- SUI has received SEC approval for the first-ever 2x leveraged ETF (TXXS), bringing regulated exposure to public markets.
- Historical chart patterns indicate a breakout after hitting strong support zones, suggesting a sustained uptrend.
- Technical setups point to higher lows and breakout structures, with a potential price target between $3.50 and $4.
Sui (SUI) is moving in a bearish-to-bullish trajectory, with the token eyeing an increment in its value with the changing market conditions. The token is currently trading at $1.62, which has surged by 5.35% over the last 24 hours.
However, the data from Sui shows that the SEC has approved the first-ever 2x leveraged SUI ETF (TXXS), set to trade on Nasdaq via @21Shares_US. This marks a historic milestone for Sui, bringing regulated, amplified exposure to the cryptocurrency into public markets. Investors can now access double the daily returns of SUI in a fully compliant trading environment.
The launch of TXXS opens a new chapter for Sui investing, bridging the gap between crypto enthusiasts and traditional market participants. Analysts predict it could attract institutional interest and boost liquidity for the SUI ecosystem. With this development, mainstream, regulated Sui investment has officially arrived.
Also Read: Sui (SUI) December Forecast: Can SUI Extend Gains Toward $2.20?
SUI Price Rebounds as Bulls Target $1.79 Resistance
Moreover, the crypto analyst BitGuru revealed that SUI appears to be gaining momentum again as it bounced strongly out of a strong demand zone, indicating a rekindling of buying interest. This strong bounce has resulted in a new uptrend with a series of higher lows being created. This indicates that buying support is being restored after a brief pause.
Source: BitGuru
SUI looks poised for a continued move towards a major level of resistance at $1.79 based on current momentum. A continued push in this direction would be a great help towards sustaining this trend. Traders are waiting to see whether SUI continues with this formation when the token resumes in order to facilitate a continued move upwards.
SUI Chart Patterns Signal Bullish Reversal to $4
Moreover, the crypto analyst, Lucky, highlighted that the chart indicates that SUI keeps trending within a downward channel, steadily plunges to a strong level of demand, only to break out powerfully. Every cycle indicates a level where sellers are exhausted, and a strong bullish breakout occurs, thus showing that any time this level is reached, strong buying interest ensues.
Source: Lucky
The latest surge follows a similar pattern to previous break points. SUI has once again hit the key zone of demand and broken out powerfully from the downward trend channel. This particular technical configuration would indicate a likely price target of around $3.50-$4.00 based on previous break points. This would align well with the expected direction of the uptrend.
Also Read: SUI Momentum Builds: Grayscale ETF Filing Signals $10 Breakout Potential
