Sui (SUI) Price: SEC Reviews Canary Capital ETF Proposal Following 53% Weekly Surge
The post Sui (SUI) Price: SEC Reviews Canary Capital ETF Proposal Following 53% Weekly Surge appeared on BitcoinEthereumNews.com.
TLDR SUI surged 53% to $3.62 following SEC’s review of Canary Capital’s proposed spot SUI ETF Technical indicators show mixed signals with RSI at neutral 52.91 after cooling from overbought conditions Exchange outflows of $8.74 million suggest accumulation despite bearish sentiment metrics Key resistance at $4.25 with support levels at $2.80 and $2.29 Liquidation clusters between $3.80-$4.00 pose near-term resistance challenges. Sui token experienced a dramatic price surge this week. The cryptocurrency jumped 53% after news broke that the Securities and Exchange Commission began reviewing Canary Capital’s application for a spot SUI exchange-traded fund. The SEC initiated its formal review process on July 23, 2025. This development marks a major milestone for the Sui blockchain project. SUI currently trades at $3.62, down 3.77% in the past 24 hours. The pullback follows the token’s rapid climb from around $2.30 earlier this week. Sui Price on CoinGecko Market analysts view the SEC’s engagement as validation of Sui’s position as a legitimate Layer-1 blockchain. The regulatory review signals growing comfort with alternative blockchain assets beyond Bitcoin and Ethereum. Technical analysts had noted on July 22 that SUI short positions suggested a potential move above $4. This contrarian indicator combined with the ETF news created ideal conditions for the price explosion. Technical Analysis Shows Consolidation The Relative Strength Index for SUI sits at 52.91. This neutral reading indicates the token has cooled off from severely overbought conditions during the rally. The MACD histogram displays -0.0237, showing bearish momentum in the short term. Profit-taking activities are contributing to this temporary downward pressure. However, the overall MACD remains positive at 0.1952. This suggests the broader uptrend stays intact despite current consolidation phases. Sui’s position within Bollinger Bands provides additional context. The token trades at 0.5117 of the band width, indicating neither extreme fear nor greed. Exchange…
