SUI Targets $1.85 Rebound as BITW ETF Ignites Market Optimism
Move over, bears—SUI's chart is printing green again. The Layer 1 contender is staging a comeback, with its sights locked on a critical resistance level at $1.85. The catalyst? A fresh wave of institutional confidence, courtesy of the BITW ETF's latest performance.
The ETF Effect: More Than Just Hype
It's not just speculative chatter. The approval and subsequent inflows into the Bitwise Crypto Industry Innovators ETF (BITW) are acting as a rising tide for select altcoins. The fund's composition, a basket of crypto-native companies and protocols, signals a maturing market where infrastructure plays like SUI get a second look from big money. Suddenly, narratives around scalable smart contract platforms aren't just for Telegram groups.
Technical Footing: The Path to $1.85
The road to recovery is being paved on the charts. Key moving averages are beginning to flatten, and volume profiles suggest accumulation is underway. The $1.85 target isn't arbitrary—it represents a major technical confluence zone that, if breached, could open the door to significantly higher valuations. Traders are watching for a decisive close above that level to confirm the trend reversal is more than a dead-cat bounce.
Market Sentiment: A Shift in the Wind
Fear is receding, replaced by a cautious, calculated greed. The 'crypto winter' narrative is getting stale, and products like the BITW ETF provide a sanctioned, familiar wrapper for traditional finance to dip its toes back in. It's the old Wall Street playbook: find a regulated proxy for the volatile asset class, then let the FOMO do the rest. For SUI, this translates to a stronger fundamental thesis beyond its technology—it's now part of a broader institutional portfolio story.
The bottom line? SUI's rebound attempt has a powerful new ally in the BITW ETF. While past performance is the favorite disclaimer of every finance brochure, the current setup suggests this move has more behind it than just hope. Reaching $1.85 would send a clear message: the altcoin revival is officially on. Just remember, in crypto, today's institutional validation is often tomorrow's profit-taking opportunity.
Technical Outlook Suggests Weakening Bearish Strength
The above chart reveals that since the peak of $4.50+ in late 2024, the market has been trending continuously lower, forming lower highs and lower lows. More recently, it appears that the market is resisting the lower lows, ranging around the support level of $1.50-$1.60, with a slight recovery to $1.65, suggesting possible stabilization, though the trend is not yet fully reversed.
Source: TradingView
The RSI stands at 36.87, showing oversold levels but emerging signs of a recovery. However, the MACD is still bearish, with the MACD line at -0.45716 below the signal line at -0.27772, although the presence of smaller red bars on the histogram suggests that the pressure of selling is easing. Furthermore, SUI is presently on a slight recovery path from the lower levels but still combating bearish momentum.
SUI Could Surge to $1.85 if $1.45 Holds Strong
Moreover, the crypto analyst, Hailey LUNC, highlighted that SUI is also indicating a bullish turnaround because the downtrend line has been breached, and higher highs are being established. The critical resistance areas, which acted as obstacles for the price, have been regained, indicating that the buyers have started participating actively again. This is a classic indication of a bullish turnaround.
Source: Hailey LUNC
If SUI is able to maintain support above the critical level of $1.45, the next logical level that it should target will be $1.85. Traders will certainly keep their eyes on the critical level, hoping that it will trigger a breakout that will unleash the next level of price movement. If so, it appears that SUI is on the verge of starting a new long-term uptrend.
Also Read: SUI Momentum Builds: Grayscale ETF Filing Signals $10 Breakout Potential
