The Sui token faces market pressure following a sharp decline in price, with a significant drop from its all-time high.
Current Sui Price Situation
The Sui token is currently priced at $3.40, down 3.91% in the last 24 hours. Its market capitalization is $11.94 billion, while the 24-hour trading volume has decreased by 10.5% to $1.62 billion.
Sui On-chain Data Analysis
The on-chain performance of Sui has cooled in recent weeks. Average DEX volume grew by 21% quarter-on-quarter to $368 million, but the growth was uneven. Platforms like Momentum and FlowX Finance saw increases of 8,594% and 1,548% respectively, while the largest DEX Cetus remained flat at $170.7 million. Meanwhile, TVL dropped 11% to $3.4 billion over the past week, indicating reduced user engagement.
Sui Price Technical Analysis
Technically, SUI is under pressure after breaking below its 50-day moving average at $3.69. Immediate support is near $3.32, with a more critical level at $3.27. A daily close below $3.27 could lead to a further decline of 10–15%. Resistance lies at $3.52, followed by $3.69 and $4.07.
Current data suggests weakening of Sui in a volatile market, but potential for recovery exists if price holds above key resistance levels.
