SUI Price Rises 8% to $1.14 as Bullish Momentum Targets $1.18

SUI price is climbing steadily with positive momentum and has been capturing the focus of investors. The near-term setup of the SUI price is still bullish, with crucial levels acting as hurdles for its rise. While there is increased open interest in the derivatives market, funding rates show signs of caution.

At the time of writing, the token is trading at $1.13, showing an 8.01% increase over the last 24 hours. The token continues to draw attention in the market, supported by strong trading volume of $1.05 billion and a total market value of $4.56 billion. This steady upward move reflects ongoing interest as the SUI price builds within a short-term rising structure.

Source: CoinMarketCap

Also Read | Bitcoin Reserve Proposal in Switzerland Fails to Gain Enough Support for National Vote

SUI Price Bullish Wave Continues

A crypto analyst, More Crypto Online, mentioned on May 10, 2026, that the SUI is developing as expected according to the previous bullish pattern formation. According to More Crypto Online’s analysis, wave (3) might move up towards the price level of $1.18.

Source: More Crypto Online’s X Post

This projection emphasizes the possibility that there is still upside for the SUI price if it remains above crucial technical support points. Support stands at $1.04, which can be considered a crucial area for sustaining an uptrend in the SUI price.

SUI Derivatives Show Rising Pressure

The derivative market data also highlights a change in the positioning of the SUI price trend participants. Open interest is up by 12.36% to stand at $683.19 million, suggesting that more capital has been flowing into the SUI price positions.

Source: Coinglass

Nevertheless, the trading volume has decreased by 11.58% to $1.16 billion, indicating lower participation in the short term despite the increasing exposure. This usually indicates that the price of SUI is likely to make a big move soon.

However, the open interest weighted funding rate is currently -0.0022%, which implies a slight bearish sentiment surrounding the SUI price. This suggests that short positions are marginally more preferred than long positions despite the fact that the SUI price trend remains bullish on a short-term basis.

Source: Coinglass

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | Solana Price Gains Strength After Breakout, $100 Target Back in Focus