Sui (SUI) Outperforms Today's Crypto Market Slump, Native Token Surpasses $1.00 Resistance Level

Sui, a layer-1 blockchain network, has witnessed its native token, SUI, outperform today's crypto market slump. Its price exhibited a massive uptick of

Sui (CRYPTO: SUI) price rose a whopping 20.54% in the last 24 hours on Friday, defying today's crypto market decline.

As a result, the token price rose above the $1.00 psychological resistance level last observed on June 14, and SUI was last traded at $1.09.

After this optimism, the token's daily market value also reached new highs, reaching $2.82 billion, making it the 30th largest cryptocurrency according to the rankings. In addition, the 24-hour trading volume paints a brighter picture and reached 715.26 million dollars with an increase of 161.04% in the same period.

On the other hand, the global crypto market tells a different story and declines to 2.11 trillion dollars with the decline led by Bitcoin. Currently, BTC is trading at the $58.4k support level, down 3.59% in the last 24 hours.

SUI Bullish Reversal After 9-Month Low

As seen on TradingView's daily chart, SUI token price has trended downwards since its all-time high of $2.18, making lower lows. However, the mood changed on August 5 when the token price reached a 9-month low of $0.4623.

Since then, its price has skyrocketed more than 122% to reach its current level and broke through the key resistance at $1.00, indicating solid bullish momentum in the market.

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