Crypto analyst Ali Martinez noted on X that if SUI holds above the channel support at $2.26, a move toward the $2.50 resistance trendline could follow.
He stated his view clearly on the social platform, sharing his technical analysis with fellow traders. His comment adds to a lively debate on the token’s future direction among market participants.
SUI’s Price Movements
Market sentiment remains mixed as traders discuss whether SUI will continue its upward trend or face another dip. The token traded at $2.27, showing a decline of 1.26% over the last 24 hours.
Liquidity inflows and key technical levels will likely shape the next move for SUI. Last week, SUI fell by more than 3%, which signals the market challenges faced by the token. These movements cause uncertainty among investors who monitor market trends closely.
Also Read: Sui Network Sees 24 Hrs Volume Surge Past Rivals, Hits $1.35B In Trading Volume
Historic Milestones and Recent Highs
A few days ago, the Sui network achieved a historic milestone by pushing the total market capitalization of stablecoins on its blockchain above $500 million. This milestone highlights the network’s growing adoption in the DeFi space.Â
In addition, last year, Sui Network reached a new all-time high of $3.283 for its token price, which helped push its market cap past $9 billion. These achievements show that the network has experienced significant growth and progress over time.
Concerns Over Trading Volume and Market Stability
Despite the positive news, many traders expressed significant concerns about the decline in trading volume. A drop in trading volume raises worries about market stability and potential liquidity issues.
Some traders fear that reduced volume may affect the token’s ability to sustain a rising trend. The concerns have led to caution among investors who are now carefully monitoring the market. The mixed signals from technical levels and volume trends have fueled an ongoing debate on SUI’s future.
Institutional Moves and ETF Developments
In another development, the Sui Network announced that CanaryFunds has filed for the first-ever SUI ETF. This filing aims to bring SUI closer to public markets and grant direct exposure to interested investors.
The filing comes amid growing institutional interest, which is backed by over $70 billion in DEX volume and more than 67 million accounts.
The ETF move offers a new avenue for conservative investors who seek regulated exposure to digital assets. This step could lead to increased liquidity and market participation, further strengthening SUI’s market narrative.
Regulatory and Future Outlook
The token faces mixed signals from both technical analysis and trading volume trends, yet the ETF filing shows clear institutional progress. SUI is now caught between a challenging market environment and promising regulatory developments that could enhance its liquidity.
The ongoing discussion among traders reflects the cautious optimism that many hold for the token’s future. Investors are watching closely as technical levels and market data continue to influence the token’s price.
Also Read: Sui Network Resumes Operations After Two Hours Of Outage; SUI Price Tumbles 0.7% Meanwhile