967 thousand Sui (SUI) has been unlocked in the past hours. How is this reflected in the price, what is the current situation in SUI?
SUI, which unlocked on September 3, released 967,400 tokens ($558 thousand). This value, which is not a very high amount, still caused a big change in the SUI price. The popular coin, which has been trading in a falling trend structure for days, started to rise with a sigh of relief after the unlocking. So how long can this rise continue? Where are the critical price zones in SUI?
Unlocking helped SUI
SUI, which has created a valid falling channel structure considering the 1-hour time frame, seems to have broken this structure for now. The pressure created by the unlocking on investors and the token lasted for about two weeks. Having successfully launched 967,400 tokens, SUI slowly gained upward momentum.
Finally, SUI, which pinned $0.4721, managed to break the falling channel structure by rising with the completion of the lock opening. Currently finding buyers at $0.487, SUI can target $0.51 – 0.53 – 0.551 and $0.575 respectively as long as it continues on the trend. BTC’s downside move or a FUD event in the SUI ecosystem will pull the price back to $0.482 and $0.472.
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