‍#夏日创作营

‍#SUI
SUI continues to hold above the $0.70 support level.

SUI remains above the $0.70 support level.

The rise in active addresses in July indicates sustained user interest in the $SUI network.

Open interest has declined from $700 million to $600 million.

Expectations for a rally could gain momentum if the $0.757 resistance level is breached.

Despite waning interest in the derivatives market recently, SUI remains above a critical price range, supported by increased on-chain activity. The asset is trading at $0.7324, having declined 0.89% over the last 24 hours; nevertheless, the support level around $0.70 is holding firm.

Support zone and technical outlook

The daily chart shows SUI holding above the support level near $0.70 following a months-long downward trend. Successful defense of this zone on multiple occasions has so far prevented a deeper sell-off. However, trading volume remains low as the market awaits a clearer signal regarding the asset's direction.

Technical indicators show signs of limited improvement. The MACD histogram has turned positive, and the MACD line is nearing a bullish crossover. While this suggests easing selling pressure, a decisive break above the $0.757 resistance level—accompanied by strong volume—is required to confirm a trend reversal.

Signals indicating a reduction in selling pressure on SUI are strengthening, yet a clear break above $0.757 appears necessary for a sustained recovery.
Divergence between community optimism and derivatives market caution

A recent post by the Sui Community—an account dedicated to sharing content about the network—suggests that SUI could be a standout asset during the upcoming bullish phase and anticipates a strong rebound. While this optimistic tone indicates sustained interest from retail investors, the outlook for leveraged trading is not as robust.

Highlighting the network's rapid development and its efforts to differentiate itself from similar projects, the Sui Community emphasizes the expectation of a strong recovery for SUI.

The community's positive outlook—and the technical setup—could gain stronger footing only if the resistance zone is breached. A sustained move above $0.757 stands out as the key threshold supporting the bullish scenario.

Network data paints a stronger picture than price action alone

On-chain data presents a more balanced outlook than the price movement suggests. According to the data, the Total Value Locked (TVL) on the SUI network has remained stable at approximately $430 million, while the number of daily active addresses saw a significant increase in July.

TVL refers to the total capital locked within a network or application and serves as a key indicator of usage levels within the ecosystem.

Price: $0.7324

Support: $0.70

Resistance: $0.757

TVL: $430 million

Open Interest: Dropped from $700 million to $600 million
The rise in user activity indicates that the network continues to be utilized despite price pressure. The fact that TVL remains flat while active addresses increase suggests that users are maintaining their engagement with the ecosystem rather than withdrawing capital.

Key level remains unchanged despite decline in open interest

Data shows that open interest has dropped from approximately $700 million to $600 million. This decline indicates that investors are reducing their leveraged positions.

This cooling of speculative activity is considered one of the factors explaining why SUI has not yet managed to break through the $0.757 resistance level, despite the increase in on-chain activity. For now, SUI remains in a sideways consolidation pattern. A sustained move above $0.757 could strengthen bullish expectations, whereas a drop below $0.70 might trigger renewed selling pressure.
‍$SUI