Despite recent setbacks following the Cetus Protocol exploit, Sui’s (SUI) price shows signs of a potential bullish breakout. The token continues to struggle compared to other top cryptocurrencies but technical indicators suggest a strong possibility for an uptrend in the coming days. 3.50 on Wednesday, while its value remains significantly lower than most competitors. 21Shares and Canary are applying for spot Sui ETFs, with the SEC expected to approve most of these applications by year-end. 21Shares and Canary are seeking approvals for spot Sui ETFs. This could unlock further institutional investment in the asset. The foundation has provided a loan to Cetus Protocol to help cover the recent $223 million hack. The loan covers funds that were moved from Cetus to Ethereum (ETH) addresses. Cetus is now requesting community voting on whether to release $162 million in frozen assets. A potential resurgence in the Sui price may be catalyzed by an increase in interest for exchange-traded funds (ETFs), as both 21Shares and Canary have applied for a spot Sui ETF. DeFi Llama data reveals that Total Value Locked (TVL) on the Sui network is recovering after last week’s sharp decline. It stands at 693 million SUI, up from a low of 584 million. Notably, TVL in dollar terms has risen to $2.47 billion, and stablecoin market cap remains stable at $1.02 billion. Technical analysis of the Sui price chart reveals a bullish flag pattern. This pattern suggests a potential bounce with an initial target of $4.2648. A breakout above that level could signal further upward momentum, potentially leading to a surge toward the all-time high of $5.3735 – representing a 50% gain from current prices.