- Open Interest jumped 31.3% as funding flipped positive, showing strong long trader conviction.
- Short liquidations worth $1.64M reflected seller exhaustion near the $4.18 breakout zone.
- Sui [SUI] has achieved a significant on-chain milestone as its Total Value Locked (TVL) soared to a record $2.2 billion on the 22nd of May 2025.
This represents a 222% increase over the past year, underscoring a rapid expansion of DeFi activity on the network.
The surge highlights growing investor confidence and sustained demand for SUI-based protocols. At the time of writing, SUI traded at $4.08, up 6.20% in the last 24 hours.
SUI derivatives market activity shows aggressive positioning
SUI’s derivatives landscape reflects increasing trader interest, with Open Interest (OI) rising by 31.30% to $1.76 billion. This surge in open contracts signals a fresh wave of capital entering the market.
Furthermore, the Volume-Weighted Funding Rate flipped positive to 0.011%, confirming a shift in momentum as long traders gain dominance. This positive funding indicates that bulls are now willing to pay a premium to hold positions.
Therefore, the uptick in OI and funding implies a strong speculative appetite that could amplify volatility during the next major price move.
Price levels to watch: Can bulls confirm the cup-and-handle breakout?
At the time of writing, SUI was approaching a critical resistance near $4.18, aligning with the neckline of a developing cup-and-handle pattern.
The recent push toward this level suggests growing bullish intent, but confirmation requires a decisive breakout supported by volume. Failure to close above this mark may lead to short-term rejection, with the handle still in formation.
However, if bulls manage to flip this resistance into support, the structure could trigger a continuation rally.
Short liquidations spike as bears get squeezed
A wave of short liquidations has added fuel to SUI’s rally. In the last session alone, over $1.64 million in short positions were wiped out across major exchanges, with Bybit and Binance recording the largest losses.
This liquidation cascade suggests that bears misjudged the breakout momentum, leading to forced exits. Meanwhile, long liquidations remained minimal at $84.72K, indicating that the upside pressure remains intact.
Therefore, the imbalance between long and short liquidations reflects the market’s bullish tilt as sellers continue to exit underwater trades.
MACD and RSI confirm underlying strength
Momentum indicators further validate the bullish bias. At press time, the MACD was on the verge of a bullish crossover, suggesting a shift toward upward price momentum.
At the same time, the RSI read 67.42 — signaling strong buyer interest while still leaving room for further upside before entering overbought territory.
These technical signals, combined with the rising price and surging TVL, support a sustained bullish narrative.
Therefore, both momentum and trend indicators are aligning with price action to reinforce the strength of the current rally.
Can SUI sustain this momentum into price discovery?
With a record $2.2 billion in TVL, rising OI, and strong momentum indicators, SUI is well-positioned to break above the $4.18 resistance.
The developing cup-and-handle setup has attracted bullish activity, while short liquidations confirm fading bearish pressure. MACD and RSI support further upside.
Therefore, SUI is likely to flip $4.18 into support and extend its rally, initiating a potential price discovery phase.
