After a significant increase in the price, an unlocking of Token Sui of $ 265 million is being scheduled this week, which could lead to the sale pressure.
On May 1, approximately 74 million tokens sui (SUI), or 2.28% of the circulating supply, will be unlocked, according to Tokenomist data. The pending launch adds fresh sale pressure at a time when the demand has heated. Until now, only 33% Sui’s total supply is unlocked.
Meanwhile, SUI chain foundations have been strengthened. The total value blocked in SUI -based protocols rose 40% since the beginning of April, now at $ 1.73 billion, according to defriting data.
Stablecoin market capitalization also increased from $ 630 million to $ 880 million during the same period, while the daily decentralized exchange volume has been around $ 500 million.
The network has managed more than $ 3.6 billion in operations in the last seven days, raising its monthly volume of more than $ 11 billion. With a new offer about to reach the market, some merchants can obtain profits after the profits last week. However, others see Defi’s growing metric as signs that Sui can absorb new tokens without a recession.
SUI is quoted around $ 3.62 after a strong rupture above the resistance zone of $ 3.30. The bullish signals in the key indicators have supported the rally. With a relative resistance index of 78, the asset seems to be overloaded, which indicates the potential exhaustion in the short term. Impulse indicators are still in favor of buyers, and the convergence/divergence of the mobile average is still in positive territory.
In addition, all estimated mobile averages indicate a purchase. If the purchase pressure is maintained and Sui remains above $ 3.60, it could try a movement towards $ 4.00, a psychological level that can attract more impulse merchants.
On the negative side, SUI could test the $ 3.30 support if the sale pressure of May 1 unlocks begins to be built. A deeper setback could find a higher support around the $ 3.00 area, near the 10 -day EMA. If the market gently absorb unlock, SUI can solve between $ 3.30 and $ 3.60 before establishing a new trend.
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