- Mysten Labs met with the SEC Crypto Task Force to discuss crypto regulation
- This meeting comes ahead of an October privacy hearing.
- SUI trades at $3.52, consolidating after breaking out of a falling channel.
On Tuesday, Mysten Labs, the team behind the Sui blockchain, met with the US Securities and Exchange Commission’s (SEC) Crypto Task Force.
The discussion focused on the regulation of crypto assets, weeks before the SEC’s high-profile financial privacy and surveillance hearing set for October 17.
Sui Network Ecosystem Gains Traction
ETF Store President Nate Geraci shared the meeting details, describing Mysten Labs as “a leading multi-blockchain technology company focused on building secure, scalable infrastructure for decentralized applications.”
Its flagship project, the Sui Network, boasts high performance, low latency, and advanced security while the $12.6 billion worth SUI token has already printed more than 8% in gains in the past week, as per CoinMarketCap data.
SEC’s Push on Privacy and Surveillance
The SEC’s upcoming Crypto Task Force hearing on October 17 will focus on the delicate balance between privacy and oversight.
Commissioner Hester M. Peirce emphasized the importance of privacy tools, stating that such technologies allow individuals to “choose when and with whom to share sensitive data.”
Meanwhile, the SEC has also intensified its crackdown on fraud, launching a Cross-Border Task Force aimed at combatting market manipulation by overseas actors.
Related: Institutions, DeFi, and a $450M Corporate Treasury Bet: Sui Bull Case Keeps Building
SUI Price Analysis: Bulls Eye Higher Targets
At the time of writing, SUI trades at $3.52, down 1.67% over the past 24 hours. The token recently broke out of a falling channel and is now consolidating within a rising channel.
If SUI sustains momentum above the $3.48–$3.58 resistance zone (aligned with Bollinger Band midline), buyers could push toward $3.80, with a breakout opening the door to $4.20 and even $4.60 as medium-term targets.
The RSI at 56.88 supports this momentum, showing room before reaching overbought territory.
Downside Levels to Watch
Failure to hold above $3.48 could drive a retest of $3.37, with further risk toward $3.20 if selling pressure intensifies. The MACD’s neutral stance points to a fragile balance between bulls and bears.
Related: SUI Targets $7 as Market Awaits Breakout Above Key Levels
For now, traders are watching the $3.58 resistance as the key battleground. A decisive breakout would confirm that SUI is gearing up for a larger rally, while rejection at this level could trigger another pullback.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Source: https://coinedition.com/sui-price-prediction-sec-meeting-mysten-labs/
