$SUI Incar Further Increases Amid Highest TVL and Open InterestšÆšÆšš
Coinglass data shows that Open Interest (OI) for SUI rose to $2.66 billion, up from $2.36 billion on Sunday. The $30 million surge in the last 24 hours indicates significant capital inflow, likely driven by increasing interest among traders.Ā
The funding rate based on OI stands at 0.0198%, up from 0.0129% on Sunday, indicating increased buying activity with rising capital inflow. Typically, a surge in the funding rate represents a spike in buying pressure as buyers pay a positive rate to keep swap and spot prices aligned.Ā
The Moving Average Convergence Divergence (MACD) has bounced off its signal line with a spike in green histogram bars from the zero line, indicating that buyers are working hard against a trend reversal.
š„If SUI maintains bullish momentum, this coin could continue its rally to the Fibonacci level of 78.6% at $4.58. A potential close above this level would enhance SUI's chances of reclaiming the $5 milestone.Ā
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