Sui's price movement today is largely influenced by the broader market's bearish conditions, which have led to a significant decline in altcoin prices. Despite recent partnerships and integrations, such as the collaboration with Arkham Intelligence to enhance blockchain analytics, Sui has struggled to maintain its upward momentum. The market's selling pressure has pushed Sui's price below its consolidation support, reflecting the challenges faced by altcoins in the current market environment.
The technical analysis indicates that Sui is encountering strong resistance near the $5 psychological level, with multiple price rejections as it attempts to surpass this mark. The recent pullback in the broader market has caused Sui's price to drop to a new 24-hour low, although it has shown some resilience by recovering slightly. However, momentum indicators like the MACD and RSI suggest a continuation of the bearish trend, which has contributed to today's price decline.
Sui's price has decreased by 4.41% today, currently trading at $4.1451. The cryptocurrency reached a high of $4.570896 and a low of $4.098439 during the day.