Sui (SUI) is showing notable momentum on the 4-hour chart as of Sunday, February 22. According to the crypto analyst, Satoshi Flipper, traders are noticing increased activity on the SUI launchpad, signaling growing investor interest.
Technical indicators suggest a potential breakout, with the $1.16 level emerging as a critical resistance point. A move above this level could trigger further bullish momentum.
Source: Satoshi Flipper X Post
Traders are monitoring volumes and price action to see if the token sustains its trend or faces short-term consolidation. With the launchpad active and attracting fresh liquidity, optimism around the token is rising.
Satoshi Flipper notes that continued momentum could make the token a standout in the market, appealing to both short-term traders and long-term investors.
Also Read: SUI Price Gains 3.3% as Accumulation Signals $1.00 Breakout
Momentum Indicators Point to Downward Pressure
According to TradingView, on Sunday, February 22, the asset’s price has declined from a high of slightly above $1.04 to its current price of around $0.918.
There have been small movements in the price, as it rose slightly around the $0.91 mark before declining again. This, coupled with the alternating red and green candlesticks, reflects the selling pressure in the market and the dominance of the bearish trend in the market.
Source: TradingView
Technical indicators also support the above analysis of a bearish market. RSI is at 36.59, which is below the neutral position. This confirms the market is close to an oversold position and may fall further.
The MACD shows the blue line is moving below the orange line, which is the signal line, with a slightly negative histogram.
VanEck Bridges SUI Blockchain to Traditional Finance
Apart from this price movement, VanEck Europe launched a regulated Sui ETN with ticker symbol VESU on the Deutsche Börse Xetra exchange on Friday, February 20. This provides regulated and exchange-traded access to the SUI token for investors in Europe.
This fully collateralized and regulated solution under EU MiCA regulation enables both retail and institutional investors to access the network’s high-performance Layer 1 blockchain without the need for self-custody or unregulated exchanges.
This listing represents a significant move towards the integration of new blockchain systems into the traditional market space.
It is believed that this will not only improve the liquidity of the market, but the involvement of traditional institutions will also improve the adoption of the ecosystem.
Experts believe that this represents a growing trend towards the integration of digital assets into traditional finance, reflecting the increasing appetite for crypto investment products across Europe.
Also Read: SUI Rockets to $0.96 as U.S. Spot ETFs Target $1.03 Breakout