SUI Loses Momentum, Drops 6% as Stronger Dollar Sparks Broad Crypto Sell-Off

SUI Slides 6% as Crypto Market Faces Broader Pressure from Strengthening U.S. Dollar

SUI, the native asset of the Sui blockchain, fell nearly 6% in the past 24 hours, retreating to $4.04 after briefly touching $4.44 during overnight trading. The drop reflects broader weakness across crypto markets, driven in part by renewed strength in the U.S. Dollar Index, which climbed almost 1%—a typical headwind for digital assets.

The token initially rallied on a surge in volume, with trading activity spiking to 32.37 million tokens—well above daily averages. However, that upside momentum quickly faded as sellers regained control. SUI closed the session at $4.11, marking a 5.25% intraday decline.

Technical data from CoinDesk Analytics shows emerging resistance between $4.20 and $4.24, with support potentially forming between $4.08 and $4.09—a zone that may signal a double-bottom structure if held.

The broader market backdrop also weighed on performance, with the CoinDesk 20 Index dropping 1.4% on the day.

Still, SUI remains one of the stronger performers in July. It is up 46% over the past month, outpacing the CD20 Index’s 33% gain. The token’s resilience reflects rising developer activity and increased capital flows into the Sui ecosystem, which recently surpassed $2 billion in total value locked (TVL), according to DeFiLlama.