$SUI

{future}(SUIUSDT)
Looking back at this moment (mid-May 2026), SUI's recent movement is indeed impressive. The price started at $0.92 at the beginning of the month, and in just over a week, it surged to a high of $1.41, up over 50%, becoming the most eye-catching Layer 1 asset in the market.
I think the core driver is the "instant depletion" of circulating supply. SUI Group Holdings, listed on NASDAQ, suddenly staked all 108.7 million tokens (accounting for 2.7% of the circulating supply), directly removing sell orders from the market. Plus, with the CME futures launching and opening institutional channels, and a high staking rate of 74%, short positions were squeezed, further amplifying the rally.

But upon closer inspection, risks are also present. The 4-hour RSI surged above 84, indicating severe overbought conditions, and the daily SAR also showed divergence signals. In the next few days, it’s likely to retest support around $1.21 - $1.22. If it holds, there’s potential to push toward $1.50 or even $1.62. However, if the ecosystem development falls short of expectations or token unlocks cause selling pressure, a drop below $1.12 could signal a temporary pause in this rally.