SUI Surges 9.01% as User Growth Drives Bullish Momentum

SUI, a prominent cryptocurrency, has recently surged by 8%, nearing a breakout from a symmetrical triangle pattern that it has been coiling within for months. This price movement reflects significant user growth and adoption, with the network surpassing 225 million total accounts. Buyers have gradually reclaimed higher lows after testing lower supports repeatedly, pushing SUI to $3.53, marking a 9.01% intraday gain. This move has brought the price closer to the triangle’s upper boundary, suggesting a potential for significant bullish momentum if the breakout is sustained above $3.50.

The tightening price structure now puts bulls in a position to take control, provided volume and sentiment continue to align in their favor. Over the last 90 days, derivatives traders have shown dominant buyer activity, with takers consistently executing more buy orders than sells. This cumulative buy-side aggression signals increasing confidence among traders and strengthens the bullish triangle thesis. The persistent buyer dominance could act as a strong support mechanism against short-term attempts to push prices lower, potentially leading to a breakout above the triangle.

Open Interest (OI) has increased by 12.67%, reaching $1.59 billion across derivatives markets. This jump in open contracts reflects greater participation and risk exposure as traders prepare for a directional move. The rise in OI suggests that capital is entering the market with expectations of volatility, potentially from a triangle breakout. The combination of rising OI and bullish Taker CVD reinforces the probability of a continuation to the upside. However, if bulls fail to follow through, leveraged longs could face heightened downside risk.

Short liquidations have reached $1.27 million, nearly double the $641.92K in long liquidations. These spikes occurred across major exchanges, reflecting intense pressure on bearish positions. This imbalance shows that sellers are increasingly getting caught offside as the price climbs. Short liquidations are often associated with rapid upward wicks, further driving bullish momentum. The recent liquidation trend adds fuel to the current rally and may trigger additional upside if shorts continue to unwind.

SUI’s current setup shows a tightening pattern, dominant buyer presence, rising OI, and short-side liquidations—all signs favoring a bullish resolution. However, the breakout must be sustained above $3.5 to confirm a trend shift and avoid a fakeout. If buyers maintain momentum, SUI could rally further, but failure to close above this key level may attract renewed selling pressure. The outcome will depend on whether bulls can maintain control and drive the price higher, or if bears regain strength and push the price back down.