SUI Token Slips to $3.72 as Crypto Markets Face Macroeconomic Pressure

Sui (SUI) is under increasing pressure as macroeconomic factors spark a broad cryptocurrency selloff. The token fell 3.25% over 24 hours to $3.72, with weekly losses hitting 4.63%. Its market cap now stands at $13.09 billion, while trading volume dropped sharply by 37% to $1.32 billion—highlighting investor risk aversion.

The downturn was triggered by U.S. CPI data revealing 3.3% annual inflation, wiping out $1.05 billion from crypto valuations. SUI recorded $119,000 in short liquidations compared to just $14,000 in longs, indicating strong bearish sentiment. Futures open interest declined 9.2% to $1.79 billion, with funding rates stabilizing at 0.0083%, signaling reduced leverage demand.

Technically, SUI's failed breakout above the $3.57 Fibonacci level on August 15 led to stop-loss cascades. The 30-day simple moving average now serves as key resistance, while $3.52 emerges as critical support. Market structure suggests consolidation before the next major price movement.