- A token unlock on July 1 releases 1.3% of supply, potentially causing near-term selling pressure before possible repositioning.
- ETHNews analysts see conflicting signals: some predict deeper pullback, others forecast potential 380% upside based on chart patterns and momentum.
SUI (Sui Network) is trading at $2.6896 USDT, showing a −3.14% intraday decline, extending a broader correction phase. Weekly performance stands at −4.82%, and monthly losses have widened to −17.07%.
Over the last six months, SUI has declined −37.18%, though it retains a +228.23% gain over the past year, reflecting its high-volatility profile and speculative nature.
Technically, SUI is trading near the bottom boundary of a falling channel on the 12H chart, with price support holding around $2.65–$2.68. Momentum indicators suggest a potential bounce if the structure remains intact.
A breakout above $2.90 could trigger bullish continuation toward $3.50, a level aligned with recent swing highs and Fibonacci resistance. However, a breakdown below $2.60 could open downside targets at $2.29–$2.35, in line with prior demand zones and trader short targets.
Fundamentals are shifting rapidly with growing developer traction and market attention:
- Multiple chart patterns (inverse head & shoulders, falling wedge) have emerged on SUI, with ETHNews analysts targeting a potential parabolic move to $5, contingent on confirmation of volume and breakout levels.
- A major unlock event is scheduled for July 1st, releasing 1.3% of the total SUI supply. This could introduce temporary sell pressure but also spark repositioning opportunities around ecosystem catalysts.
- ETHNews reports that SUI is being positioned as a high-throughput “Ethereum killer”, with potential to rival Layer-1 chains like Solana due to its Move-based smart contract framework and developer-friendly tooling.
- Technical sentiment is split, with some traders eyeing a deeper pullback while others highlight the setup for a golden cross and 380% upside potential based on past bullish momentum cycles.
- The platform’s DeFi ecosystem and GameFi partnerships are gradually expanding, but liquidity remains thinner compared to majors, which increases price volatility during directional moves.
SUI remains one of the most technically active altcoins with a high-risk, high-reward profile. Current price action is neutral-bearish short term but is structurally positioned for potential trend reversal if macro support holds through the token unlock.
