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Key Takeaways:
- SUI is facing strong resistance at the top of a descending channel amid a $164M token unlock.
- Bearish technical signals and declining volume suggest a potential short-term drop to $2.40.
- Despite the negative sentiment, $16.4M in exchange outflows may indicate quiet accumulation by long-term holders.
The Sui [SUI] token, currently moving within a descending channel pattern, has shown strong volatility in recent days. After rallying over 20%, SUI is now approaching key resistance levels, just as the market braces for the impact of a massive token unlock worth $164.44 million.
$164 Million Token Unlock Raises Red Flags
According to data from CryptoRank, the Sui Network unlocked 58.35 million SUI tokens on July 1, representing approximately 1.72% of its total market capitalization. Historically, such large-scale token unlocks are perceived as bearish signals due to the sudden increase in supply, often leading to short-term price dips as selling pressure mounts.
🔓 Top 7 Token Unlocks of the Upcoming Week
— CryptoRank.io (@CryptoRank_io) June 30, 2025
The following tokens with the largest unlock amount will be unlocked next week:
$SUI – $164.44M$ENA – $25.20M$OP – $18.04M$KMNO – $13.22M$GRASS – $4.35M$UDS – $3.71M$PRIME – $2.82M pic.twitter.com/fYQXeA9TFx
The timing of this unlock coincides with SUI facing strong resistance at the upper boundary of its descending channel—making it a crucial juncture for the token’s next move.
SUI Price Slips Amid Declining Market Participation
At the time of writing, SUI was trading near $2.72, down 1.75% over the last 24 hours. CoinMarketCap data indicates a 10% decline in trading volume, suggesting waning investor interest and reduced confidence in the token’s short-term performance.
Technical indicators reinforce this cautious outlook. SUI has broken below a key ascending trendline and remains under the 50-day Exponential Moving Average (EMA)—a bearish signal indicating further downside unless a reversal occurs. Analysts project a potential decline of 10–12% if the price closes a four-hour candle below current support, which could bring SUI down to the $2.40 mark.
Also Read: Ripple vs SEC Lawsuit: Appeal Dismissal Could Take Weeks, Says Former SEC Lawyer
Overleveraged Traders and Resistance at $2.848
According to CoinGlass data, traders remain heavily positioned around key levels. At $2.67, over $12.45 million worth of long positions are at risk, while the $2.848 resistance level sees $16.66 million in short positions. This imbalance suggests traders expect SUI to remain rangebound or fall further, reinforcing the current bearish sentiment.
Interestingly, some long-term investors appear to be taking advantage of the dip. On-chain data reveals a $16.40 million outflow of SUI tokens from exchanges, indicating potential accumulation. This could hint at underlying confidence in the asset’s long-term prospects—even amid short-term bearish pressure.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
