Sui (SUI) Price: SEC Delays ETF Decision as Bears Take Control

TLDR

SEC delays Canary Capital’s spot SUI ETF decision until July 24, 2025 SUI token falls 2.7% in 24 hours to $3.18, extending recent pullback Token now trades 40% below January all-time high of $5.35 Technical indicators show bearish momentum with price below key moving averages Analysts maintain long-term bullish outlook despite current correction

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The U.S. Securities and Exchange Commission has postponed its decision on Canary Capital’s proposed spot SUI exchange-traded fund. The delay has triggered renewed selling pressure on the Sui token.

SUI currently trades at $3.18, representing a 2.7% decline over the past 24 hours. The token has faced additional pressure over the weekly timeframe with an 11.93% drop during this period.

SUI Price

The latest setback extends a pullback that began after SUI reached a local high of $4.02 on May 22. The token now sits 40% below its all-time high of $5.35 recorded in January.

The SEC announced the delay in a June 4 filing regarding the ETF application submitted by Cboe BZX Exchange. The regulatory body said it would take more time to review the fund proposal. A decision is now expected by July 24, 2025.

The proposed ETF would offer regulated exposure to the SUI token through a traditional investment vehicle. Such products typically attract institutional investors who prefer regulated market access.

Technical Outlook Remains Bearish

Technical analysis reveals SUI trading well below key short-term moving averages. The 10-day and 20-day exponential moving averages now act as dynamic resistance zones.

Source: TradingView

The price has struggled to maintain levels above the lower Bollinger Band. This pattern suggests downside volatility may continue in the near term.

Momentum indicators reflect a market lacking clear direction. The relative strength index currently sits at 39, indicating some buying interest remains but the market is not oversold.

The MACD has crossed below the signal line, confirming negative trend momentum. This technical development supports the bearish outlook for the token.

SUI has established a trading range between $3.10 and $3.71 over the past week. Immediate support levels are found at $3.15 with resistance at $3.26 based on recent trading patterns.

Analyst Projections Despite Correction

Crypto analysts maintain bullish long-term projections for SUI despite the current correction. Chart analysis shows a breakout occurred in April around the $2.75 level.

This technical development marked the end of a prolonged downtrend and initiated a rally toward $3.50. Support has held firm at the breakout level, reinforcing the bullish market structure.

$SUI dipped a bit, but we all knows this is an underated ecosystem.

This will run hard higher in no time.

Not financial advice. pic.twitter.com/B0elCI1Toi

— Lucky (@LLuciano_BTC) June 4, 2025

Technical projections suggest the token could target $5.37 if momentum continues building. Analysts interpret the current movement as a natural correction following substantial gains in previous weeks.

Bulls must regain the $3.50 to $3.60 range for a recovery to begin. Several moving averages currently cluster in this zone, creating a key resistance area.

If SUI closes above $3.70, it may indicate buyers are regaining control. This development could open room for growth toward the $4.00 level.

$SUI Big Picture

I see $SUI printing this Humongous Rising Wedge 🧐

This dip is probably the last opportunity to add to your bags before $SUI makes a new ATH

🎯 Target: $8-10 pic.twitter.com/fBQyHXxwOX

— CryptoBullet (@CryptoBullet1) June 3, 2025

SUI may drop to $3.00 if it fails to hold the $3.10 support level. Continued weak market conditions could push the token toward the $2.90 area.

The token’s 24-hour trading volume reached $700 million despite the price decline. This substantial volume indicates continued institutional and retail interest in the asset.

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