🚀 SUI Surges 6% Ahead of $119M Token Unlock — Is a Volatility Spike Brewing?
SUI, the native token of the Layer-1 Sui blockchain, rallied 6% on Friday, just days ahead of a $119 million token unlock scheduled for next week — a move that could inject fresh volatility into the altcoin market.
📅 Next Week’s Unlocks: Over $212M in Tokens Hitting the Market
According to TokenUnlocks data, next week will see a wave of cliff unlocks across several major crypto projects. Among them:
SUI: $119 million
Optimism (OP): $16 million
Kamino Finance (KMNO): $12 million
Artificial Superintelligence (FET): $2 million
Others include Ethena (ENA), Zetachain (ZETA), DYDX, and SingularityNET (AGIX)
SUI alone accounts for 56% of the total tokens being unlocked, representing about 1.16% of its current circulating supply.
📉 Will the Unlock Trigger a Price Drop?
Historically, token unlocks increase circulating supply and can exert downward pressure on prices — especially during cliff events. However, SUI’s recent price behavior has defied that trend, rising over 4% in the past 24 hours, even amid broader market weakness.
Currently, SUI is facing a technical ceiling at the $2.88 level, aligned with its 100-day Simple Moving Average (SMA). A decisive close above this zone and the upper boundary of its descending channel could open the door to a bullish breakout toward $3.55.
📉 On the downside:
If SUI fails to maintain momentum, a correction toward the $2.29 support could be on the table.
📊 Momentum Indicators Flash Caution
RSI and Stochastic Oscillator remain below neutral territory but are tilting upward, suggesting that bearish momentum may be weakening — but not yet reversed.
Volatility could surge post-unlock as markets digest the added supply and traders reposition.
🔍 Key Takeaways
SUI leads the week in token unlocks, followed by OP, KMNO, and others.
Despite bearish unlock pressure, SUI is showing resilience.
Traders should watch the $2.88 resistance and $2.29 support for potential breakouts or breakdowns.