SUI price update: The digital asset SUI is currently trading at $3.51, reflecting a marginal 0.17% decline despite a sharp increase in its 24-hour trading volume

By: Updatem

The digital asset SUI is currently trading at $3.51, reflecting a marginal 0.17% decline despite a sharp increase in its 24-hour trading volume, now at $1.74 billion, up 27.10%. Over the past seven days, the coin has gained 5.44%, highlighting its resilience within a consolidating yet bullish market structure.

SUI’s strong market momentum and price action near $3.55 align with key resistance levels between $3.56 and $3.73. However, technical indicators suggest caution. The Relative Strength Index (RSI) stands at an overheated 92.81, indicating the asset is overbought.

The Moving Average Convergence Divergence (MACD) remains positive, and the Average Directional Index (ADX) at 45.1 confirms the strength of the ongoing trend. The narrow Bollinger Band width (2.35%) signals a potential breakout either upward or downward.

Traders are advised to maintain tight stop-loss strategies and consider partial profit-taking. Conservative investors may benefit from waiting for a pullback to the $3.43 support zone before initiating new long positions.

SUI ETF offers price exposure without ownership

In a development that bodes well for long-term sentiment, asset management firm 21Shares has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) for a proposed SUI exchange-traded fund (ETF). Notably, this ETF will not engage in staking, setting it apart from conventional crypto ETFs.

Custodianship will be handled by Coinbase, although the trading venue and ticker symbol remain undisclosed. This filing follows a similar move by Canary Capital in March 2025, making 21Shares the second major institutional player targeting SUI-based investment products. The ETF aims to offer direct price exposure without requiring investors to own or manage the underlying asset. This move is being viewed by the market as a strong vote of confidence in the coin’s future role within institutional portfolios.

SUI trading volume Hits $1.61 Billion in 24 hours

As part of this filing, 21Shares also announced a strategic partnership with Sui Network with a view to driving global adoption. The partnership will focus on areas such as research, product development, and ecosystem development. Duncan Moir, President at 21Shares, highlighted SUI’s scalability, throughput capacity, real-world asset tokenization potential, and suitability for DeFi use cases.

In response, the market reacted briskly. It jumped to $3.67, a 7.61% rise in the last 24 hours, along with a concurrent gain in trading volume by 16.03% to $1.61 billion. Changelly experts see a promising future, and May 2025 price expectations are pointing towards potential highs of $11.77 and ROI of almost 955.9%.