Sui Price Analysis: Market Selloff Pushes Prices to Key Support

The Sui cryptocurrency (SUI) experienced a significant decline in price, dropping 3.25% in the last 24 hours to $3.72 and losing 4.63% over the past week. This drop has resulted in a market cap of $13.09 billion, alongside a noticeable decline in trading volume, down 37% to $1.32 billion. This decrease reflects investor caution amidst a broader cryptocurrency market downturn. The selloff is largely attributed to recent U.S. CPI data revealing an annual inflation rate of 3.3%, causing a 1.5% drop across the crypto market and triggering liquidations of $1.05 billion in cryptocurrencies.