Sui (SUI) Price Set for Surge with Technical Indicators Pointing to $7.56 Target

Sui (SUI) appears poised for a significant price rally, with technical analysis projecting a potential 100% rise in the coming weeks. This optimism is being bolstered by recent positive developments, including Nasdaq’s filing for a SUI exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC). As of 28 May, SUI was trading at $3.63, and several indicators now suggest a retest of its all-time high (ATH) and potentially a new record of $7.56.

Reclaiming Gooner EMA Fuels Bullish Momentum

A key bullish signal for SUI is its successful reclaiming of the “Gooner EMA” — a proprietary indicator developed by crypto trader NebraskanGooner. This tool uses the 11- and 22-period exponential moving averages (EMA) to identify critical support and resistance zones.

SUI recently slipped below this EMA range, between $3.34 and $3.59, following a $200 million exploit involving Cetus, a decentralised exchange built on the Sui blockchain. However, as of late May, the token has regained this crucial support, reviving bullish sentiment.

NebraskanGooner commented,

“As long as it can hold Gooner EMA support, it can retest ATHs. Depending on market conditions — it even has a chance for a new ATH.”

SUI’s previous record high sits at approximately $5.36 — about 40% above current prices.

Technical Setup Signals $7.56 Target

The bullish outlook is further reinforced by SUI’s current ascending channel pattern and Fibonacci retracement levels. Analysts suggest that if momentum holds, the price could reach as high as $7.56 in the near future — marking a 108% rally from its present valuation.

This projection aligns with the broader bullish sentiment across the crypto market, especially for altcoins with strong fundamentals and community support.

Nasdaq Files for SUI ETF, Boosting Institutional Appeal

Adding further fuel to the rally, Nasdaq has filed for a SUI ETF with the SEC, indicating growing institutional interest in the Sui ecosystem. While regulatory approval is still pending and far from guaranteed, the mere filing has generated a wave of optimism among traders and investors.

In Europe, 21Shares has already launched a Sui-based exchange-traded product (ETP), which is listed on both Euronext Paris and Euronext Amsterdam. Since its debut in July 2023, SUI’s value has surged over 350%, demonstrating robust investor appetite.

Strong Inflows and Rising AUM Signal Investor Confidence

The increasing popularity of SUI-based investment products is evident in the growing assets under management (AUM). According to CoinShares’ 26 May report, the total AUM in SUI ETPs has reached $317.2 million.

Between 16 and 24 May alone, SUI investment products attracted inflows of $2.9 million — ranking just behind heavyweights like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP in terms of net asset flows.

These figures reflect rising confidence in Sui’s long-term potential, both from retail and institutional investors.

Outlook: Retest of ATH or More?

With the confluence of bullish technical signals and positive news flow — particularly the Nasdaq ETF application and strong capital inflows — SUI is well-positioned to retest its ATH and possibly climb beyond.

While crypto markets remain volatile and ETF approvals are never guaranteed, the current momentum suggests that SUI may continue its upward trajectory in the short to medium term. For investors, the key will be whether the token can sustain support above the Gooner EMA and navigate the broader market conditions successfully.