What you need to know:
- SUI token is trading at $1.30, down 7.19% in the past 24 hours, with weekly gains of 13.46%.
- Technical indicators point to a potential near-term reversal if support remains near $1.32.
- Institutional interest through SUI-focused ETFs could increase liquidity and market confidence.
Sui (SUI) is trading at $1.30, down 7.19% in the last 24 hours, with a 24-hour trading volume of $846.15 million, according to CoinMarketCap data. Over the past week, SUI has posted a gain of 13.46%, reflecting the continued volatility within the crypto market.
SUI price falls below the key liquidity zone
In X messageCrypto analyst Umair Crypto noted that after a break in the RSI trendline, the token slid into a key liquidity zone just below $1.32, which spans around $0.10. “This yellow box demand zone represents the first major area where a response could occur,” Umair said.
If momentum recovers in this zone, a near-term reversal could occur; If the level is not held, the token’s bearish trend may continue.
The token has entered a horizontal consolidation range between $1,325 and $1,699, a structure aligned with high-volume areas on the chart that could indicate accumulation or distribution. The lower limit of the range, near $1,325, acts as a crucial support level, which previously attracted buyers.
Technical indicators support a potential recovery: the RSI, now hovering between 30 and 40, signals oversold conditions that often precede corrective rebounds.
If support holds, the token could bounce back to the top of the range at $1,699, representing a potential upside of ~30-35% from the current price. Analysts warn that failure to maintain strength at this level would reinforce the prevailing downtrend.
Grayscale Files S-1 Amendment for SUI ETF on NYSE Arca
Institutional activity is increasing as Grayscale Investments, 21Shares, Bitwise and Canary Capital plan for SUI-focused exchange traded funds (ETFs). Grayscale recently submitted an amendment S-1 registration with the US SEC to list a SUI ETF on NYSE Arca, signaling a regulator-backed investor exposure vehicle.
Industry insiders say SUI ETFs can increase liquidity, stabilize volatility and broaden access for regulated investors. Evan Cheng, co-founder and CEO of Mysten Labs, said:
“The advent of SUI leveraged ETFs reflects growing demand from both institutional and retail investors, highlighting SUI’s emerging role in the capital markets.” Analysts predict that continued development of ETFs could accelerate mainstream adoption and drive innovation in the crypto-financial sector.
Also read | SUI Volatility Increases as TVL Crosses $920 Million and Support Levels Tighten
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