SUI has become one of the most watched altcoins as institutional interest and retail participation continue to rise across the crypto market. The current price is AUD 2.39, with the asset recently dropping 0.85% to USD 1.60 in the past 24 hours, underperforming the overall crypto market's decline of 0.4%. Despite the short-term weakness, SUI has achieved a strong increase of 18% over the past week, demonstrating the ongoing resilience and interest of market participants. The reasons for the decline can be attributed to three key factors. First, SUI faced technical resistance at the support level of USD 1.61. Second, market sentiment has turned cautious, with Bitcoin's market dominance rising to 58.55%, putting pressure on altcoins. Third, trading volume decreased by 23%, falling to USD 763 million, which weakened immediate bullish momentum. Understanding these factors is crucial for traders looking to formulate informed strategies on platforms including Gate.com.