SUI Token Slides Nearly 6% Amid Brief Surge and Broader Market Pressure from Firm Dollar

SUI Drops Nearly 6% Amid Market Sell-Off and Stronger U.S. Dollar

SUI, the native token of the Sui blockchain, declined nearly 6% over the past 24 hours, falling to $4.04 after briefly rallying to $4.44 overnight. The reversal came amid a broader crypto market downturn and renewed strength in the U.S. Dollar Index, which climbed nearly 1% on the day—typically a bearish signal for digital assets.

The initial surge in SUI was accompanied by a sharp rise in trading volume, reaching 32.37 million tokens—significantly above average. However, momentum quickly shifted, with the price slipping below key support levels. The token ended the session at $4.11, down 5.25%.

Technical indicators suggest short-term resistance is building between $4.20 and $4.24, while a potential double-bottom formation may be developing in the $4.08–$4.09 range.

Market-wide pressure also weighed on sentiment, as the CoinDesk 20 Index dropped 1.4% over the same period.

Despite the pullback, SUI has gained 46% in the past month—outperforming the broader market—driven by strong developer activity and growing interest in its ecosystem. According to DeFiLlama, total value locked (TVL) on Sui surpassed $2 billion earlier this month, reinforcing its momentum among layer-1 platforms.