Foreign media reports that SUI's recent pressure stems not only from price movements, but also from the ongoing mainnet shutdowns and the upcoming token unlocking, which are simultaneously undermining market confidence. The current price has fallen to the $0.86 to $0.90 range, and the market is watching whether it can regain a foothold around the $1 level.
Prices fell back to low levels
The article argues that SUI has been weak since encountering resistance around $3.80, consistently forming lower highs and lower lows. By late 2025, the $2.04 support level was breached, further intensifying selling pressure; the subsequent drop below $1.42 turned what was previously a demand zone into resistance.
In March and April of this year, the $1 mark became a defensive level for the bulls, and prices briefly consolidated around this level. However, after multiple tests, the support gradually weakened, and the SUI eventually slipped to around $0.86 to $0.90.
A rebound in May pushed prices back to around $1.40, indicating continued buying interest at lower levels. However, this rebound failed to establish a higher high. The article argues that current buying is more about absorbing selling pressure than driving a trend reversal.
The mainnet's two shutdowns have impacted confidence.
Besides price factors, the Sui network itself has also become a source of market concern. On May 28, the Sui mainnet temporarily stopped producing blocks, and after the news broke, SUI fell by about 8% that day. The market's focus was not on overall volatility, but on the risks associated with infrastructure operation.
Although validators subsequently restored the network by coordinating patches, it stalled again less than 24 hours later. The article states that this was Sui's third major failure in 2026, leading to questions about the stability of its upgrades and the collaborative capabilities among validators.
The timing of this outage was also quite sensitive. The second shutdown coincided with the launch of CME futures, and what could have been an event attracting institutional attention was instead overshadowed by network instability issues. Previous progress in payment applications has also been subject to increased scrutiny due to these consecutive outages.
23.78 million tokens are about to be unlocked
The article mentions that 23.78 million SUI tokens will be unlocked on June 1st. Given the already weak market sentiment, this increased supply may continue to suppress price recovery.
In terms of relative performance, SUI has fallen by 20.1% over the past 7 days, with its price dropping from approximately $1.13 on May 23 to $0.90 on May 29. The article argues that this decline indicates traders are currently more focused on SUI's own inherent risks rather than simply following broader market fluctuations.
Overall, foreign media believe that SUI is currently facing triple pressures: price support, network stability, and new supply. If it cannot quickly return above $1, the short-term rebound may still encounter continued selling pressure.
