ETFFiling

The crypto market took another hit this week as the U.S. Securities and Exchange Commission (SEC) delayed its decision on Canary Capital’s proposed spot SUI ETF 😬. 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. 🔥

📉 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. That’s a 40% decline, showing clear signs that bearish pressure is dominating the charts. 📊😟

📊 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. 🚨

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 $3.50–$3.60 area to signal any hope of a reversal. 📈🧐

⚖️ SEC’s Conservative Stance Continues

This isn’t the first delay from the SEC. Other altcoin ETF applications — including Solana (SOL), XRP, and Litecoin (LTC) — 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. 🇺🇸🕰️

🔮 Long-Term Outlook Still Positive?

Despite short-term sell-offs, some analysts remain optimistic about Sui’s 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. 📉👀

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TL;DR:

🛑 SEC delays SUI ETF decision till July 24, 2025

📉 SUI price drops ~2.7%, now 40% below ATH

⚠️ Bearish indicators suggest further downside

⏳ Regulatory delays impact broader crypto sentiment

🔭 Long-term bullish, short-term caution advised #SUI #CryptoNews #ETFFiling #SECUpdate #CryptoMarket $SUI