- SUI is in the hot seat – Caught in a high-stakes tug-of-war between bulls and bears
- Underwater holders are now back in profit and turning heads across the market.
If there’s one coin owing to which bulls and bears are throwing punches for control, it’s Sui [SUI]. And, can you blame them? A fiery 63% weekly rally just shoved SUI into the high-cap zone. In short, it turned underwater holders into eager sellers.
Don’t be fooled though. According to AMBCrypto, this isn’t just another flash-in-the-pan “hype.”
SUI’s fundamentals have been on the charge, with explosive growth in accounts, stablecoin inflows, and Total Value Locked [TVL]. All these findings hinted at real momentum beneath the surface.
Now that the crypto has shattered its $3.50 resistance, investors are scrambling to adjust their portfolios. Especially as the fear of a pullback hangs heavy.
So, with bulls and bears duking it out, will conviction hold strong throughout this battle?
When momentum fades, reality sets in
Quick cruise down the price lane – SUI, at press time, was cruising at $3.53, marking a sharp 8.74% drop from its peak of $3.87 just a day ago.
And, let’s be real – That kind of drop after a hot streak can send traders scrambling for the exits.
Meanwhile, the RSI seemed to be sizzling above 80, basically screaming “overcooked.” For anyone watching the charts, that’s usually the point where a cool-down or plot twist sneaks in.
Source: TradingView (SUI/USDT)
And yet, SUI’s trading volume actually climbed up by 8.74%, hitting $1.85 billion. Also, the DEX (Decentralized Exchange) volume jumped from $338 million to a hot $437.6 million.
So, while the price action might be cooling off, the crowd’s still piling in. That’s where the on-chain metrics come into play – Keeping an eye on these will be clutch in the coming days.
As the momentum starts to run low, these fundamentals could be the reality check everyone’s waiting for.
For now, the bulls are holding strong, with SUI soaking up both technical heat and psychological pressure like a pro.
Looking closer at SUI for clarity
To figure out where SUI stands in this high-stakes tug-of-war, AMBCrypto took a closer peek at the 4-hour chart. We found that the RSI is starting to head south.
Translation? The heat’s cooling, and the bears smell an opening.
Meanwhile, holders are stuck in that age-old crypto struggle – HODL and hope, or cash out while the going’s good?
And, the cracks are already showing. Open Interest (OI) just slid by a hefty 9.67% – A red flag that leverage is unwinding fast. Sell-side liquidity? It’s been warming up on both Spot and Futures fronts.
In short, your patience is about to face a real stress test. The next few days will draw the line between diamond hands and panic sellers.
For now, the bulls still have some bite, but the stakes are rising fast.