SUI Price Prediction: Bullish Cross Forms as ETF Filing Sparks Momentum
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SUI, the native token of the Sui blockchain, is showing signs of resilience after dipping to a low of $2.94 in the past 24 hours. The digital asset rebounded and is now holding firmly above the $3 level.
At press time, the asset trades at $3.0063, reflecting a 6.28% intraday drop following an 8% crash earlier this week, as per CoinMarketCap data. However, a major catalyst is driving interest in SUI post the recent filing by Nasdaq to list the 21Shares US Spot SUI ETF.
The Sui Foundation confirmed on June 10 that Nasdaq submitted a 19b-4 proposal to the US Securities and Exchange Commission (SEC), which officially initiates the review process.
This filing, which follows the S-1 registration by 21Shares in April, indicates growing institutional interest in the Sui ecosystem. While approval is still pending, the move significantly legitimizes SUI in the eyes of traditional finance.
SUI Technical Analysis: End of the Downtrend?
As per the daily chart below, SUI’s price action reveals encouraging signals. The daily chart shows a clear breakout from a descending parallel channel that had constrained price movement since mid-May.
The breakout came just after retesting the lower boundary near $2.92 – now acting as a strong support level – and briefly surpassing resistance at $3.55 before pulling back.
Crucially, the price remains above the $3.00 mark and has formed a bullish EMA crossover.
The 12-day EMA (currently at $3.2769) has crossed above the 26-day EMA (at $3.3617), a classic bullish signal that often precedes a trend reversal or sustained upside momentum.
SUI 1D Chart. Source: TradingView
The Relative Strength Index (RSI) on the daily timeframe is climbing out of neutral territory, indicating that bearish momentum is weakening while buying pressure gradually builds.
Similarly, the Moving Average Convergence Divergence (MACD) histogram is narrowing, suggesting that bearish momentum is tapering off and a bullish crossover could be imminent.
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