Sui Pushes Toward $1 While One Indicator Quietly Urges Caution Now

Sui(SUI) jumped about 14% in 24 hours on Monday, nearing $1 as analysts linked the move to money rotating into Layer 1 tokens. Key Points: Sui gained about 14% in a day and 30.2% over the past week, with daily trading volume up 26%. Open interest rose roughly 21%, and Near and Avalanche posted double-digit gains alongside it. Traders point to $1.05 as the level that would confirm a breakout, after a failed attempt in May. Sui Price Surge The token rallied nearly 14% over the past 24 hours and 30.2% over the past week, while daily trading volume climbed 26%. Open interest in Sui derivatives rose about 21% across the same stretch, a shift analysts read as traders opening fresh positions rather than closing out old ones. Sui traded near $0.936 on Monday after opening the session at $0.8974 and touching an intraday high of $0.9546. Liquidations over the previous 24 hours totaled roughly $4.53 million, split almost evenly between long and short positions. That balance points to a choppy, two-way market rather than a one-sided squeeze on bearish traders. The rally arrived as Bitcoin(BTC)held near $81,500 and the total value of the crypto market approached $2.8 trillion on global volume of about $76.3 billion. Near(NEAR) and Avalanche(AVAX) posted double-digit gains of their own, with the Fear and Greed Index at 72 and Bitcoin dominance holding close to 58.5% of the market. Also Read:Polymarket Bug Let Thieves Walk Into Accounts Without A Password SUI $1.05 Resistance Analysts tie the run to capital rotating into Layer 1 tokens, several of which have climbed sharply this month. They describe the band between $0.95 and $1.05 as the decisive test for the token, with $1.03 and $1.15 marked as the next technical targets on the way up. A close above $1.05, followed by a retest of that zone as support, would give swing traders a cleaner signal to buy back in. Until then, the advice is to take partial profits and wait. Indicators on the four-hour chart remain firmly bullish, though the RSI has climbed into overbought territory. Readings above the 70 mark signal stretched conditions and often precede a pause rather than a second leg higher, and about 13.26 million Sui tokens are due to unlock on Oct. 1. The $1.05 area has tripped Sui up before, with a false breakout above the zone in May that analysts still cite as a caution. In August the token ran from $0.635 to $0.954 in under five days, ending a consolidation near $0.70 that had held since June, then gave back most of the move to $0.673.