SUI Price Eyes $10 Peak as Analysts Confirm This Pattern

SUI price is drawing attention once more due to technical shaping up, an expanding ecosystem, and news about ETFs. The SEC has recognized the filing by 21Shares for a SPOT SUI ETF, which proves the asset’s potential among institutions.

In addition, analysts are expecting the breakout to happen closely, sending SUI price to $10 once the market moves above its main support.

SUI Price Forms Bullish Wedge Toward $10

SUI price currently trades near $3.22 after bouncing from a wedge support formed on the weekly timeframe. James pointed out a chart that included targets based on Fibonacci, saying that the rising wedge was still in place at $8 and $10. According to him, it could be the last moment investors should buy before a renewed price rise.

The pattern reflected symmetry across two legs, with both showing 1.618 extension zones near $10. Price has stuck to major support and resistance levels, and momentum indicators are still showing neither positive nor negative trends. The upper resistance for the wedge can be located at $4.12.

He pointed out that past $4.12, Bitcoin could repeat the explosive first leg of the uptrend. The bullish pattern is intact so long as the price is above $3.00 on the weekly close.

SEC Confirms 21Shares SUI ETF Filing

On June 4, Matteo stated that the SEC had acknowledged that 21Shares had officially filed for a spot SUI ETF. Even though it hasn’t happened yet, getting this approval boosts the argument for the investment. It follows the same process seen in recent approvals for BTC and ETH ETFs.

With the ETF filing, investors enjoy easier access compared to those with self-custody. Additionally, it suggests that SUI is gaining recognition as a regulated type of asset class. Analysts say that this development could alter the long-term trajectory of crypto prices because it may encourage traditional financial institutions to increase their investments.

Institutional attention typically increases liquidity and reduces volatility. If the ETF is successful, it could spark growth in SUI price from increased interest in regulated products.

Ecosystem Growth Supports Bullish Case

CryptoED provided a macro analysis suggesting SUI’s recent retracement is structurally healthy. According to him, the token’s strong run in the cycle is driven by billions invested in the platform, the emergence of new ecosystems, and steady usage. He added that this is only the first probable step in a larger process.

His accompanying chart showed SUI price holding support near $3.20 while the RSI cooled from previous peaks. The amount of capital locked in DeFi protocols is increasing, which supports the ongoing demand for these services. More people are discovering SUI since it now offers strategic partnerships and staking incentives.

The signs suggest that the retracement meant the trend was only paused and did not reverse. CryptoED said bullish sentiment is growing, mainly driven by the prevailing narratives of large institutions towards the ETF.

SUI Price Tightens Under $4.12 Resistance

Additionally, the chart from Gerlaenco pointed to the $4.12 level as the last resistance before the price began to rise. He noted that volatility had gone down and that a base of highs was forming under resistance. SUI price previously rejected this level but has since formed a base above $3.20.

If $4.12 breaks, the next important zone could be around $7.00–$8.00. Volume has slowed, a typical characteristic before range expansion. When price is consolidated within narrow candles, traders expect that markets may become more active.

Furthermore, Gerlaenco highlighted the region between $4.12 and the current price as a “clean zone” with little historical resistance, so price movement could be rapid. In the following 48–72 hours, emerging trends may decide where the price will head, and investors’ risks are clear for both bulls and bears.

Meanwhile, at press time, SUI price traded at $3.2, reflecting a 3% decline over the past 24 hours. The daily trading volume was $694 million, representing a 9% decrease from the previous day. With a circulating supply of 3.39 billion tokens, SUI held a market capitalization of $10.93 billion.

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