Possible fall of SUI persisting in the near future days.
The SUI token, a flagship project of the Sui blockchain, is currently struggling to break above the $3 barrier, following a descent in a trading channel that has persisted for several weeks. The token's price has also fallen below its 50-day moving average, reflecting a bearish trend in the short term.
The current factors affecting the price and future prospects of the SUI token are a complex interplay of technical, fundamental, and market dynamics.
One significant factor is the recent unlocking of approximately $120 million worth of SUI tokens by the Sui Foundation and Mysten Labs, which has raised concerns about potential downward pressure on the price. However, the total value locked (TVL) remains stable at near $2 billion, indicating institutional confidence.
Network activity and Layer-1 competition are also playing a crucial role. SUI has seen increased activity following high-profile launches such as Qubetics, which experienced an explosive market debut. This surge has drawn attention to SUI and similar tokens, creating potential upside momentum. Technical analysis points to a symmetrical triangle formation, which often precedes a strong breakout. If SUI breaks above the key $3.40 resistance with solid volume, it may rally to $5–$6.
Tokenomics and supply factors are another influencing element. As the circulating supply of SUI increases with more tokens unlocked from the maximum supply of 10 billion, there is intermittent downward pressure on the price unless demand grows proportionally.
Strategic partnerships and ecosystem growth are expected to boost the token's utility and adoption, supporting bullish price projections of up to $11.50 in 2025 by some analysts. The Sui network supports 86 projects spanning DeFi, gaming, infrastructure, and more, which sustains demand for SUI tokens.
Broader market conditions such as interest rates and regulatory clarity also play significant roles in shaping investor sentiment and price action. Despite a 10% increase in the last 24 hours, the SUI token has fallen by 15.5% over the past 30 days, reflecting the broader crypto market downturn affected by recent geopolitical tensions.
Analysts remain moderately optimistic about SUI's prospects, balancing caution due to market volatility with bullish technical patterns and growing ecosystem activity. However, they expect the SUI token to struggle to regain the strength it showed at the end of last year.
Investors are advised to closely monitor the evolution of SUI in the coming weeks for signs of a trend reversal. The CMF for the SUI token is still negative, indicating caution is needed in the short term. The current bearish pressures on SUI do not appear to be easing, but the RSI indicates a return of buyers for the SUI token.
If SUI can break above the trendline at $3.09, it would confirm a new bullish trend for the token. In case of a bearish reversal, the key support for SUI is at $2.30. SUI has rebounded from its daily Point of Control at $2.3 and is up 27% since.
Despite these challenges, the weakness of SUI is not isolated. Many cryptocurrencies are experiencing similar struggles in the current market conditions. As always, caution is recommended in the volatile crypto market.
The SUI token's academic journey at the Crypto Academy is heavily influenced by technology, with factors like network activity, Layer-1 competition, and technical analysis significantly impacting its price movements. The recent symmetrical triangle formation and the potential breakout above the key $3.40 resistance are technical factors that suggest a bullish outlook, but the crypto academy must navigate complex dynamics, such as the potential downward pressure from the recently unlocked SUI tokens and the ongoing bearish trend in the short term.
