Sui ($SUI) Surges 18.2% to $3.96 on Institutional Interest and ETF Filing

The price of Sui ($SUI) has surged by 18.2% in the past 24 hours, reaching $3.96 as of July 14. This significant increase has brought the market capitalization to $13.68 billion. Analysts are now projecting a potential 2x–3x upside, with the price potentially reaching $8–$10 during this cycle. This optimism is driven by growing institutional interest and the expansion of the Sui ecosystem.

One of the key developments contributing to this positive sentiment is the filing of a 19b-4 application by Nasdaq to list a spot SUI ETF in partnership with 21Shares. This move places Sui among a select group of alternative digital currencies being considered for such financial products. Although the SEC has yet to approve the filing, it has already boosted market sentiment and increased the visibility of the Sui project.

In addition to institutional milestones, Sui has implemented important technical upgrades in March 2025. These upgrades include the integration of WebAuthn-based passkeys and zkLogin, which streamline user authentication by allowing users to access blockchain applications using familiar web login methods. This enhancement aims to make blockchain technology more accessible to mainstream users while maintaining robust security standards.

The Sui network has also achieved a new peak in Total Value Locked (TVL) at $2.201 billion, indicating growing ecosystem activity. Several strategic partnerships have further strengthened Sui’s position in the market. For instance, the partnership with Threshold brought tBTC, a decentralized Bitcoin derivative, to Sui’s ecosystem, unlocking more than $500 million in Bitcoin liquidity. Additionally, the collaboration with BTCfi created a solution that combines Bitcoin’s liquidity with Sui’s efficient infrastructure.

Despite the bullish momentum, there are signs of potential exhaustion. The Relative Strength Index (RSI) is currently above 82, indicating overbought conditions. The MACD histogram also shows weakening momentum, with the MACD line curling downward and edging closer to a bearish crossover. These technical indicators suggest a possible cooling-off phase, which could lead to consolidation or a moderate pullback, especially as traders may look to secure profits near the $4.00 resistance level.

However, derivatives markets suggest that traders remain overwhelmingly bullish. According to Coinglass derivatives data, 24-hour volume rose significantly, and open interest climbed, indicating massive inflows of speculative capital. The long/short ratio on Binance stands at 1.2056, while the top trader long/short ratio hits 2.2626, showing that whales and top accounts remain heavily long-biased.

A measured pullback toward the $3.60–$3.70 support zone would represent the healthiest possible outcome for bulls. Such a retreat would maintain the integrity of the bullish structure while shaking out weaker hands and allowing for fresh accumulation before the next potential leg up. The key detail to watch for after this is the renewed buying volume when testing this zone, which, if positive, could set the stage for another move toward the $4.50–$5.50 resistance band.

Conversely, confirmation of a bearish MACD crossover or the emergence of negative RSI divergence could indicate a more substantial correction, potentially leading to an extended cooldown period. Despite these potential challenges, the overall sentiment remains bullish, with analysts and traders alike optimistic about Sui’s future prospects.