Date: Fri, March 07, 2025 | 07:14 AM GMT
In the cryptocurrency market with in the past 24 hours, Sui (SUI) the prominent Layer-1 blockchain token, is making headlines with a series of bullish catalysts. Following yesterday’s partnership announcement with World Liberty Financial , a Donald J. Trump-inspired DeFi protocol, SUI has once again grabbed investor attention as fresh ETF-related developments surface today.
Despite the broader market downturn, SUI remains resilient, trading in green as excitement builds around its future prospects.
Source: Coinmarketcap
Canary Capital Registers a SUI ETF
In a major development, Canary Capital has registered a Sui-based Exchange-Traded Fund (ETF) by filing a trust in Delaware today. This marks the first official step toward an SEC filing for a U.S.-based SUI ETF, a move that could significantly boost institutional demand.
Source: @angelodotsui (X)
Sources indicate that this Delaware registration is a precursor to submitting an S-1 registration statement, the first step required in the two-stage process for launching a crypto ETF in the United States. If the SEC filing goes through, Canary Capital would become the first asset manager to propose a Sui ETF, potentially opening the door for large-scale adoption and investment in SUI.
Is a Breakout Ahead?
From a technical perspective, SUI is at a crucial inflection point. Following the major announcements, SUI surged to $2.80, inching closer to the upper resistance of its falling wedge pattern, a structure that historically signals potential bullish breakouts.
The price is also testing the 200-day moving average (200MA), a key level that often determines long-term trend reversals. If bullish momentum continues and SUI manages to break above the falling wedge resistance with a retest, it could lead to a strong rally. The next key resistance levels are at $3.48 and $3.78, aligning with the 50-day moving average (50MA). This could result in a 28% upside from current levels.
However, if the breakout attempt fails, SUI may retest lower support levels before making another move to the upside.
Final Thoughts
With both the ETF narrative gaining traction and the strategic partnership with World Liberty Financial, SUI is positioned for significant growth in the coming weeks. The ETF filing by Canary Capital could open doors for institutional investment, while the WLFI partnership strengthens SUI’s presence in the DeFi ecosystem. If both catalysts align with a technical breakout, SUI could see a major rally, further solidifying its standing in the blockchain space.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
