SUI Stuck in No Man's Land as Bitcoin Dominance Rises

The cryptocurrency market has been seeing a shift in momentum recently, and altcoins like SUI are feeling the heat.

The cryptocurrency market has been seeing a shift in momentum recently, and altcoins like SUI are feeling the heat. Once hailed as a rising competitor to Solana, SUI has struggled to regain upward momentum in recent weeks. As of mid-April 2025, the SUI token continues to hover between $2 and $3, and a strong breakout appears unlikely—at least for now.

Despite defending the critical $2 support zone multiple times since March, SUI hasn’t seen a surge in buying activity. With overall demand soft and Bitcoin's market dominance rising, the odds of a rapid rally for SUI are getting slimmer.

Strong Support, But No Lift-Off Yet

On a broader timeframe, SUI has consistently held above the $2 mark, which previously acted as a major resistance level back in March 2024. That level also triggered a significant rally in November, so it’s considered a key technical support area. Traders are watching this zone closely, expecting it to act as a springboard again—but the market just isn’t responding the same way this time.

Technically speaking, $2 now serves as a bullish "order block" on the weekly chart. This means large buyers previously entered the market here, which could happen again. But so far, the Relative Strength Index (RSI), which measures market momentum, shows no real strength. The RSI recently dipped below 50, signaling neutral to slightly bearish sentiment. If the RSI doesn’t rise above that mark soon, a stronger recovery remains uncertain.

Market Activity Hints at Sideways Action

Market data from Coinalyze supports the idea that SUI is currently stuck in a sideways trend. Spot market interest has been flat throughout April, as shown by the Cumulative Volume Delta (CVD), which measures the flow of buy and sell orders. There’s simply not enough fresh buying interest to push SUI higher.

On the derivatives side, Open Interest (OI)—which reflects how much money is locked into futures contracts—has stayed within a narrow range between $300 million and $340 million. This suggests traders are hesitant to bet big on any major moves in the near term.

In addition, Bitcoin's market dominance has surged to around 64%. Historically, when Bitcoin takes the spotlight, altcoins like SUI often lag behind. This trend could limit SUI's upside until Bitcoin cools off or investors begin rotating funds back into smaller cryptocurrencies.

Signs of Hope Amid the Stalemate

While most indicators point to a sluggish phase, there may be a glimmer of hope. The Accumulation/Distribution (A/D) indicator—a technical tool used to visualize the inflow and outflow of capital—recently showed a slight reversal. This could signal that long-term buyers are slowly stepping back in, even if the volume isn't strong yet.

If the RSI starts to climb and crosses back above 50, and if accumulation continues, SUI may be able to challenge its upper resistance near $2.80. For now, however, the 50-day Exponential Moving Average (EMA), which has acted as a ceiling since February, continues to block further gains.

What's Next for SUI?

Unless there’s a sudden surge in demand or a broader market shift, SUI is likely to continue trading in a limited range of $2 to $3. Investors should keep an eye on any signs of increased volume, a shift in Bitcoin's dominance, or the RSI breaking out of its recent lows and moving above the 50 mark. These factors could provide better signals for a potential breakout.

In conclusion, while SUI has strong technical support at $2 and appears to be holding up despite market pressure, there’s little to suggest a breakout is coming in the immediate future. Patience may be required for those waiting for a bullish reversal, as market conditions and investor interest continue to dictate the token's fate.