Crypto
SUI Price Hinges on October 3 Unlock Event
SUI, a token with a market capitalization of roughly $4.81 billion, is currently trading at around $1.17 per unit after an upcoming token unlock on October 3.
The event is expected to release approximately 23.38 million SUI tokens, which represents about 0.2% of the total supply and 0.6% of the market capitalization.
According to technical analysis, the current price is near immediate support at $1.1717 and a dense resistance range between $1.1858 and $1.21.
The 14-day RSI (Relative Strength Index) is at 67.3, which is considered bullish but nearing overbought territory, indicating that the price may be due for a pullback if buyers fail to force a breakout.