TLDR
- SUI price currently sits at $3.16-$3.21, recently dropping 3.3% from $3.32
- A $143.9 million token unlock releasing 44 million tokens is creating selling pressure
- Coinbase confirmed SUI futures listing on October 20, potentially increasing institutional interest
- SUI has historically shown strong rebounds from its ascending support trendline
- Technical analysis suggests a potential target of $4.50 if the current support level holds
The native token of the Sui network has experienced mixed signals in recent days, with institutional development counterbalancing a significant token unlock event. The current price movement shows SUI holding slightly above a key support level despite recent selling pressure.
SUI’s price recently declined by 3.3%, dropping from $3.32 to $3.21 as traders responded to news of a token unlock. The cryptocurrency broke through its $3.26 support late in the trading session, confirming downward momentum and approaching the $3.20 psychological threshold.
Trading volume data highlighted the selling conviction, with transactions spiking above the daily average of 6.9 million on two occasions. These spikes suggest coordinated exits by large holders responding to market conditions.
The primary factor driving the recent decline appears to be a token unlock by SUI Corporation. This event will release 44 million tokens between September 29 and October 6, valued at approximately $143.9 million.
This SUI unlock is occurring during a week where over $773 million worth of cryptocurrency vesting events are taking place across various projects. Similar unlocks from other projects like Ethena ($126.8 million), Eigen ($68.6 million), and Optimism ($21.3 million) are creating broader selling pressure across the altcoin market.
Historical Support Performance
Despite the current selling pressure, SUI has demonstrated remarkable resilience at its ascending support trendline throughout 2025. The cryptocurrency has showcased multiple strong rallies each time it tested this support level.
In April 2025, SUI rebounded strongly from this level, delivering a 121% surge in the following weeks. Then in July 2025, the same trendline again served as a launching point, fueling an 81% climb toward higher levels.
The current price action shows SUI testing this proven support zone once again. If history repeats itself, technical projections suggest a potential 44% rally could be possible.
Coinbase Futures Catalyst
While the token unlock creates short-term selling pressure, a major positive development could help counterbalance this effect. Coinbase has confirmed that SUI futures will be listed on its derivatives platform beginning October 20.
This development introduces SUI to a broader set of market participants seeking greater liquidity and alternative trading options. Coinbase has emphasized that futures listings typically open the door for deeper institutional involvement in selected tokens.
The timing creates an interesting convergence of technical support testing and potential institutional validation within the same timeframe. The introduction of SUI futures could strengthen its recognition among established assets and improve its market positioning.
For traders watching the technical picture, the next key challenge will be whether buyers defend the $3.20 level or allow further downside as the unlock cycle continues. If support holds, the next target remains the $4.50 resistance, which has capped rallies in the past.
The long-term SUI price outlook includes scenarios where the token could extend beyond $5 with strong institutional backing. Some analysts have predicted that a cup-and-handle formation could push SUI prices toward the $7.50 region.
SUI’s current market value sits at $3.16-$3.21, holding slightly above its drawn support and signaling possible continuation. The coming days will be crucial in determining whether the token can maintain this support despite the ongoing unlock event.
As the token unlock continues through early October and the Coinbase futures listing approaches on October 20, traders will be closely monitoring how these opposing forces impact SUI’s price trajectory.
The post Sui (SUI) Price: Coinbase Futures Listing Set for October 20 as Token Falls 3% appeared first on Blockonomi.
Source: https://blockonomi.com/sui-sui-price-coinbase-futures-listing-set-for-october-20-as-token-falls-3/