SUI price held near the $0.93 level on Feb. 18 as two U.S. spot staking exchange-traded funds began trading. The token changed hands at $0.9364, down 3.3% in 24 hours, while buyers continued defending the $0.90 area. The repeated defense of this zone has kept immediate downside contained despite short-term pressure.
Bearish Structure Persists, but Support Holds
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, giving bulls a chance to regroup.
Derivatives data shows mixed positioning. According to CoinGlass, futures volume rose 5% to $616.58 million, while open interest slipped 2.93% to $493 million. The shift suggests traders opened and closed short-term positions rather than building strong directional exposure.
Two ETF Structures: Real Staking Yield On-Chain
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. This structure gives investors direct exposure to both token performance and network yield.
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. Both products hold physical SUI rather than futures contracts.
Technicals: Bollinger Bands Tighten, RSI Divergence
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. The relative strength index recovered from oversold levels and now trades near 35, forming a mild bullish divergence.
SUI still trades below its 20-day moving average, and lower highs remain intact since rejection near $2.00. 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.