Sui Drops 3.802% Amid ETF Filing and Bullish Momentum

Sui's latest price was $3.42, down 3.802% in the last 24 hours. Sui, a Layer-1 blockchain, has been making significant strides in the cryptocurrency market. The crypto asset manager Canary Capital has filed for a SUI ETF, reflecting the growing interest and belief in the project. This filing is subject to approval from the U.S. Securities and Exchange Commission (SEC).

Sui has emerged as one of the most resilient and promising Layer-1 blockchains in the current market cycle. A Layer-1 blockchain refers to the foundational network infrastructure of a blockchain ecosystem, hosting smart contracts and decentralized applications (dApps). Sui is positioning itself as a serious contender in the competitive Layer-1 space, showing strength even as other altcoins remain trapped in consolidation. Its relative strength against Bitcoin, a key indicator of altcoin momentum, has not gone unnoticed. Analysts like Kaleo have noted that Sui is displaying a solid performance versus BTC and appears ready to reclaim the $4 level, a major resistance area that has capped the upside for weeks. A clean break above $4 could trigger a broader rally, especially if market conditions remain favorable for altcoins.

Despite the bullish signals, risks remain high. Some analysts warn that the market could face another retrace as global tensions and uncertain liquidity conditions continue to shape sentiment. In such an environment, investors are watching closely to see if Sui can defy the trend. Its recent strength suggests it could outperform other Layer-1s during the next phase of the market, especially if capital rotates back into high-potential altcoins. With bullish structure intact and volume beginning to build, Sui could be one of the first major altcoins to lead the charge if the breakout above $4 confirms.

Sui is currently trading at a pivotal level after confirming a bullish structure on the short-term chart. Following a strong recovery from its local lows in early April, the Layer-1 token has steadily climbed, showing clear signs of renewed investor interest. However, while the uptrend remains intact, the $4 resistance zone stands as the next major obstacle that bulls must overcome to confirm a decisive breakout. Market sentiment has been shifting as altcoins regain strength alongside Bitcoin’s consolidation. In this context, Sui has emerged as one of the stronger performers. Still, the challenge lies in clearing the $4 level with volume, which could unlock further upside potential and open the path toward price discovery.

Top analyst Kaleo shared an insightful analysis, noting that Sui is gaining momentum and looks poised to reclaim the $4 mark soon. According to Kaleo, this level could act as the launchpad for the next leg higher, provided bulls maintain pressure and volume supports the move. With macro uncertainty still clouding the broader market, Sui’s upcoming price action could serve as a barometer for altcoin strength in the near term. Sui is currently trading above the 200-day moving average (MA), which sits around the $3.25 level. This key technical support has acted as a strong foundation during recent volatility, signaling that bulls still maintain control of the short-term structure. As long as Sui stays above this zone, the possibility of continuation remains intact.

The next major hurdle lies at the $4 mark—a psychological and technical resistance level that has rejected price advances several times in recent weeks. A decisive breakout above $4, followed by a close above the $4.20 area, would confirm a bullish setup and could trigger further upside momentum toward new highs. However, caution is warranted. If Sui fails to reclaim $4 and slips below the $3.20 level, it may test deeper support near the $2.80 zone. Losing this range could shift sentiment and open the door to a broader correction, especially if weakness returns to the overall altcoin market. For now, bulls are in a position of strength, but confirmation requires sustained buying pressure and a clean breakout above overhead resistance. The coming sessions will be key in determining whether Sui can lead the next altcoin rally.

Recently, Sui has been gaining traction in the crypto community due to a series of strategic developments aimed at enhancing its ecosystem. One of the most notable announcements was the launch of a Web3 gaming stablecoin exclusively on Sui. This new stablecoin, named Game Dollars, is expected to significantly expand Sui's presence in the gaming industry by providing a tailored currency solution for gaming transactions within its ecosystem. This development indicates Sui's focus on increasing its utility and growing its user base, positioning itself as a key player in the Web3 gaming sector.

In addition, Sui is advancing its DeFi capabilities with the integration of $sBTC from the Stacks ecosystem. This integration brings a substantial amount of Bitcoin liquidity, approximately $1.9 trillion, into the Sui DeFi ecosystem, allowing users to leverage Bitcoin within Sui's decentralized finance offerings. The entry of Bitcoin liquidity marks a major milestone for Sui, enhancing its capacity to offer sophisticated financial services and attracting more users seeking diversified DeFi solutions.

Furthermore, Sui Basecamp 2025 featured discussions by Adeniyi Abiodun, who highlighted the platform's efforts on decentralization, scaling, and protocol enhancements. This event underscored Sui's commitment to continuous improvement and innovation within its ecosystem, fostering new partnerships and advancing its technological infrastructure to ensure robust and scalable solutions. The focus on decentralization and scaling indicates Sui's strategic direction towards creating a more resilient and efficient blockchain network.

Overall, these developments reflect Sui's proactive approach in expanding its operational capabilities and driving user engagement. As it continues to introduce innovative solutions, Sui is positioning itself as a versatile and dynamic player in the cryptocurrency landscape, appealing to both individual and institutional participants seeking cutting-edge technology and enhanced financial opportunities in the blockchain realm.