SUI has dropped 13% in seven days—now it’s hovering around the 0.7347 support level, just one step away from the seven-day low at 0.7241. Yet spot has net inflows of 44.65 million in the past three hours; none of the 12 fifteen-minute capital flow lines turned red—price is falling, but money is surging in. I’ll note this contradiction first.
The main evidence is just one point: around 0.73, spot has a 2.31x ratio of active buy/sell; among every 100 trades, 66% are real, straightforward buy orders. When it drops to the point where nobody wants to hold it up, someone is still stepping in and catching it with real cash.
Futures OI shrank by 5.59% in a day; leverage above 0.74 has been flushed out significantly. The funding rate has effectively dropped to zero at 0.0036%. There’s no crowded long positioning, and nobody is paying a premium to hold long positions. On-chain, borrowings are up +122% over 12 hours—people are borrowing and entering at this level. Whale accounts are still 74% long; they only cut slightly by 2%.
The downtrend is still pressing short, and I won’t deny that. But this feels more like a wash-and-accumulate than a continuation of the sell-off. As long as 0.7241 holds, I’ll go long; for the rebound I’m looking at 0.755 first, then 0.77. The day volume comes in and smashes through 0.7241, or if spot’s net inflow over three hours flips negative, longs will withdraw immediately—no hesitation. #sui $SUI
The main evidence is just one point: around 0.73, spot has a 2.31x ratio of active buy/sell; among every 100 trades, 66% are real, straightforward buy orders. When it drops to the point where nobody wants to hold it up, someone is still stepping in and catching it with real cash.
Futures OI shrank by 5.59% in a day; leverage above 0.74 has been flushed out significantly. The funding rate has effectively dropped to zero at 0.0036%. There’s no crowded long positioning, and nobody is paying a premium to hold long positions. On-chain, borrowings are up +122% over 12 hours—people are borrowing and entering at this level. Whale accounts are still 74% long; they only cut slightly by 2%.
The downtrend is still pressing short, and I won’t deny that. But this feels more like a wash-and-accumulate than a continuation of the sell-off. As long as 0.7241 holds, I’ll go long; for the rebound I’m looking at 0.755 first, then 0.77. The day volume comes in and smashes through 0.7241, or if spot’s net inflow over three hours flips negative, longs will withdraw immediately—no hesitation. #sui $SUI
