Sui (SUI) dey look say e go recover: Technical bounce, TVL don too much, and ETF wey delay don shape market outlook

Sui (SUI) don see challenges and sign of recovery for di past few weeks. Di token lose over 14% because of wahala around di possibility of launching one spot SUI ETF, as US SEC delay dem decision on top di Canary Capital proposal, wey ginger more regulatory palava. Market feeling come spoil more because of one $223 million hack wey happen for Cetus Protocol, one main Sui DeFi project, wey make people ask question about decentralization after validators freeze di hacker wallets. Even with all dis wahala, SUI fundamentals don show strong: DeFiLlama report say total value locked (TVL) for Sui increase by 4.8% for di last week to $3.05 billion—wey be over 50% increase since April—as activity for bitcoin-pegged assets and stablecoin liquidity dey grow. Technical analysis show say SUI don break out from one falling wedge wey don dey for many weeks and form one golden cross, wey normally be bullish signal wey don lead to 380% rally before. SUI funding rate don remain positive for nine days straight, wey show say investors confidence dey grow. Immediate resistance dey for $4.31, with more potential to go up to $5.92 Fibonacci extension if di bullish momentum continue. But, small small gains fit no last unless RSI pass 50 and buying pressure strong. Generally, Sui dey show big big bullish momentum, but traders suppose watch out for extra confirmation to make sure di rally go last.