SUI finds itself at the crossroads of strong fundamentals and technical uncertainty. Although the token recently corrected from a new high of $5.25 and is now consolidating just below the $3.50 resistance level, bullish momentum remains alive, fueled by institutional developments and growing on-chain activity.
🔹 SUI Battles $3.50 Resistance
The current price action hovers near the key $3.50 mark, which acts as a short-term resistance and aligns with the Volume-Weighted Average Price (VWAP). Historically, this area served as support but now acts as a ceiling that bulls must reclaim. A breakout above this zone could signal the next leg up, but for now, buyers are facing pressure.
🔹 AMINA Bank Integration & $500M Treasury Support
One of the most significant developments is SUI's partnership with Swiss-based AMINA Bank – the first regulated financial institution to support both SUI token custody and trading services. This milestone lays the groundwork for regulated institutional involvement and adds credibility to the project within traditional finance sectors.
In parallel, Mill City Ventures secured $500 million in government funding to support SUI’s long-term growth, scalability, and expansion into new verticals.
🔹 Surging On-Chain Activity – Record User Growth
Within just 24 hours, over 1.28 million new blockchain accounts were added to the SUI network, bringing the total number of addresses to over 257.9 million. According to CoinGlass, 70.8% of SUI perpetual positions on Binance are long, with a long/short ratio of 2.42, indicating dominant bullish sentiment among traders.
However, open interest dropped to $699.6 million, and the weighted sentiment fell to -0.655. On the flip side, social dominance spiked to 0.973%, suggesting heightened community engagement.
🔹 Key Technical Structure Faces Crucial Test
The daily chart shows SUI consolidating just under the $3.50 resistance, with recent bounce attempts supported by short-term EMA clusters. Analyst CryptoPulse identifies this region as a potential accumulation zone, but only a confirmed breakout above $3.50 would validate a short-term bullish reversal.
Following the rejection at $5.25, the chart has been forming lower highs, indicating cautious market behavior. A clean breakout above $3.50 would open the path toward $4.00 and eventually to the psychological $5.00 target.
Conclusion
SUI continues to consolidate beneath a key resistance level, with strong fundamentals backing its long-term potential. However, bearish sentiment, declining open interest, and failure to reclaim $3.50 point to short-term caution. A confirmed breakout could shift momentum in the bulls’ favor, but until then, the market remains in a wait-and-see mode.
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