Sui Price Faces Downward Pressure Amidst Upcoming Token Unlock

The Sui (SUI) price has experienced a decline, hovering under the $4 mark and raising concerns about further losses. This weakness is fueled by market fatigue, the upcoming token unlock on August 1st, and overall reduced trader appetite. Further downward pressure is expected due to daily token unlocks in the coming week, adding to an already growing supply overhang. Experts remain cautious despite seeing a bullish inverse head and shoulders pattern developing on the price chart.