SUI's open interest (OI) drops $250 million after price plummets 13%
The open interest (OI) of SUI has decreased by $248 million, from $923 million to $675 million, reflecting that many investors are withdrawing capital and indicating an increase in uncertainty that could threaten SUI's price trend. Although SUI's price recently fell 13% after an unsuccessful attempt to reach a new all-time high (ATH), some indicators suggest that SUI's upward momentum has not completely vanished, such as the relative strength index (RSI) remaining above the neutral line. However, the lackluster market sentiment is hindering a decisive price direction. Currently, SUI is trading at $3.74, just 16% below the ATH of $4.47, and is in a consolidation phase above the key support level of $3.2.
