SUI Price Movement Revealed: 21Shares submits application for SUI ETF
Delve into the most recent SUI Technical Analysis, featuring price movements. Engage in a thorough chart examination to identify crucial levels and market dynamics.
SUI DeFi activity is on the rise, alongside the expansion of its project base and community. This is a positive indicator for the ongoing vitality of the blockchain and its significant future prospects.
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We have just been informed that 21Shares has submitted an application for an SUI ETF, an additional encouraging sign for early investors.
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SUI Price Action: Insights from Technical Analysis in May 2025
(SUIUSD)
Let’s initiate today’s analysis by examining the 1D chart, focusing specifically on the crypto market trajectory. There are three distinct phases (marked in red) where the SUI price experienced declines or pullbacks.
During each of these three phases, the RSI fell below the median threshold. Every breakout above this RSI level coincided with a Crypto market Structure Break on the price chart, followed by a retest of that 46 line.
It’s more accurate to refer to it as a zone rather than a precise line. A pronounced bullish commenced from the low in October 2023, characterized by ascending peaks and troughs.
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(SUIUSD)
Again, on the 1D chart, several key levels to monitor include the Yearly Open, Yearly High, and Monthly Low, as well as MA200, which is presently serving as price floor.
The chart indicates that when the price surpassed MA200 in both prior instances, it reached a new ATH. The SUI price might revisit the Monthly Low or perhaps another MA, but it could also continue to rise from this point.
(SUIUSD)
In the 4H timeframe, the current range confining SUI is visible. The RSI has reset. Next, we would like to see the MAs successfully reclaimed in this timeframe. This would secure the onset of the upcoming breakout – so keep a close watch for this.
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SUI Price Action Revealed: 21Shares submits for SUI ETF
- SUI Price exhibits a uptrend structure since 2023
- RSI appears poised for the next upward move
- A potential rise to a new ATH is anticipated next
- Requires reclaiming MA200 on 4H
The article SUI Price Action Revealed: 21Shares submits for SUI ETF first appeared on 99Bitcoins.
