Sui (SUI) Market Update โ May 2, 2025 ๐๐
On May 1st, Sui unlocked 88.34 million tokens ๐, worth approximately $296 million ๐ฐโabout 2.28% of its circulating supply. Historically, such large unlocks have triggered volatility in SUI's price. โ ๏ธ
As of today, SUI is trading around $3.45 ๐, down slightly by 0.06% since the previous day. The intraday range is $3.43 - $3.69 ๐๐.
Previous unlocks in January and February also caused notable dips ๐จ, each involving more than $300 million in tokens.
However, not all signals are bearish ๐:
Sui's TVL rose 40% in April, reaching $1.75 billion ๐๐
RSI indicates overbought levels ๐
MACD remains bullish ๐ข
Key Support Levels to watch: $3.30 and $3.00 ๐
If demand absorbs the new supply well, SUI may consolidate between $3.30 and $3.60 ๐. But if sellers dominate, expect more downward pressure. ๐
Summary: Despite the token unlock adding short-term pressure โ ๏ธ, strong fundamentals and a growing ecosystem ๐ could support Sui's long-term value. ๐ช
