SUI (SUI) Price Surge

SUI (SUI) rebounded forcefully on Thursday, increasing from $3.52 to $3.78 within just five hours after a previous 8% slump during the U.S. night.

The token had declined from $3.82 starting around 11 p.m. ET before reaching a low of $3.00 at 3 a.m. ET. During this time, trading volume surged to 35.4 million, well over double its average turnover, indicating strong buying interest.

This bounce brought the token close to its previous high, suggesting that large market participants were accumulating it during dips, despite the current choppy price action.

This price recovery follows recent regulatory developments. On Wednesday, the U.S. Securities and Exchange Commission moved Canary Capital’s spot SUI exchange-traded fund proposal to the “institution of proceedings” phase. Additionally, 21Shares submitted paperwork for its own SUI ETF product the same day.

These steps suggest a tentative movement towards mainstream acceptance of the token, potentially broadening access to regulated investors.

Traders should monitor whether this recent price action develops into a sustained trend. The $3.82 level now appears to be a resistance, as per CoinDesk Research’s technical analysis model. Early sellers have emerged, and the token remains in a wider consolidation range.

As of now, SUI was down 0.42% in the past 24 hours, while the broader market, reflected by the CoinDesk 20 Index, is down approximately 1%.

Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team for accuracy and adherence to standards. For more information, see CoinDesk’s full AI Policy.