1. Current price status
Latest price: As of 2026-01-28 14:10, the SUI price is 1.44 USDT.
Intraday performance: The price fluctuates within a very narrow range. The lowest price of the day is 1.42 USDT, and the highest price is 1.44 USDT (current price has reached the intraday high), with an amplitude of only about 1.4%. The market shows obvious signs of horizontal consolidation.
Price position: The current price (1.44) is exactly at the position of the previous day's VWAP (Volume Weighted Average Price) of 1.44, and is also near a resistance level about 1.4% below the previous day's highest price of 1.46.
Volume: The latest 5-minute K-line (14:10) shows a trading volume of 45,181.8, which has shrunk compared to the previous few K-lines (for example, 14:00's 270,287.2), indicating a brief hesitation in buying power when the price is hitting high levels.
2. Short-term Trend Analysis
Trend Judgment: Oscillation/Sideways. Although the 5-minute level shows a slight upward inclination in the price between 1.42-1.44, the K-line entity at the 15-minute level is very small, mostly doji or small entity lines, indicating that both bulls and bears are in a state of equilibrium, lacking a clear directional driving force.
Moving Average (EMA):
In the 5-minute chart, both EMA20 and EMA50 are at 1.43, and the price (1.44) slightly stands above the moving averages, with short-term moving averages flattening, lacking divergence.
In the 15-minute chart, EMA20 (1.43) is highly correlated with EMA50 (1.43), further confirming the current non-trending state.
Key Support and Resistance:
Resistance Level: The first resistance level is 1.44 (daily high, upper Bollinger Band, previous day's VWAP); strong resistance is at 1.46 (previous day's highest price).
Support Level: The first support level is 1.43 (middle Bollinger Band, EMA moving average dense area); strong support is at 1.42 (daily low, previous day's low, lower Bollinger Band).
3. Technical Indicator Analysis
RSI (Relative Strength Index):
5-Minute RSI (14): The latest value is 66.1. This value has entered the strong zone, approaching the overbought threshold of 70, indicating strong buying power in the short term, but also suggests that upward space may be limited, posing a risk of a pullback.
15-Minute RSI (14): The latest value is 56.78. It is in a neutral to strong zone, not entering the overbought or oversold area, which aligns with the sideways trend of the larger cycle.
Bollinger Bands:
The Bollinger Bands are extremely narrowed. The upper band is 1.44, and the lower band is 1.42, with a very narrow bandwidth.
The price is running close to the upper band of the Bollinger Bands, which is usually a precursor to a trend change (the Bollinger Bands often choose a direction after narrowing). If the price can effectively stabilize above 1.44, the Bollinger Bands will open upward, initiating an upward trend; if it falls back, it will continue to oscillate within the range.
ADX (Average Directional Index):
The 15-minute ADX is 10.98, and the 5-minute ADX is 17.03. Both are below the critical value of 20, objectively quantifying that the current market has no trend and is in a typical oscillating market, unsuitable for trend-following trades.
MACD:
The MACD Histogram for both 5 minutes and 15 minutes shows -0.0 or close to 0, with momentum indicators in a neutral balance state, showing no significant bullish or bearish momentum release.
4. Funding Rate and Open Interest Analysis
Funding Rate:
The latest funding rate is 9.2e-05 (0.0092%).
The rate is positive, indicating that bullish sentiment slightly dominates, and bulls need to pay funding fees to bears. Although the value is positive, the absolute value is relatively low (usually 0.01%-0.05% is the normal mild range), with no extreme overheating or cooling signals.
Open Interest:
The latest open interest (OI) is 120,158,589.68.
Trend Analysis: Compared with historical data, OI shows a clear upward trend. For example, it increased from approximately 108M at 15:00 on January 26 to the current 120M.
In-depth Interpretation: During the price consolidation (1.42-1.44), the open interest continues to increase, which is a very critical signal. This usually means that new funds are entering the game, and both bulls and bears are continuously increasing their positions. Considering the positive funding rate, the enthusiasm for bull positions is slightly higher, and the market is in a 'tense' state, accumulating significant volatility potential.
5. Comprehensive Forecast and Suggestions
Comprehensive Forecast:
SUI/USDT is currently at the balance point of both bullish and bearish forces. The price is running in a narrow range of 1.42-1.44, with the Bollinger Bands extremely narrowed and accompanied by a continuous increase in open interest. This suggests that the market is about to make a directional choice. Given that the open interest is increasing with a positive funding rate, and the price is supported at 1.42 (the previous day's low), the probability of an upward breakout is slightly higher, but one must wait for the price to confirm a breakout above 1.44 before following up.
Trading Suggestions:
Aggressive Strategy (Breakout Trade):
Long Entry: If the price strongly breaks through and stabilizes above 1.445, one can attempt to go long.
Stop Loss: Set below 1.435.
Target: First target 1.46 (previous day's high), second target 1.48.
Conservative Strategy (Range Trading):
Buy: Enter when the price falls back to around 1.425 - 1.430 and finds support.
Sell: Take profit when the price rises to around 1.440 - 1.443 and meets resistance.
Stop Loss: Exit decisively if it falls below 1.418.
Current Status: Waiting. Given that the 5-minute RSI (66.1) is already high and the price has reached the intraday resistance level of 1.44, chasing the high directly poses a poor risk-reward ratio. It is recommended to wait for the price to pull back and stabilize around 1.43 or to act after breaking out with volume above 1.445.
Risk Warning:
False Breakout Risk: Due to the market being in an oscillation period and high open interest, the price may experience a momentary spike above 1.44 before quickly falling back, creating a 'false breakout.'
Trend Change Risk: The trend change after the Bollinger Bands are extremely narrowed often comes with intense fluctuations. If it breaks down below 1.42 strong support, it may trigger bear stop-losses, leading to a rapid drop below 1.40. Please be sure to set stop losses strictly.
SUIUSDTPerp1.2656-1.71%