SUI Price Eyes $8 as Record TVL and Open Interest Fuel Bullish Momentum

Sui's Total Value Locked (TVL) hit an all-time high of $2.28 billion in late July 2025, while Open Interest (OI) surged to $2.66 billion. These milestones highlight strong investor confidence and thriving DeFi activity on the network. Despite a minor 1% pullback, SUI holds firm above the key $4.00 support level, trading NEAR six-month highs.

Technical indicators present a mixed outlook. The RSI at 65 shows slight bearish divergence, but the MACD's bullish crossover and expanding green histogram bars point to potential upward momentum. A clear breakout above the $4.58 Fibonacci level could pave the way to $5, with some analysts forecasting a rally to $8 if current demand continues.

The rebound follows May's Cetus hack, showcasing the network's resilience. Rising trading volume and accumulation patterns suggest renewed institutional interest, positioning sui for its next major price discovery phase.