3 days ago
SUI SUI, the autochthonal token of the Sui blockchain, roseate somewhat implicit the past 24 hours earlier falling sharply aft macroeconomic factors deed planetary markets during U.S. day hours..
The token roseate pursuing quality that Nasdaq filed a 19b-4 form with the U.S. Securities and Exchange Commission (SEC) to database the 21Shares SUI exchange-traded fund. This marks the 2nd large measurement successful the ETF support process. The first, a draught S-1 registration statement, was filed by 21Shares successful April.
If approved, this would beryllium the archetypal spot SUI ETF listed successful the United States, offering accepted investors regulated entree to the autochthonal token of the Sui blockchain.
SUI appeared to respond to the development, showing spot overnight arsenic it broke done a absorption level astatine $3.49 with enactment from important trading volume, according to CoinDesk Research's method investigation model. More than 13 cardinal tokens changed hands during the breakout, which coincided with Nasdaq’s filing.
During U.S. day hours, SUI dropped sharply and is down astir 1% astatine property time. The CoinDesk 20, which tracks the broader crypto market, was up lone somewhat aft taking a deed successful the afternoon.
Technical investigation highlights
- SUI experienced a decisive breakout overnight supra the $3.49 absorption level with measurement exceeding 13 million, importantly supra the 24-hour mean of 8.7 million.
- Despite insignificant pullbacks, the token recovered accordant enactment astir $3.45-$3.46.
- A High-volume surge reinforced bullish sentiment, suggesting imaginable continuation of upward momentum.
- The $3.50 level has been established arsenic a imaginable cardinal absorption portion pursuing a impermanent exhaustion of bullish momentum.
- Price enactment formed a imaginable basal successful the $3.48-$3.48 scope with mean measurement supporting consolidation.
Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, spot CoinDesk’s afloat AI Policy.
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