Sui Rockets Toward $5 as Nasdaq Greenlights 21Shares SUI ETF Filing

Move over, Bitcoin—Wall Street’s latest crypto crush is Sui. The Layer 1 blockchain’s token surged as Nasdaq filed a 19b-4 form for 21Shares’ spot SUI ETF, fueling speculation of a $5 price target.

The Institutional Stamp of Approval

Regulatory paperwork rarely gets traders excited—unless it’s a backdoor ticket to the ETF gravy train. With this filing, Sui joins the elite club of altcoins flirting with mainstream finance legitimacy.

Pump or Purpose?

Market makers are already pricing in the ’halo effect’ from potential ETF inflows. Never mind that most institutions still can’t explain how Sui’s tech differs from Aptos—liquidity chases narratives, not whitepapers.

One thing’s certain: the SEC’s rubber stamp would send Sui’s valuation into uncharted territory. Whether that’s sustainable or just another case of ’buy the rumor, sell the news’ remains to be seen—but for now, the bulls are charging.

Sui Price Records A Strong Bullish Reversal!

With a jump of 5.16% in its trading volume to $12.21 billion, this altcoin has jumped over 5% in valuation during this period. Moreover, SUi’s recent allotment of $10 million toward enhanced security has created an optimistic environment for the altcoin in the crypto community. With this, its market cap has increased to $12.23 billion.

The Cross EMA 50-day acts as a major support to the SUI price chart in the daily time frame. On the other hand, the 200-day EMA shows a strong support around the $3 mark. This suggests a high possibility of a bullish reversal within a short period.

Adding to this, the Relative Strength Index (RSI) has successfully breached its neutral point and is headed toward its overbought range in the daily time frame. Moreover, with a high possibility of a bullish convergence, this altcoin may continue trading under a bullish momentum this week.

Will SUI Price Increase This Week?

Considering that the crypto market favors the bulls, in that case, the Sui coin price could retest its resistance of $3.8 soon. Furthermore, if the bullish sentiment intensifies, this could result in it heading toward its upper price target of $4.56 in the upcoming time.

Conversely, increased liquidation could pull the price of this altcoin toward its $3.5 mark. Moreover, a sustained bearish action may end up pulling this crypto token toward its important support zone of $3 during the coming days.

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