SUI Token Dips 6% as Dollar Strength Weighs on Crypto Markets
SUI, the native token of the sui blockchain, dropped nearly 6% to $4.04 after failing to sustain an overnight rally to $4.44. Trading volume spiked to 32.37 million tokens before bearish pressure broke through key support at $4.32.
Broad market headwinds intensified as the U.S. Dollar Index rose 1%, creating pressure across risk assets. The CoinDesk 20 Index declined 1.4% alongside SUI's pullback. Technical analysis now indicates resistance forming between $4.20-$4.24, with potential support NEAR $4.08.
Despite the correction, SUI maintains a robust 46% monthly gain - significantly outperforming the broader market's 33% increase. The Sui ecosystem continues demonstrating strength, with total value locked exceeding $2 billion earlier this month.
