SUI is experiencing a surge in price action and market indicators suggest an imminent breakout. Analyst Crypto Patel, known for his insights on cryptocurrency markets, highlights this bullish momentum on his X (formerly Twitter) feed, attributing the upward trend to expanding DeFi applications and increasing institutional investments. However, Patel notes a critical factor that traders should be aware of: ongoing token unlocks. 44 million SUI tokens worth roughly $143 million were just released into circulation. This alone represents about 1.32% of the circulating supply, significantly impacting short-term price movement. According to Patel, with around $140 million in tokens unlocking each month, sellers might step in. The weekly SUI chart reveals a clear ascending channel dating back to mid-2023, where the token has repeatedly tested both upper and lower trendlines. This sustained upward trend is further validated by the fact that it broke out from the $2.80–$3.00 zone. 4. The price currently sits near the midpoint of this channel at around $3.23. 4 Patel, who sees potential in SUI’s long-term growth, plans to increase his position if prices rebound to this zone. As for support, the $1.50–$2.00 range has historically served as safety net during pullbacks. While short-term selling pressure due to unlock events is a concern, long-term projections remain positive. The current trend channel suggests that SUI price could target $6 to $7.50 in the coming weeks. Patel envisions a potential move to $10 or even higher if momentum continues. 4 Long-term targets between $15 and $20 are also predicted assuming market support is maintained and sell pressure from unlocks is absorbed. As an early adopter of SUI, Crypto Patel entered the market at prices ranging from $0.50 to $0.60. He reaffirms his strategy to accumulate more SUI when prices reach around $2.80. This aligns with the re-accumulation zone visible on the chart, suggesting some investors see dips as opportunities. The overall trend suggests that as long as supply increases and demand grows, SUI’s price movements will be shaped by this balance in the coming months.