- SUI is teetering on critical support around $3, with major unlock pressure incoming on July 1.
- SOL has over $76 million in tokens set to hit the market across two events, yet still shows a bullish setup.
- Traders should buckle up — the next week could get bumpy for both tokens.
Crypto traders are bracing for some serious action as two major unlock events are set to hit the markets soon — and the focus is on Sui (SUI) and Solana (SOL). Combined, over $250 million worth of these Layer-1 tokens will be released, potentially rattling prices and shaking up sentiment across the board.
First up, on July 1, the Sui Network is expected to unlock about 58.35 million SUI tokens. That’s roughly 0.58% of its total supply and valued at around $178.5 million — which is no small chunk, amounting to 1.71% of its current market cap, according to CryptoRank data.
Then there’s Solana. On the same day, the FTX Estate is scheduled to release 12.7K SOL — not massive in isolation (worth $1.99M), but just wait. A much bigger unlock of 472.99K SOL (about $74M) follows a few days later on July 7. So yeah, fireworks could be ahead.
SUI’s Chart Shows Cracks (but not all hope’s lost)
Zooming in on SUI’s price action, it’s currently sitting around $3.06, testing a support zone near the 0.382 Fib level at $3.02. If this floor gives way, it’s likely we’ll see a move toward $2.85 (Fib 0.5), maybe even $2.68 if the selling pressure picks up steam. Not exactly comforting for bulls.
The Balance of Power (BoP) spiked to 0.30 recently — which means buyers were trying to take control — but let’s be honest, with a major unlock about to flood the market, that strength could fade real fast.
SUI also couldn’t clear the $3.22 level (Fib 0.236), which puts even more pressure on the bulls. If it drops below $3 and can’t reclaim that level quick? Things could turn ugly, fast.
Solana Hanging Tight… For Now
Surprisingly, despite the looming $76M+ in token unlocks, some traders still see upside for SOL. World of Charts, a known chart watcher on X, says SOL’s been consolidating inside a bullish pennant — a breakout from here could catapult it toward $185, which is both a technical wall and a key resistance psychologically.
If — and it’s a big if — SOL can close strong above $185 on the daily, analysts think $250 might actually be on the table. That’s the next major target, but of course, much of this hinges on whether the unlocks trigger a dump… or get absorbed without too much fuss.
