- The SUI price gave a decisive breakout from the traditional reversal pattern called double-bottom setup.
- SUI supply crunch deepens after treasury wallet transfers 2.7% of total supply to Staking
- High-networth investors accelerates on SUI buying while retail traders continue avoiding the rally.
SUI, the native cryptocurrency of the SUI blockchain is down 2.18% on Monday to currently trade at $1.3. The intraday pullback aligns with broader market pullback amid escalating geopolitical tension in the middle east. However, the SUI price shows strong resilience above $1.25 floor with long-tail rejection candle as multiple factors are bolstering the asset for higher recovery.
SUI Price Surge Driven by Institutional Supply Lockup
The SUI price surged by 50% in just 36 hours around May 10, rising from around $0.92 to a peak of $1.39, before ending around $1.26. This move stood out for its unusual characteristics: trading volume jumped dramatically from $213 million to $2.5 billion, yet Read Entire Article
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