币界网报道：Sui [SUI] is currently fluctuating within a descending channel pattern, having recently risen by over 20% and has begun to approach the upper boundary at press time. However, it is facing selling pressure, mainly due to the historical resistance at the upper boundary and the recent large-scale token unlock of Sui Network. $164.44 million worth of SUI is about to be unlocked. According to the token unlock details shared by CryptoRank, on July 1, Sui Network will unlock 58.35 million tokens worth $164.44 million. This unlock accounts for 1.72% of the total market value of SUI. Analysts and the market generally view such large-scale token unlocks with caution as they can be a potential source of selling pressure and can trigger a short-term decline due to the increase in token supply. This bearish signal and potential price decline is further strengthened by the overall market uncertainty. Price Impact: At the time of writing, SUI is trading near $2.72, down 1.75% over the past 24 hours. Investor and trader participation has also declined during this period. Data from CoinMarketCap shows that during this period, SUI’s trading volume has dropped by 10% compared to the previous day. The drop in trading volume indicates a decrease in participants’ confidence and interest in the token. According to AMBCrypto’s technical analysis, SUI currently looks bearish due to the ongoing token unlocking and the breakout of key support levels. The asset has been running along an uptrend line as it moves from the lower boundary to the upper boundary. If SUI manages to close a four-hour candle below the uptrend line, there is a high probability that the asset will drop by 10% to 12% to the $2.40 level. This bearish outlook and market sentiment may change if the coin breaks out of the descending channel pattern; otherwise, it is likely to remain sideways or in a downtrend. At press time, the asset is trading below the 50-day exponential moving average (EMA) on the daily chart, suggesting that it will remain in a downtrend as long as the price remains below this level. Bearish view among traders: On-chain analytics firm CoinGlass reports that traders appear to be aligned with the bearish outlook. Analysis from AMBCrypto shows that traders are overleveraged at the $2.67 support level, holding $12.45 million worth of long positions. $2.848 is another overleveraged level, where traders have established $16.66 million worth of short positions. Taken together, the data suggests that bears are currently in control and believe that SUI is unlikely to break above the $2.848 level in the near term. $16.4 million worth of SUI outflows: Investors and long-term holders appear to be accumulating and taking advantage of the asset's price dips. Data from spot inflows/outflows shows that exchanges across the crypto space have recorded $16.4 million worth of SUI token outflows. This large outflow indicates potential accumulation amid current market sentiment and suggests that this could be an ideal time for long-term accumulation.