Market Overview for Somnia/Tether (SOMIUSDT) on 2025-09-25

• Price declined sharply from 0.9181 to 0.8550 before rebounding to 0.9096.
• Volatility surged during the overnight session, reaching 0.9458 before a pullback.
• Turnover hit 33.3 million USD, with heavy trading during the Asian session.
• RSI signaled oversold conditions in early hours, followed by a tentative bullish reversal.
• Key support levels formed at 0.8550 and 0.8815, with resistance near 0.9102 and 0.9245.

24-Hour Summary

Somnia/Tether (SOMIUSDT) opened at 0.9179 on 2025-09-24 at 12:00 ET, surged to a high of 0.9458, dipped to a low of 0.8550, and closed at 0.9096 on 2025-09-25 at 12:00 ET. Total volume over 24 hours was 158,394,462.6, and notional turnover reached 143,059,108.8 USD.

Structure & Formations

Price action exhibited a bearish impulse wave during the overnight session, with a key low at 0.8550 followed by a bullish reversal into the Asian and European sessions. A hammer pattern emerged around 0.8550, suggesting a potential support level. The price later formed an engulfing bullish pattern at 0.8811–0.8953, indicating a short-term bounce.

Moving Averages

On the 15-minute chart, price remained below the 20 and 50-period moving averages for most of the session, indicating a bearish bias. On the daily chart, the 50-period MA is at 0.9085, the 100-period at 0.9045, and the 200-period at 0.8935. The price closed near the 50-day MA, indicating a potential consolidation phase.

MACD & RSI

MACD remained negative for most of the session, with a recent crossing to positive territory in the last few hours, indicating a potential bullish shift in momentum. RSI reached oversold levels (~25) during the overnight lows and rose above 50 in the afternoon, suggesting a possible reversal. However, RSI remains below the overbought threshold (~70), so a continued pullback is likely.

Bollinger Bands

Volatility expanded significantly during the overnight session, with price touching the lower Bollinger Band at 0.8550 before rebounding. The bands have since contracted, with price trading in a tighter range during the day session. The current price of 0.9096 is above the 20-period MA and sitting near the middle band, suggesting a neutral to slightly bullish bias.

Volume & Turnover

Volume spiked during the Asian session, particularly between 03:00 and 05:00 ET, with a major increase in turnover as the price rose from 0.8550 to 0.8953. The afternoon session saw a reduction in volume but remained above average. A divergence between price and volume in the late afternoon suggested a possible exhaustion in the short-term rally.

Fibonacci Retracements

Applying Fibonacci to the overnight move from 0.9181 to 0.8550, the 38.2% retracement level is at 0.8944 and the 61.8% at 0.9102. The 61.8% level coincided with the 12:00 ET close at 0.9096, indicating a possible short-term consolidation point.

Backtest Hypothesis

The backtest strategy assumes a long bias when price breaks above the 61.8% Fibonacci level and RSI crosses above 50 with increasing volume. A sell target is placed at the next 15-minute high (0.9245), with a stop-loss just below the 0.8815 support. The strategy relies on Fibonacci retracements and RSI as confirmation signals, and could be optimized by incorporating volatility bands and volume analysis to filter false breakouts.