SUI has been at a high of $3.94, earning 7% in the past day. Unlocking the massive August 1st creates a potential fear of bear pressure. Holdings above $0.275 could support an imminent breakout.
Digital currencies earned mild profits on Friday as global crypto market capitalization rose 0.55% to $3.9 trillion over the past 24 hours.
Most ALTS signal recovery, but SUI led today’s winners by more than $3.94 with a surge of over 7%.
The uptrend is thrilling enthusiasts watching a new breakout.
Nevertheless, the $173 million SUI unlock on August 1st has thwarted investors’ trust due to potential sales pressure after the release of a massive token.
Can an altcoin survive a bear storm?
SUI unlocked on August 1st
Token unlocking is common in the cryptocurrency market, but it often causes anxiety as it can affect short-term price measures.
Future unlocking of SUI is no exception.
According to Tokenomist, SUI released 44 million tokens, worth around $173 million on August 1st at its current price.
This is a big number, especially considering the widespread market uncertainty in general and the dynamics of the SUI market.
Critical tokens can unlock market floods and possibly introduce significant sales pressure when recipients offload a portion of their balance.
For SUI, the $173 million unlock could test current momentum.
Altcoin trades for $3.95, with participants carefully watching the “reliable” support barrier for $3.75.
The scaffolding was previously held strong within the pullback.
If the SUI holds $3.75 through lock-driven volatility, that’s an optimistic signal.
Healthy performance after the release of tokens shows impressive demand despite the surge in supply.
This outlook places SUI as a mature blockchain that does not offset short-term events.
The Bulls were able to hold the line after a robust performance in July
The main question remains whether the buyer can maintain control amidst the supply shock.
The latest increase to $3.94 updated optimism about another breakout.
However, SUI will need to outweigh the support at $3.75 to absorb future token supply without panic sales.
Meanwhile, SUI heads to August after an impressive monthly performance.
The SUI total closed in July, closing its all-time high of over $2 billion after a steady uptrend since late June.
Surging TVL is extremely important as it confirms the overall financial health of the chain and highlights the rise in recruitment and growth.
This is an important liquidity indicator.
Increasing the locked total makes it easier for individuals to execute transactions without a significant price slip.
SUI’s Decentralized Exchange (DEX) volume also hit a record high of $14.3 billion in July.
SUI Current Price Outlook
Altcoin showed an impressive recovery after hitting its $3.69 low yesterday.
SUI shows a momentum shift towards rising momentum as trading volumes rose 15% at $3.94.
Short-term technical indicators suggest a buyer’s comeback.
MACD created a bullish crossover with signal lines over a three-hour time frame.
Additionally, the RSI of 52 suggests neutral sentiment as the Bulls appear to turn the script over.
Holding $3.75 amid the looming unlock will support an uptrend to Monday’s high of nearly $4.35, bringing the pass to $5.
