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SUI Defies Token Unlock Pressure: Technical Analysis Signals Potential $7 Breakout
SUI Defies Token Unlock Pressure: Technical Analysis Signals Potential $7 Breakout
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[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN]
SUI News -
SUI has surged 3.65% to $3.46, overcoming bearish pressure from a recent 44 million token unlock worth $128 million. Market analysts identify a symmetrical triangle pattern, suggesting a potential 100% rally to $7 if resistance levels are breached.
The August 1st unlock initially caused volatility, but bullish momentum has absorbed selling pressure with notable resilience. This price action unfolds amid evolving SEC standards for crypto products, though regulatory developments remain neutral for SUI specifically.
Traders appear to be overlooking short-term supply concerns in favor of technical upside potential. The chart formation, if validated, could propel sui into uncharted price territory not seen since its 2023 debut.
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