +0.533, indicating renewed optimism. Institutional adoption is growing, with Swiss Bank Sygnum offering custody and trading services, and a former Goldman Sachs executive joining Mysten Labs to lead capital markets integration. The Sui Network also surpassed $80 billion in cumulative DEX volume in H1 2025, with Total Value Locked (TVL) exceeding $2.15 billion.
However, bearish signals are prominent. SUI has declined 16% from its monthly high and 34% from its yearly peak, despite the Robinhood listing. Open interest in futures dropped from $2.66 billion in late July to $1.84 billion, reflecting reduced speculative activity. The long/short ratio fell below 1, indicating more traders are betting on downside moves, and $5.64 million in long positions were liquidated recently. On-chain data shows TVL dropped 11% in a week to $3.4 billion, and stablecoin supply fell 16% to $770 million, signaling reduced liquidity and user engagement.
Technically, SUI broke below its 50-day moving average, with the MACD crossing below its signal line and the RSI at 44, suggesting increasing selling pressure. Immediate support lies at $3.27, with a break below potentially leading to a drop under $3.00. Token unlocks also pose a headwind, with 44 million SUI (worth $171 million) released in August 2025.