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High Market Interest Could See SUI Break Out Of Ascending Triangle Pattern

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SUI price is showing bullish signs as open interest reaches a five-month high, potentially leading to a breakout from an ascending triangle pattern. Increased trading volume and a cluster of buy orders at the breakout price suggest strong investor confidence.

High market interest could see SUI break out of an ascending triangle pattern as open interest reached a five-month high.The surge in SUI trading volumes came as the price touched the upper boundary of the ascending triangle pattern on the one-day chart.

The Relative Strength Index at 64 shows that despite the influx of buyers, SUI is not yet overbought, and there is room for further growth. Separately, $1.17 was also a strong barrier as data from Hyblock Capital shows that there is an influx of liquidation orders at this price. If SUI approaches this level, the uptrend could weaken unless the buying momentum remains strong.revealed that open interest rose by more than 30% within 24 hours from $217 million to $270 million at press time.

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