Sui Price Struggles: Is a 10% Correction Looming?

The price of Sui (SUI) is facing downward pressure, currently trading at around $3.40 after a notable 3.91% decline in the past 24 hours. This slide coincides with a significant dip in its market capitalization to $11.94 billion and a drop in trading volume, which fell by 10.5% to $1.62 billion. While the token has shed more than 36% from its peak of $5.35, traders are observing both technical weakening and softening ecosystem data as potential reasons for this downturn.