In August 2023, the SUI token showed minimal price fluctuations. After a rise in July, the token lost momentum and traded within a narrower range.
August Price Action
In late July, SUI reached a peak near $4.45, quickly falling to $3.26 in early August. Buyers managed to push the price up to $4.20, but sellers capped the rise. Since then, the price has been stuck between $3.25 support and $4.20 resistance. This indicates market indecision; each dip into the low $3.20s attracts buyers, while rallies near $4.20 face profit-taking.
Volume and Open Interest
Trading volume in August has remained steady at around 68-74 million tokens, enough to keep market activity but not enough to fuel significant breakouts. Open interest has also declined slightly from 84.5 million to 83.9 million, indicating that traders are pulling back on leverage while waiting for clearer signals.
SUI Price Prediction for September
The short-term outlook for SUI depends on which side breaks first. Holding above $3.25 keeps the range intact. If this level fails, SUI could drift toward $3.00. Conversely, pushing above $4.20 could pave the way for levels between $4.50 and $5.00. For now, the most realistic scenario appears to be continued sideways trading between support and resistance.
In conclusion, August was a relatively calm month for SUI, and without a notable change in volume or market sentiment, September may resemble the previous month.
