SUI’s daily chart shows a pending sell signal after an extended rally, a potential lower high and a shift in trend indicators. Exchange data shows Binance leading trading volume, while Kraken
SUI faces renewed selling pressure after a strong recovery, as weakening technical signals, elevated trading activity and mixed exchange flows shape market conditions.
SUI has retreated after climbing from its August lows toward the $1.30 region. Jesse Olson identified a pending daily sell signal following the rally. His analysis cites overbought candles, a reversal candle, a lower high and lost trend indicators.
Source: X
The daily chart shows a prolonged decline between May and August. Price eventually established a base around 0.60–0.70 before recovering. The advance accelerated during September, carrying the token above $1.00 toward higher resistance.
However, the latest candles show difficulty sustaining that upward momentum. The dotted trend indicator has also flipped indicating weakening conditions. All these signals are positive but not conclusive on their own for a sustained change.
The chart marks a green support zone around 1.10–1.15. Below it, an orange region around 0.88–0.98 identifies another historical price area. A sustained decline could bring that lower region into focus, but a revisit is not guaranteed.
The supplied market dashboard lists SUI at approximately $1.07, down 4.95% over 24 hours. Its intraday chart shows a steep decline from around $1.12 toward $1.00. Price subsequently recovered toward $1.07, but remained below its earlier levels.
Trading volume reached approximately $1.05 billion over 24 hours, increasing 50.12%. This rise indicates greater trading activity during the period of price weakness. Volume alone, however, cannot establish whether buyers or sellers will dominate subsequent sessions.
The dashboard reports market capitalization near $4.41 billion. Fully diluted valuation stands around $10.73 billion, with 4.11 billion tokens circulating. Total and maximum supply both stand at 10 billion SUI, leaving a substantial portion outside current circulation.
A separate exchange dashboard records futures volume of $1.48 billion and spot volume of $322.25 million. Open interest stands near $833.34 million, showing considerable activity in derivatives markets. These figures come from a separate snapshot and may use different reporting periods.
The one-hour volume heatmap places Binance first, at approximately $1.87 million. Kraken is second with $1.53 million, with OKX having approximately $699,120. Gate and Coinbase are approximately $652,890 and $442,450, respectively.
Source: Coinglass
Some of the other exchanges make lesser contributions to the shown trading volume. Upbit's records stand at around $411,950 and Bitget's are at $325,590. Bybit's volume in the top 10 is about $262,230, with several volumes being the largest ones.
The same markets are ranked differently in the net-flow heatmap. Kraken leads the pack with the largest positive net flow (+$633,130). Binance is second on the list with $271,800, and OKX comes in at approximately $178,690.
Positive net flows mean that there are more inflows than outflows in the time period. They aren't always indicators of value accumulation or future price trends. Transfers, liquidity management and preparations for trading can also influence exchange balances.
The two charts illustrate a slowing momentum and active trading, with mixed flows of exchange. The $1.00 low made during the day and the significant daily support zone offer strong technical context. The correction will either deepen or stabilize, depending on price action and market participation in the coming times.
