news 
**Sui (SUI) Price Braces for Volatility as Massive Unlock Hits Market**
In the latest market update, Sui’s token has seen a moderate 0.58% daily gain, trading at $2.81 as the massive unlock event unfolds. The recent increase in volume is striking, with a whopping 49.17% surge to $906.11 million over 24 hours.
**Unlock Event Creates Uncertainty**
Sui Network recently unlocked 44 million coins worth approximately $77.35 million on July 1st, leading to concerns regarding the impact of this supply addition on the market. Notably, CEO Evan Cheng has not issued any warnings related to the unlock’s potential effect on the token’s value.
**Technical Analysis Suggests Breakout Potential**
From a technical perspective, analysts are monitoring a critical resistance level at $2.90. A daily close above this price could trigger a bullish breakout scenario, with targets potentially reaching $3.40 and even $4.20 if sustained support holds.
**Open Interest in Futures Drops**
Futures market indicators show a decline in trader interest, as Open Interest dropped from its peak of $2.05 billion in May to $1.19 billion currently. This reduction typically signals bearish sentiment when not accompanied by positive catalysts.
**Price Predictions Show Wide Variation**
2025 price forecasts for Sui (SUI) exhibit significant disparities between platforms. DigitalCoinPrice anticipates the token reaching $5.35 to $6.18 by December, while Changelly takes a more conservative stance with yearly high predictions of $2.42.
**Ecosystem Resilience in Light of Token Unlock**
While uncertainty surrounds the impact of the recent unlock, it’s essential to acknowledge the Sui ecosystem’s remarkable resilience, as evidenced by its Total Value Locked (TVL) near $2 billion, providing potential resistance against price shocks.
The article concludes that Sui (SUI) is poised for significant market movements as a massive token unlock event unfolds.
Source: coincentral.com
