Market Overview for Sonic/Tether (SUSDT) on 2025-09-27

• Sonic/Tether (SUSDT) saw a 24-hour low of 0.2347 and high of 0.2418, ending at 0.2379 after a choppy session.
• Volatility expanded in early ET hours, with a sharp pullback observed post 8:00 ET.
• Volume surged over 10M in key reversal areas, while turnover confirmed price action during the rally.
• A bullish engulfing pattern emerged midday, but failed to hold above 0.2411.
• RSI entered overbought territory twice, but failed to trigger a meaningful breakout.

Sonic/Tether (SUSDT) opened at 0.2363 on 2025-09-26 12:00 ET, reached a high of 0.2418, hit a low of 0.2347, and closed at 0.2379 as of 2025-09-27 12:00 ET. Total volume over the 24-hour period was 114,105,406.8 units, with a notional turnover of approximately $27,325,750. The pair experienced a volatile and uneven session with multiple swing highs and pullbacks.

Structure & Formations

The 24-hour chart showed a clear bearish bias after reaching a key swing high near 0.2411. A large bearish engulfing pattern formed around 19:30 ET as the price closed below the previous candle's open, indicating increased selling pressure. The price tested the 0.2383–0.2393 range multiple times, suggesting strong resistance. A doji at 02:00 ET on 2025-09-27 hinted at indecision, while a sharp pullback below 0.2379 indicated weakening bullish momentum. A potential support level appears to be forming around 0.2363–0.2372, where the price found temporary refuge multiple times.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed into the bearish territory after 17:30 ET, reflecting a shift in momentum. The 50-period MA acted as a dynamic resistance during the initial rally. On the daily chart, the 50-period MA sits at approximately 0.2392, the 100-period at 0.2398, and the 200-period at 0.2396, suggesting the price is currently below long-term average, which could be a bearish signal if the trend continues.

MACD & RSI

The MACD histogram turned negative after 18:00 ET, confirming the bearish reversal. The RSI crossed into overbought territory twice during the rally, peaking near 68, but failed to push beyond 70, suggesting the momentum lacked conviction. The RSI then dropped back below 50, indicating weakening bullish pressure. The Stochastic RSI mirrored the divergence, with lower highs and lower lows in the 60–80 range.

Bollinger Bands

Volatility expanded early in the session, with the Bollinger Bands widening and the price touching the upper band. After 20:00 ET, volatility contracted, and the price settled closer to the middle band. By 06:00 ET on 2025-09-27, the bands expanded again due to the sharp pullback. The price remained inside the bands for most of the session, except during a brief spike above 0.2405. The recent contraction may indicate a potential reversal or consolidation phase.

Volume & Turnover

The volume saw a significant spike above 10M during the bearish reversal, confirming the sell-off. The highest single-candle volume was 10.16M at 17:30 ET, corresponding to the engulfing pattern. Turnover confirmed the volume spikes, with notional turnover reaching $2.66M during the same candle. A divergence appeared around 02:00 ET, where volume increased but the price moved sideways, signaling a possible exhaustion in either direction.

Fibonacci Retracements

Applying the Fibonacci retracement levels to the key swing high at 0.2411 and the swing low at 0.2347, the 38.2% and 61.8% levels correspond to 0.2387 and 0.2361, respectively. The price held above the 61.8% level for most of the session, indicating strong support. A breakdown below 0.2361 may trigger further downside to 0.2347, while a retest of the 38.2% level could lead to a potential rebound.

Backtest Hypothesis

A backtesting strategy based on the engulfing candle pattern and RSI divergence could be tested on this data. The key criteria would include: 1) a bearish engulfing candle forming after the price reaches a key resistance level, and 2) RSI indicating overbought conditions with a divergence. Given the observed pattern around 19:30 ET and RSI divergence earlier in the session, a short trade could have been triggered. Stops could have been placed above the high of the engulfing candle, with targets near the 61.8% Fibonacci level and the previous swing low.