Market Overview: Sonic/Tether (SUSDT) on 2026-01-04

Summary
• Price surged from 0.082 to 0.0936 on a strong bullish breakout.
• A large-volume bullish engulfing pattern formed after 5:30 AM ET.
• RSI indicates overbought conditions, suggesting potential for near-term consolidation.
• Bollinger Bands widened, signaling rising volatility and aggressive buying pressure.
• Turnover and volume spiked during the rally, confirming strong participation.

Sonic/Tether (SUSDT) opened at 0.082 on 2026-01-03 12:00 ET, hit a high of 0.0945, and closed at 0.0936 as of 2026-01-04 12:00 ET. The pair traded between 0.0812 and 0.0945, with total volume of ~32,361,994.3 and notional turnover of ~2,670,472.33 USD over 24 hours.

Structure & Formations

Price formed a strong bullish engulfing pattern after 5:30 AM ET, following a consolidation phase. A key support level emerged at 0.0813–0.0816, while resistance is now at 0.093–0.0945, where a prior bearish reversal failed. A doji formed around 0.0852–0.0853, signaling indecision during a midday pullback.

Moving Averages

The 5-minute chart shows price above the 20 and 50-period SMAs, reinforcing the short-term bullish trend. On the daily timeframe, price remains above the 50-period SMA, suggesting a potential continuation of the upward trend, though the 100 and 200-period SMAs remain distant as potential long-term resistance.

Momentum & Volatility

The MACD line crossed above the signal line in the morning, confirming a bullish momentum shift. RSI reached overbought territory above 70, raising the likelihood of a short-term correction. Bollinger Bands expanded significantly during the rally, indicating heightened volatility, with price closing near the upper band at 0.0936.

Volume and Turnover

Volume spiked sharply from 5:30 AM to 10:45 AM ET, coinciding with a breakout above 0.0875 and a surge to 0.0945. Notional turnover spiked to over 572k USD during that period, confirming strong buying pressure. Divergences between volume and price were minimal, supporting the legitimacy of the move higher.

Fibonacci Retracements

Fibonacci levels from the key swing low at 0.0813 to the high at 0.0945 show 0.0936 aligning with the 76.4% level, suggesting a possible pause or consolidation. A retest of 0.0898 (61.8%) or 0.0883 (50%) is likely in the near term if the pair pulls back.

The market appears to be in a strong short-term bullish phase, but overbought conditions and a lack of follow-through buying could lead to a near-term retracement. Investors should monitor the 0.093–0.0945 zone for potential reversal cues and be cautious of volatility-driven pullbacks over the next 24 hours.