Market Overview: Sonic/Tether (SUSDT) Sees Strong Bullish Momentum

Summary
• Sonic/Tether (SUSDT) formed a bullish continuation pattern above 0.0790 after a midday pullback.
• Momentum surged past key resistance near 0.0804, confirming upward bias with strong volume.
• Bollinger Bands signaled low volatility early, followed by a sharp expansion as price broke higher.
• On-balance volume confirmed price action, with turnover increasing 2.5x after 20:00 ET.
• RSI reached overbought territory, suggesting potential consolidation or reversal above 70.

Sonic/Tether (SUSDT) opened at 0.0765 on 2026-01-01 12:00 ET, peaked at 0.0823, and closed at 0.0807 as of 12:00 ET on 2026-01-02. The 24-hour volume reached 39,486,485.2 and notional turnover hit 3,150,184.23.

Structure and Formations

Price consolidated within a tight range early in the session, forming a contracting triangle before a decisive breakout above 0.0804. A bullish engulfing pattern formed at the breakout, with a follow-through rally confirming strength. A key support level emerged around 0.0790-0.0792, which held twice during pullbacks, suggesting it could be a short-term floor.

Moving Averages and Momentum

The 5-minute 20SMA and 50SMA crossed to the upside during the breakout, reinforcing the bullish bias. The MACD turned positive at 0.0002 and remained above the signal line, indicating continued momentum. RSI pushed into overbought territory in the afternoon, reaching 72-75, which suggests short-term consolidation or a pullback may be imminent.

Volatility and Volume

Bollinger Bands showed a sharp expansion after the breakout, with price sitting near the upper band by session end, indicating aggressive buying pressure. The average 5-minute volume increased by 300% after 20:00 ET, with the most active candle at 2026-01-02 20:00 ET showing a volume spike of 2,294,175.5 and a close at 0.0794 after a 0.0093 range.

Turnover and Fibonacci

Turnover increased in step with the price surge, peaking at $185,651.12 at 23:15 ET, with no divergence between volume and price. The key 38.2% Fibonacci retracement at 0.0804 acted as a strong support-turned-resistance level, which was then broken to the upside. The 61.8% level at 0.0817 appears to be the next potential ceiling.

Looking ahead, the pair may test 0.0815-0.0818 as the next key resistance cluster. A pullback into the 0.0800-0.0795 range could present a buying opportunity, but traders should be cautious as RSI remains overbought and volatility is high.