ETF Buzz Grows, But SUI Token Remains Range-Bound

SUI ETF Progress Fails to Lift Token as Market Headwinds Weigh

SUI, the native token of the Sui blockchain, saw little lasting momentum despite a key regulatory advancement in its journey toward a U.S.-listed spot ETF.

On Tuesday, Nasdaq filed a 19b-4 application with the SEC to list the 21Shares SUI ETF, marking a pivotal milestone in the fund’s path to approval. The move follows 21Shares’ earlier S-1 registration in April, and if approved, would make the SUI ETF the first of its kind available to U.S. investors.

The token initially broke above $3.49 resistance overnight on elevated volume — more than 13 million SUI tokens traded — as traders digested the ETF news. Market participants viewed the development as a step toward greater institutional access and legitimacy for the Sui ecosystem.

However, the gains proved short-lived. Broader macro concerns during U.S. trading hours sent risk assets lower, and SUI followed suit. As of writing, the token is down roughly 1%, despite earlier strength.

The CoinDesk 20 index, a benchmark for the broader crypto market, also struggled to hold gains, finishing the session just slightly in the green.

Key Technical Insights:

SUI briefly surged above $3.49, confirming a breakout on volume 50% higher than average.
Price found temporary support near $3.45–$3.46, but failed to sustain upward momentum.
Resistance at $3.50 now looms as a key hurdle for bulls.
Consolidation range formed near $3.48, suggesting indecision as market participants weigh ETF optimism against macro pressure.