SUI Surges Toward $4.18 Amid Bullish Momentum
Key Takeaways
- SUI is approaching the resistance level at USD $4.18 with strong upward momentum
- Derivatives market shows increasing long positions and bullish sentiment
- Technical “Cup and Handle” pattern could support a breakout
- Short positions worth USD $1.64 million were liquidated
- Total Value Locked (TVL) reaches record high of USD $2.2 billion
Strong Fundamentals Drive SUI Higher
SUI, the native token of the blockchain of the same name, is currently showing clear signs of a bullish market phase. On May 22, 2025, the Total Value Locked (TVL) in the SUI ecosystem reached a new all-time high of USD $2.2 billion. This marks a 222% increase over the past year. TVL measures how much capital is locked in decentralized finance (DeFi) applications on a blockchain—a direct indicator of activity and trust in the network.
Derivatives Market: Long Traders Take Control
The derivatives trading around SUI is seeing a significant rise in interest. Open interest—the volume of outstanding positions—rose by 31.3% to USD $1.76 billion. At the same time, the volume-weighted funding rate turned positive (0.011%). This means that traders with long positions are now paying a fee to maintain their positions. This behaviour indicates a clear dominance of the bulls and signals rising expectations for further price increases.
Technical Analysis: Cup and Handle Pattern in Focus
From a technical perspective, SUI is currently forming a so-called “Cup and Handle” structure. This pattern consists of a rounded bottom (the “cup”) followed by a smaller consolidation (the “handle”). It is considered a potential continuation pattern for upward trends. The critical resistance lies at USD $4.18. A sustained breakout above this level—ideally accompanied by high trading volume—could trigger a new upward wave. If the breakout fails, a short-term correction is possible.
Short Squeeze Amplifies Upward Movement
In recent trading sessions, short positions worth USD $1.64 million were liquidated. The largest losses occurred on the platforms Bybit and Binance. These liquidations occur when traders bet on falling prices but the market rises—in such cases, their positions are forcibly closed. In contrast, long liquidations remained low at USD $84,720. This shows that the majority of market participants continue to bet on rising prices.
Indicators Confirm Bullish Trend
Two key technical indicators support the positive outlook: The MACD (Moving Average Convergence Divergence) is on the verge of a bullish crossover—a signal for emerging upward momentum. At the same time, the RSI (Relative Strength Index) stands at 67.42. This indicates strong buying power without the market being overbought. Both indicators point to a continuation of the current trend.
Our Assessment
SUI is currently showing a strong combination of fundamental strength and technical support. The increase in TVL to a record level, the growing open interest in the derivatives market, and the positive funding rate highlight investor confidence. The Cup and Handle formation could act as a catalyst for a breakout above the USD $4.18 level. If this breakout succeeds, a transition into a price discovery phase is likely. In the short term, the risk of a pullback remains, but the broader signals point to a continuation of the upward trend.
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