SUI Soars 150% as $215 Million Token Unlock Approaches

• SUI surged 150%, rising from $1.71 to $4.30, driven by bullish technical signals like a golden cross.
• A $215 million token unlock on June 1 could trigger short-term selling pressure and test support near $3.40.
• On-chain strength continues, with $40B+ in aggregator volume and a 24% rise in network activity over 30 days.

SUI has become one of the crypto market’s most talked-about tokens in recent weeks, following an explosive 150% rally, but a looming $215 million unlock could shake up the narrative.

In a market often defined by volatility and breakout narratives, SUI has emerged as a clear standout. The Layer 1 blockchain token surged from $1.71 to $4.30, marking a jaw-dropping 150% rally that has left traders and analysts scrambling to reassess its trajectory.

The rally was not without technical substance. According to widely followed analyst Sir Richard, the recent price surge coincided with a golden cross on the daily chart, where the short-term moving average crosses above the long-term average, a bullish signal often seen as a precursor to extended upward momentum. With this formation in place, Sir Richard forecasts that SUI could be eyeing the $7.56 level next, a potential 380% gain from previous lows. But even as momentum builds, caution is warranted.