Sui Network (SUI) Jumps 9% as 21Shares Files for U.S. ETF, Price Pushes Toward $4 – CryptoMode
The SUI Network (SUI) climbed more than 9% to $ 3.73 after 21shares filed in the SEC for a US-based funds based on US tracking the Layer-1 token.
The move came next to a newly announced strategic collaboration between the 21shares and the SUI Foundation, the project that oversees the SUI Network, indicating the deeper alignment of the institutional forward. While no US or ticker exchange has been determined, Coinbase is listed as a caregiver – a well -known vote of confidence.
This filing follows a similar proposal from the Canary Capital in March, as asset managers will speed up plans to bring Altcoin ETFs to the US markets. In the Decoin and XRP ETF decisions delayed until June, Sui now joined a short list of tokens with active ambition of ETF in 2025.
Chart structure indicates momentum return
Sui's price action over the past two weeks has exploded, rallying more than 80% from mid-April lows to recover the $ 3.60- $ 3.70 zone. In the daily chart, the SUI trades more than 21-day EMA ($ 2.95) and 200-day SMA ($ 3.23)-a structure that marks a full bullish contraction. The RSI has expanded to 77, while stochastic oscillator values near 88 suggest strongly reversed pressure with potential short -term overheat.
The MACD momentum has made a certain positive. The amount of expansion of volume and volatility in revised interest in both retail and imaginary desks. It's not dead cat bounce – the token has flipped earlier resistance to support and is now looking at the level of $ 4.
With Sui Surging and Trading Volume Topping $ 1.7 billion in the last 24 hours, the momentum is speeding. The token has added more than $ 5 billion to the market cap since mid -April and is now only ranking outside the global Top 10.
Technical, SUI traded 13.5% above the 200-day SMA and 23% above its 21-day EMA-with history preceded by the continuation of multi-day operations on altcoin breakouts.
If ETF's speculation or 21shares expands product offerings tied to the SUI ecosystem, the $ 4.00- $ 4.20 zone can be evaluated within days. In ETPs enabled by staking Europe and the US demands heating, SUI is rapidly emerging from the L1 contender to the eligible ETF capital.
In February, the OKX Wallet added SUI, which allowed users to trade and store SUI tokens, expanding the collaboration between the exchange and platform of the blockchain. Similarly, the price has fallen due to many other integrations. A few weeks ago, Cryptomode reported how the SUI Network launched a Virtual Mastercard integration in Europe.
