SUI is holding steady above $0.70, currently trading at $0.7324 after a slight dip of 0.89% in the last day. This stability comes amid growing on-chain activity that offsets a decrease in derivatives market involvement.
Active addresses have climbed in July, signaling strong user engagement even as trading volume remains low and the price struggles near resistance at $0.757. The daily chart shows multiple attempts to defend the $0.70 support level, preventing a further slide after months of decline.
Meanwhile, technical indicators point to easing selling pressure. The MACD histogram has turned positive and the MACD line edges closer to a bullish crossover, though a move above $0.757 with higher volume is needed to confirm any momentum shift.
A recent post from the Sui Community describes SUI as a potential standout in the next market upswing, reflecting growing retail optimism. However, open interest data shows leveraged traders remain cautious, keeping the market in balance.
On-chain data from DefiLlama reveals SUI's total value locked holds firm near $430 million, while active daily addresses rise significantly, highlighting ongoing ecosystem use over simple capital withdrawal.
This combination of steady TVL and rising user activity contrasts with shrinking open interest in derivatives, demonstrating a split between spot support and speculative trading. SUI's path upward depends heavily on breaking resistance with solid volume behind it.
This content is for informational purposes and is not financial advice.
