SUI Price Plunges as Sector Rotation Takes Toll

The price of SUI has been declining due to sector rotation and a fragile chart structure, causing it to trail behind a broadly flat market. It's currently trading at $0.730, down 1.40% over the past 24 hours.

Analysts are watching the $0.71-$0.73 support area closely, as it's considered a critical level for the price to hold or break through. Bitguru and Ali Martinez have set their sights on a potential rebound to $0.85 if buyers can defend this floor.

However, there are also concerns about the network's growth metrics, which show stablecoin balances increasing while total value locked has fallen sharply. This could indicate that available liquidity hasn't translated into broader DeFi deposits.