Sui’s price decreased by 4% in the last 24 hours following notable market fluctuations. It swung between $3.69 and $3.98, with robust selling pressure weighing down attempts to maintain high valuations.

Key Insights:

• Sui faced a 4% drop as it struggled below the $3.98 mark.
• Recent derivatives data indicated a withdrawal of long positions, leading to a 15% reduction in open interest amounting to $1.79 billion. This has also dampened funding rates significantly.
• Despite being up 9% over the last month, the recent performance may tempt investors to solidify gains, intensifying short-term selling pressure.

The trading session ended at $3.69, indicating continued bearish sentiments in the market amid efforts to hold support levels, as derived from institutional buying patterns. Recent institutional engagement has shown promising growth for SUI, prompting several investors to seize profit opportunities.