SUI Faces Critical Test: $82M Token Unlock Meets Weak Market Sentiment
SUI is under renewed downward pressure as $82.81 million worth of tokens unlock and enter circulation today, testing buyer resolve amid tepid market demand. The digital asset is currently trading NEAR $1.50—a critical juncture where bulls are defending the $1.48 support level while struggling to overcome the $1.58-$1.60 resistance zone.
Market observers note that while the unlock represents modest supply inflation, its timing is inopportune. Technical charts show sui trapped in a descending channel, with $1.30 emerging as a make-or-break support level. Analysts caution that long liquidations could accelerate if the price breaches $1.40.
Potential seasonal tailwinds offer a glimmer of hope. December has historically favored crypto rallies, with Bitcoin frequently gaining momentum post-Thanksgiving. Such a broader market move could propel SUI upward, though the token remains 72% below its 2024 all-time high (ATH) of $5.35.
