In the cryptocurrency market, one of the data points that investors closely follow is token unlock events. According to the token unlock data analysis platform Token Unlocks, tokens worth 44.74 million dollars will be unlocked in the next seven days. Tomorrow, the token unlock event for the Layer-1 project SUI, which has recently attracted attention for both its ecosystem and token price performance, is an event that should be closely monitored.
SUI Token Unlock Event
According to data provided by Token Unlocks, which shares token unlock events with its followers, there will be a token unlock worth 44.74 million dollars next week, marking one of the largest token unlock events of recent times. The largest unlock among these will be the token unlock event for the Layer-1 network SUI.
The event, which will take place tomorrow (January 3rd) at 03:00, involves a token amount equivalent to 3.14% of the total supply of SUI tokens and has a market value of 30.84 million dollars. With just hours left for the event, investors are eagerly following the process, and at the time of writing, the SUI token was trading at 0.891 dollars. The SUI token unlock event is one of the most notable upcoming token unlock events in the coming days.
SUI Chart Analysis
The first notable formation structure in the four-hour SUI chart is the ascending channel formation. According to this formation, there was a structure that trapped investors in a bear trap in the second week of December. Especially when the price dropped below the EMA 200 (red line) level, it caused fear and concern among investors, but after this structure, the SUI price managed to reach its all-time high.
The most important support levels to watch for SUI are; 0.8790 / 0.8418 and 0.7646 dollars, respectively. Particularly, a four-hour bar close below the 0.8790 dollar level in the last bar formation could lead to selling pressure on the SUI price.
The most important resistance levels to watch for SUI are; 0.9208 and 0.9662 dollars, respectively. Especially, a four-hour bar close above the 0.9662 dollar level will help refresh the SUI price record and gain momentum.
