Sui's October Unlock: Bulls Must Defend Support

Sui (SUI) is facing a crucial test on October 3 when approximately 23.38 million tokens are scheduled to unlock, representing about 0.2% of its total supply and 0.6% of its market capitalization.

The token's price has been holding near the $1.18 level after gaining 1.44% over 24 hours, with a daily RSI (14) reading of 67.3 indicating bullish momentum.

However, the immediate challenge for SUI bulls is to defend its support at $1.1717 and reclaim the $1.1858 resistance level, which would open the path towards the $1.20-$1.21 area.