Sui, the native token of the Sui Blockchain, has dropped almost 6% in the last 24 hours, retiring to $ 4.04 after briefly jumping to $ 4.44 during the night. The measure occurred at the back of an increase in token volume of 32.37 million, well above the daily standards, before selling intensified and lower prices, as shown in Coindesk Analytics data.
Bulls initially kept the line at $ 4.32, but Bears took advantage of the impulse when Sui passed through key technical levels. The Token closed the session at $ 4.11, a 5.25%drop. COINDESK ANALYTICS shows that the resistance is now formed between $ 4.20 and $ 4.24, while a double fund seems to be developing at $ 4.08 to $ 4.09.
The broader weakness in cryptographic markets may have added to pressure. The Coendesk 20 index has dropped 1.4% on the last day. An increase of almost 1% in the US dollar index today, often a wind against risk assets such as cryptocurrencies, coincided with the decline of the entire market, including the sui slide.
Even so, SUI increased 46% in the last month, exceeding the gain of 33% of CD20. This growth tracks the growing interest in the sui ecosystem, which saw the total value blocked exceeding $ 2 billion earlier this month, as defiliates.
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