SUI Price Don Up 7% Before $173M Unlock, $3.75 Na Important Support
SUI price don climb 7% reach $3.94 as traders dey ready for $173M SUI token unlock wey go happen on August 1. Them go release 44 million SUI tokens wey be about 1.27% of the circulating supply, and e don make people fear say e fit cause short-term sell pressure around the unlock. The support wey dey for $3.75 na important one; if e hold there steady, e fit make price reach $4.35 and $5.
On the other hand, the blockchain fundamentals still solid. For July, Sui total value locked (TVL) jump from $1.7B go reach record $2.2B, and also decentralized exchange (DEX) volume rise from $8.1B to $14.3B. Stablecoin market cap for Sui don cross $1B too.
Technically, the signs dey mixed. 3-hour MACD show bullish crossover, and RSI stand at neutral 52, meaning price fit go up. But the price dey trade just below the 10-day EMA ($3.88) and 20-day SMA ($3.87), plus bearish MACD on longer time frames dey warn that gain fit limited. Recent fall for trading volume and open interest dey show say people dey cautious.
Traders suppose dey watch the trading volume plus on-chain metrics well to know if demand go fit absorb the new supply. How SUI price move go show if the network fit handle the extra tokens. Price go get short-term wahala, but strong TVL and DEX numbers dey support long-term confidence for the Sui network.
Neutral
Di upkamins SUI token unlock fit bring short-term sell pressure, but strong on-chain metrics—record TVL plus dey increase DEX volume—dem de give strong foundation support. Mixed technical signals, like bullish 3-hour MACD crossover against bearish longer-term MACD and key resistance just above current levels, mean say SUI price fit get plenty volatility but no clear direction break. Traders likely go stay cautious, dey watch if demand fit absorb new supply, result na neutral short-term outlook but dem still get long-term confidence.