{"id":4760,"date":"2025-07-02T13:02:36","date_gmt":"2025-07-02T13:02:36","guid":{"rendered":"https:\/\/bitunikey.com\/news\/sui-struggles-to-reclaim-3-is-more-downside-ahead\/"},"modified":"2025-07-02T13:02:46","modified_gmt":"2025-07-02T13:02:46","slug":"sui-struggles-to-reclaim-3-is-more-downside-ahead","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/sui-struggles-to-reclaim-3-is-more-downside-ahead\/","title":{"rendered":"SUI struggles to reclaim $3, is more downside ahead?"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p>The native token of the layer-1 blockchain Sui has traded sideways over the past few weeks, raising questions about whether it will rebound or extend its losses into July.<\/p>\n<p>Trading around $2.71 at press time, SUI (SUI)has struggled to regain bullish momentum since slumping from its highs earlier this year. Despite recording a modest 1.4% uptick in the past 24 hours, SUI remains under pressure, dropping 15.5% over the past 30 days, approximately 22.9% from this month\u2019s peak of $3.50, and 48.1% below its all-time high of $5.20.<\/p>\n<p>SUI\u2019s decline appears to be driven by a mix of technical and supply-side factors. The token has been in a downtrend for most of the month, falling below its 50-day moving average and forming a descending channel.<\/p>\n<figure class=\"wp-block-image\"><figcaption class=\"wp-element-caption\">SUI\u2019s price trend | Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/chart\/VFgmXGfd\/?symbol=BINANCE%3ASUIUSDT\" target=\"_blank\">TradingView<\/a><\/figcaption><\/figure>\n<p>The weakness also comes amid a broader cooldown in the crypto market, as several major assets attempt to stabilize following the recent Iran-Israel geopolitical tensions that triggered a sharp sell-off.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Adding to the pressure is Sui Foundation\u2019s latest token unlock, which saw 44 million SUI tokens, worth about $120 million, enter circulation on July 1. The unlock is part of a long-term schedule that adds over 55 million tokens each month through 2030, creating a recurring supply overhang. <\/p>\n<p>SUI\u2019s circulating supply now stands at 3.45 billion, about 34.5% of the 10 billion total supply, with more than 5.2 billion tokens still locked.<\/p>\n<p>Adding to the bearish tone is a decline in open interest in SUI futures, suggesting declining trader conviction. Currently, Open Interest <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/currencies\/SUI\" target=\"_blank\">sits<\/a> at around $1.18 billion, down from a May peak above $2 billion. This fading activity in derivatives trading points to fading confidence among market participants.<\/p>\n<p>For now, downside risk remains, and traders are now watching $2.30 as key support. A decisive move below this level could further deepen losses unless sentiment across the broader crypto market shifts.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The native token of the layer-1 blockchain Sui has traded sideways over the past few weeks, raising questions about whether it will rebound or extend its losses into July. Trading&hellip;<\/p>\n","protected":false},"author":1,"featured_media":769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/4760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=4760"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/4760\/revisions"}],"predecessor-version":[{"id":4761,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/4760\/revisions\/4761"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/769"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=4760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=4760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=4760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}