Sui Price Forecast: ETF Filing Makes SUI Surge Past $3.50 And Eye All-Time High

Trading volumes have gone up by more than 30% in the past 24 hours and currently stand at $1.6 billion as traders’ interest in the token has not waned.

In the past month, SUI has delivered gains of 56.6% and has emerged as the best-performing token within the top 10 during this period.

In a previous article, we highlighted that a bullish breakout above the $3.5 level would put SUI on route to retest its all-time high as the price action will enter a low-volume area where bulls would be in full control.

Today’s strong volumes seem to be confirming that the market is prepared to push this token to new heights as its downtrend has been fully reversed.

21Shares Files Application for SUI ETF

Sui has made some big announcements in the past few hours that could have catalyzed today’s strong uptick.

First, they teased the launch of sBTC. A Sui-based tokenized asset with a 1:1 ratio to Bitcoin (BTC) that should help expand the network’s DeFi ecosystem by allowing users to lend, trade, and earn yield on their BTC investment.

Moreover, Sui announced that 21 Shares, a U.S.-based asset management firm, has filed an application with the Securities and Exchange Commission (SEC) to launch a SUI-linked ETF.

This announcement comes just days after Grayscale, another asset management firm, launched its Sui Trust – a SUI-linked investment vehicle that is now available for accredited investors.

As institutional adoption accelerates and the Sui ecosystem keeps expanding, the project’s outlook seems to be quite positive and supports further upside ahead for its utility token.

Bullish EMA Crossover Could Result in New ATH

Heading to the charts, the daily chart shows that SUI has jumped above its value area in the volume profile, meaning that the price is now entering low-volume zones where volatility will likely rise.

Momentum indicators are quite stretched as the Relative Strength Index (RSI) has entered overbought territory. Although this typically means that the token is due for a pullback, it also indicates that this uptrend is quite strong.

The most relevant technical signal at the moment is a bullish crossover between the 21-day and 200-day EMAs.

The last time this happened in the daily chart, the price of SUI skyrocketed from $1.17 to its current all-time high of $5.35 for a 353% gain. Hence, this is a major buy signal that even long-term investors can’t ignore.

If SUI rises to its all-time high, this means an upside potential of 44% ahead. However, if history repeats, this token could offer much higher gains if this bullish impulse is as strong as the one that happened last year.

Market sentiment has been improving lately despite some lingering macroeconomic headwinds. Investors seem to believe that the Federal Reserve will be forced to lower rates to cushion the impact that President Trump’s hostile trade policy will have on the U.S. economy.

Yesterday, the United States GDP shrunk by 0.3% on a quarter-on-quarter basis. Although the full impact of higher tariffs was still not visible during this period, the market interpreted it as a sign of weakness.

Lower interest rates are supportive of higher crypto prices and this will benefit altcoins like Sui. Hence, although the macro backdrop could look like a threat on the surface, the latest developments have actually opened the door for some supportive monetary policy measures that could result in higher prices down the road.