SUI traded near $0.69 on 3 August after finding support around the $0.65 level, according to reports from AMBCrypto. The cryptocurrency has repeatedly defended this $0.65-$0.66 zone since June, making it the most important level within the current trading range. From a technical perspective, $0.74-$0.76 represents the strongest nearby resistance area, with $0.75 at the centre of the next major technical test.
The Sui Foundation's stablecoin-funded buyback programme has generated approximately $2.2 million in revenue so far this year, including estimated rewards for the current month, as reported by AMBCrypto. The programme uses yield from Sui's growing stablecoin ecosystem to purchase SUI on the open market, with stablecoin balances reaching approximately $443.1 million across 3.6 million holding addresses. Recent buybacks averaged around $6,000 per day, with the Foundation purchasing 8,800 SUI on 1 August and another 8,700 SUI on 2 August at an average price close to $0.69.
Despite the expanding buyback programme, its direct market impact remains relatively limited according to AMBCrypto analysis. The 317,500 SUI acquired so far represents only around 0.008% of the network's approximately 4.07 billion circulating supply. A typical $6,000 daily purchase remains small compared with SUI's roughly $100 million in daily trading volume, suggesting the programme currently serves more as a long-term capital allocation strategy than a short-term price support mechanism.
Market participation continues to favour sellers, with down-volume across the visible range totalling 21.26 million SUI compared with 19.32 million in up-volume, as reported by AMBCrypto. The Chaikin Money Flow [CMF] indicator remained slightly negative at -0.04, suggesting capital outflows continue to outweigh sustained accumulation. Holding $0.65 would preserve the current trading range, while a decisive move above $0.75 accompanied by stronger trading volume and a positive CMF reading would improve the short-term outlook.
