SUI Token Surges 14% as Institutional Interest Sparks Major Breakout

Sui's native token (SUI) surged 14% to $4.26, breaking through key resistance levels with trading volume exploding 146% to $2.25 billion. This MOVE marks a decisive end to weeks of consolidation, driven by technical breakout patterns and positive regulatory developments.

Market participants are closely monitoring the SEC's acknowledgment of 21Shares' sui ETF filing, which could pave the way for significant institutional capital inflows. Technical charts reveal a textbook cup-and-handle formation, with analysts projecting a long-term target of $10 if the current momentum continues.

Liquidity clusters NEAR $4.40-$4.60 may trigger cascading buy orders as short positions face potential squeezes. The RSI at 61.3 indicates room for further upside before reaching overbought conditions, while the volume spike confirms participation from both retail and institutional investors.