Sui price drops slightly as 21Shares changes application for SUI ETF

Sui price fell a fraction of a percentage over the past 24 hours, trading at $2.46 as of 4 a.m. EST, while trading volume fell 21% to $843 million.

That’s even as 21Shares updated its Sui exchange-traded fund (ETF) filing with the U.S. Securities and Exchange Commission (SEC).

The company filed a second amended S-1 for its spot Sui ETF application after the market closed on October 23. The issuer has updated its Sui ETF with crucial information, but there is no mention of the ticker and fees.

$SUI ETF update: @21shares $SUI Spot ETF S-1 Amendment #2 filed with #SEC after market close today.@SuiNetwork @21shareshttps://t.co/U9NJcdqnDm pic.twitter.com/fxNKfG3ztz

— MartyParty (@martypartymusic) October 23, 2025

Meanwhile, the filing shows that 21Shares US LLC has entered into a staking services agreement with Coinbase Crypto Services.

21Shares updated its filing to list Nasdaq as the exchange for listing and trading its shares. The issuer added that Bank of New York Mellon will be the ETF’s cash custodian.

Could the token’s price rise significantly now that the ETF is about to open a wider market for Sui products?

SUI price poised for a recovery above key resistance levels

The SUI award has been in a long-term downtrend since mid-July, consistently trading within a descending channel pattern that has kept the token under intense bearish pressure.

After reaching a high of near $5.21 earlier this year, Sui price gradually rebounded, testing multiple Fibonacci retracement levels before settling near $2.40, where it is currently hovering.

The downward move has recently found support at the Fibonacci level of 0.236 at $2.39, a key technical zone that has helped stabilize the SUI price after an extended selling period.

Meanwhile, the 50-day Simple Moving Average (SMA) is at $3.22, which closely matches the 200-day SMA ($3.22). This overlap forms a critical confluence resistance zone that SUI must regain as support to confirm a shift from bearish to bullish momentum.

Furthermore, the Relative Strength Index (RSI) is around 36.29, indicating it is almost in oversold territory. This reading suggests that bearish momentum could be slowing, and buyers could soon step in to fuel a near-term rebound.

A push of the RSI above the 40-45 zone would further confirm increasing buying interest and a possible trend reversal attempt.

SUI Price Prediction: Bulls Eye recovery towards resistance at $3.17

According to the current SUI/USD chart structure, Sui price is trying to recover from the lower limit of its descending channel.

Immediate resistance is at $2.69, in line with the 0.382 Fibonacci retracement, followed by $2.93 and $3.17, representing the 0.5 and 0.618 Fibonacci retracement levels, respectively. These levels, specifically the $3.17 region, coincide with both the 50-day and 200-day SMAs and form a key resistance cluster that will likely determine the next directional move.

If bulls push Sui’s price above $3.20, it could trigger a sustained recovery towards $3.54 (0.786 Fib) and possibly higher towards the mid-channel.

However, the inability to hold support at $2.39 could expose SUI to further downside risk, with the next major support target near $2.00-$1.91, in line with the lower bound of the Fibonacci retracement zone.

Related news:

Best Wallet – Diversify Your Crypto Portfolio

• Easy-to-use, feature-driven crypto wallet
• Get early access to upcoming token ICOs
• Multi-chain, multi-wallet, non-custodial
• Now in the App Store, Google Play
• Stake to earn native token $BEST
• 250,000+ monthly active users