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Key Insights:
- Nasdaq files 19b-4 to list 21Shares Sui ETF, starting SEC review amid growing institutional interest in SUI token.
- SUI price holds firm above $3.5 support, showing steady volume and higher lows despite recent market volatility.
- Strong short interest on Binance could trigger a short squeeze if SUI breaks resistance near $3.97 to reach $4
The SUI price is currently trading around $3.63, holding steady above the crucial $3.5 support level. This support zone has helped prevent further declines during recent consolidation. Nasdaq’s recent filing of Form 19b-4 to list and trade the 21Shares Sui ETF has increased market focus on SUI. Investors are watching closely to see if the token can maintain momentum and push toward the important $4 price target in the coming weeks.
Nasdaq Files 19b-4 to List and Trade 21Shares Sui ETF
Nasdaq has submitted Form 19b-4 to the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the 21Shares Sui ETF. This filing officially starts the regulatory review process that will determine whether the ETF can be offered to investors on Nasdaq. The fund aims to provide direct exposure to SUI, the native token of the Sui blockchain network.
The ETF proposal by 21Shares follows an earlier registration with the SEC and is one of the few crypto funds focused on SUI. Another asset manager, Canary Capital, has also filed a similar ETF for SUI trading on the CBOE exchange. These filings come at a time when the SEC has delayed decisions on several crypto ETFs, including the recent CoinShares XRP ETF.
Industry analysts expect the SEC to take more time before approving crypto ETFs. Bloomberg experts predict that approvals may occur in the last quarter of 2025. Despite the regulatory uncertainty, Nasdaq’s filing is a notable step toward potential mainstream adoption of SUI-related investment products.
SUI Price Holds Strong Above $3.5 Support Level
According to TradingView, the SUI price has consistently tested and held the critical support zone between $3.4 and $3.5 in recent weeks. This support has prevented further declines and shows steady buying interest, with a pattern of higher lows indicating active buyers defending this zone. Trading volume near support remains steady, signaling accumulation rather than sell-offs. Currently, SUI trades near $3.63, slightly above the lower Bollinger Band at about $3.5.
The price has stayed above the 0.5 Fibonacci retracement level of $3.52, reinforcing the strength of this support. The Bollinger Bands show moderate volatility with the lower band near $3.5 acting as short-term support. Resistance lies near the middle band at $3.84 and upper band at $4.18.
The RSI is neutral at 50.78, suggesting the market awaits a catalyst. A break above $3.84 and RSI crossing 60 could confirm bullish momentum. A stop loss below $3.4 is advised to manage risk, targeting $3.84, $4.18, and higher levels.
Potential for SUI Price to Reach $4 and Beyond
According to AltCryptogems., SUI price has the possibility to reach $4 or higher. Around $3.97 which represents the 0.618 Fibonacci level, is the biggest resistance point after the market resistance seen at $4.052. If this test breaks, we might see another push toward the $4.18 highs which also matches the upper Bollinger Band.
According to Ichimoku Cloud analysis, prices are now near the upper part of the cloud. Moving above the cloud confirms that buy signals are still in play. I expect the price to head upwards mostly, with some limited pullbacks expected along the way.
A variety of long trades and many short interests help to support market sentiment. A move past the resistance level by the price on Binance or Bybit can cause a short squeeze. The pattern could speed up the progress toward $4 which means it’s a key area to keep track of.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
