The crypto market took another hit this week as the U.S. Securities and Exchange Commission (SEC) delayed its decision on Canary Capitalās proposed spot SUI ETF š¬. The postponement, now pushing the review date to July 24, 2025, has added fuel to the fire for investors already worried about Sui's declining price. š„
š SUI Price Drops Further
The price of SUI fell by 2.7% in the last 24 hours, landing around $3.18, a far cry from its January all-time high of $5.35. Thatās a 40% decline, showing clear signs that bearish pressure is dominating the charts. šš
š Technical Indicators Point to More Pain
SUI is now trading below both the 10-day and 20-day exponential moving averages, acting as resistance zones instead of support. The token is also hugging the lower Bollinger Band, hinting at more volatility ahead. šØ
The $3.10 support level is now a critical zone for SUI. If it breaks, we could see the token slide towards $2.90 or even lower. Bulls will need to reclaim the $3.50ā$3.60 area to signal any hope of a reversal. šš§
āļø SECās Conservative Stance Continues
This isnāt the first delay from the SEC. Other altcoin ETF applications ā including Solana (SOL), XRP, and Litecoin (LTC) ā are also stuck in regulatory limbo. The agency continues to express concerns around market manipulation and investor protection, slowing down crypto innovation in the U.S. šŗšøš°ļø
š® Long-Term Outlook Still Positive?
Despite short-term sell-offs, some analysts remain optimistic about Suiās long-term potential, pointing to its growing ecosystem and strong development team. But for now, the market sentiment is shaky, and traders are watching support levels closely. šš
---
TL;DR:
š SEC delays SUI ETF decision till July 24, 2025
š SUI price drops ~2.7%, now 40% below ATH
ā ļø Bearish indicators suggest further downside
ā³ Regulatory delays impact broader crypto sentiment
š Long-term bullish, short-term caution advised
#SUI #CryptoNews #ETFFiling #SECUpdate #CryptoMarket $SUI