Sui Holds $0.93 Support as Grayscale and Canary ETFs Launch
Key Insights:
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Sui defends the $0.90 support zone as two U.S. spot staking ETFs begin trading with direct on-chain yield exposure.
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Grayscale and Canary ETFs stake 100% or partial SUI holdings, reflecting rewards directly into net asset value for investors.
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A sustained move above $1.20 would break the lower-high structure and signal potential recovery toward the $1.45 zone.
Sui price held near the $0.93 level as two U.S. spot staking exchange-traded funds began trading on Feb. 18. The token changed hands at $0.9364, down 3.3% in 24 hours, while buyers continued defending the $0.90 area. Besides short-term pressure, the repeated defense of this zone has kept immediate downside contained.
The broader structure remains weak despite recent stabilization. Sui has fallen 40% over the past month and nearly 70% over the past year, with each rebound stalling below prior highs. However, the ability to hold above $0.90 has slowed the pace of decline.
Derivatives Show Short-Term Activity
Futures data reflects mixed positioning across the market. According to CoinGlass, futures volume rose 5% to $616.58 million, while open interest slipped 2.93% to $493 million. Consequently, the shift suggests traders opened and closed short-term positions rather than building strong directional exposure.
Canary Capital Group launched the Canary Staked SUI ETF under the ticker SUIS on Nasdaq. The fund holds spot SUI tokens and stakes part or all of its assets on-chain, with staking rewards reflected in net asset value. Additionally, the structure gives investors direct exposure to token performance and network yield.
Grayscale Expands Sui Exposure
On the same day, Grayscale Investments introduced the Grayscale Sui Staking ETF on NYSE Arca. The fund charges a 0.35% annual sponsor fee, waived for three months or until assets reach $1 billion, and initially staked 100% of its holdings. Moreover, both products hold physical SUI rather than futures contracts.
Source: TradingView
On the daily chart, $0.93 to $0.90 continues to act as a key support band. Bollinger Bands have tightened, signaling volatility compression that often precedes stronger moves. Significantly, the relative strength index recovered from oversold levels and now trades in the mid-30s, forming a mild bullish divergence.
Sui still trades below its 20-day moving average, and lower highs remain intact since rejection near $2.00. Hence, a move above $1.05 to $1.10 would mark early structural improvement. The decisive level stands between $1.15 and $1.20, where a daily close could open room toward $1.45 to $1.60.
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