SUI Token Slides 5.27% Amid High Trading Volume, DeFi Growth, and Mixed Technical Signals

SUIUSDT is currently trading at 2.7612 on Binance, reflecting a 5.27% decline over the past 24 hours from a 24h open of 2.9147. The recent price drop can be attributed to profit-taking and short-term volatility following its earlier gains in June, as well as mixed technical signals, including a cooling momentum indicated by the RSI and resistance near the $3.10–$3.30 range. Despite a robust 24-hour trading volume exceeding $1.1 billion and a strong market cap ranking (#12), SUI’s price has retreated toward the lower end of its recent monthly range, even as its total value locked remains high and DeFi activity continues to grow. Market sentiment appears cautious in the short term, but underlying fundamentals such as protocol upgrades and increased TVL support continued interest in the asset.