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SUI Breaks $4.27 Resistance: Can it Sustain DeFi Dominance?

Sui (SUI) has broken above the $4.27 resistance level, signaling bullish momentum. Here's what you need to know:

Key Statistics:

- SUI's price: $4.67, down 1.65%
- Total Value Locked (TVL): $1.87 billion, up from $1.51 billion since December 2
- Social dominance: Above 1%, indicating growing community engagement

Market Analysis:

SUI's price breakout is backed by strong technical indicators, including a Moving Average (MA) crossover. The Average Directional Index (ADX) suggests moderate trend strength, indicating potential for short-term consolidation.

Key Takeaways:

- SUI has broken above the critical resistance level at $4.27, signaling bullish momentum.
- Rising social dominance and positive funding rates reinforce optimism.
- The Long/Short Ratio indicates cautious optimism among traders.
- Sui's technical strength and community interest position it for sustained growth and DeFi dominance.