$SUI

🚨 Sui token unlock could disrupt the rally 🚨

Sui, a top layer-1 network, was one of the top-performing coins in the crypto industry as it jumped to $3.8, its highest level since Feb. 1, and up by 110% from its lowest level this month.

It rallied as top meme coins in its ecosystem surged, resulting in a 60% increase in weekly DEX volume. Protocols in its platform handled over $3.43 billion in volume in the last 7 days, bringing the monthly transactions to over $11 billion.

Sui’s surge may be disrupted by a big token unlock scheduled for Thursday. The network will release tokens worth $120 million. Token unlocks lead to dilution, often affecting a coin’s performance.

The daily chart also shows that the SUI price has become overbought as the Relative Strength Index has moved to 77. Therefore, the coin is likely to retreat and retest the key support at $2.8150, the neckline of the double-bottom pattern at $2.

#SUI🔥 #BinanceAlphaAlert #Binance #Write2Earn #SaylorBTCPurchase