Sui releases another 13.72 million tokens worth $9.76 million on the 1st of August, following 22.6 million unlocked across four events in the past 30 days. SUI is consolidating near $0.7193 rather than selling off, leaving $0.70 as the level that decides whether its recovery structure survives.
Another 13.72 million Sui [SUI] worth $9.76 million will unlock on the 1st of August. That follows 22.6 million tokens released across four events during the past 30 days.
Early contributors receive 7.65 million SUI, while the community reserve and Mysten Labs treasury unlock 4 million and 2.07 million respectively. The project has completed 40.6% of its vesting schedule, leaving further releases ahead. These unlocks follow the vesting plan, but they can influence market sentiment when prices remain far below previous highs, because scheduled releases keep expanding the circulating supply.
$0.70 is the level SUI has to hold
Price action suggests investors have not reacted with broad panic. Instead, SUI continues consolidating after its recent recovery attempt, which indicates the market is waiting for fresh direction.
The token rebounded from the $0.70 support zone to a local high near $0.7875 by the 21st of July before retracing to $0.7183. It traded near $0.7193, posting a 1.7% daily gain at press time.
This decline developed gradually rather than through aggressive selling, suggesting buyers continue to defend key levels. RSI has cooled to 43.59 after approaching 60, reflecting fading momentum without signaling capitulation.
Momentum indicators tell a similar story. The MACD histogram has flattened, while the MACD and signal lines continue converging instead of producing a decisive bearish crossover. As a result, that leaves $0.70 as the critical support level: losing it could expose $0.6492, whereas reclaiming $0.7875 would confirm buyers are regaining control.
Spot volume falls to one of its lowest levels in a year
SUI's spot trading volume has fallen to 47.7 million, one of its lowest levels over the past year. However, that decline indicates selling pressure is easing despite additional supply entering circulation.
Exchange inflows and reserves have stayed relatively stable, which indicates most of the newly released tokens are currently being held off exchanges. Meanwhile, open interest near $495 million and neutral funding rates reflect balanced positioning.
Sustained positive spot CVD could help defend $0.70 and support another move toward $0.7875, while weaker demand would increase downside risks.
Source: AMBCrypto
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