SUI is gaining traction as technical patterns, ETF developments, and ecosystem growth align. A bullish wedge is forming on the weekly chart, suggesting a breakout could push the token toward the $10 mark.

Bullish Wedge Structure Reinforces Uptrend

Currently trading around $3.05, SUI has rebounded from key wedge support. Analysts point to a rising wedge structure with Fibonacci extensions near $8 and $10. The price must stay above $3.00 on weekly closes to confirm this trajectory, while the $4.12 level remains critical for a breakout.

The pattern mirrors earlier upward legs, with symmetrical moves projecting toward the $10 zone. Momentum remains neutral, but structural strength supports further growth if resistance is breached.

ETF Filing Signals Institutional Confidence

The U.S. SEC has acknowledged the 21Shares filing for a spot SUI ETF. Though not yet approved, this marks a milestone in institutional recognition of SUI as a regulated asset class. ETF access could drive broader adoption by easing exposure for traditional investors.

Analysts highlight that ETF approval typically increases liquidity and encourages long-term inflows. The trend seen with Bitcoin and Ethereum ETFs may now extend to SUI, boosting its credibility and price momentum.

Ecosystem Expansion Builds Long-Term Case

Macro analysts note that SUI’s recent retracement is part of a healthy uptrend. Growth in DeFi participation, ecosystem funding, and user incentives suggests deepening utility. Key support at $3.20 continues to hold, while RSI cools—allowing space for a renewed rally.

Volume has contracted, forming a tight base just below the $4.12 resistance. Should this level break, the path to $7.00-$8.00 is relatively unobstructed. A clean technical zone above current prices could fuel swift movement in the coming days.

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