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Sui Network's Big Move! 64 Million SUI Tokens Unlocked, Can It Achieve Great Results Again?
The cryptocurrency market feels like a rollercoaster ride, first experiencing a surge and now a pullback. However, the Sui Network (SUI) blockchain token is not to be underestimated; in the past month, it has risen by 26, with a trading price of $4.25, remaining quite stable.
The Sui Network plans to release 64.19 million SUI tokens on January 1st, which are worth a total of $270 million!
Technical Analysis: The Trend of $SUI is Quite Interesting
In SUI's 4-hour chart, an interesting symmetrical triangle pattern has been identified. This seems to suggest that the upcoming trend of SUI may continue its previous pattern. Currently, the price of $SUI is at $4.25, with a key support area below it. Looking at the technical indicators, the MACD seems a bit 'exhausted,' and the bearish momentum is not as strong; as for the RSI, it's nearing the oversold area but hasn't reached an 'extreme' level yet.
The unlocking of the Sui Network's tokens appears to be a well-planned move, although so far, it hasn't had a significant impact on the price. However, we all know that the market can change quickly. On January 1st, everyone will surely be paying attention to the technical indicators to see how $SUI will move next.
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