Market Overview for Sophon/Tether (SOPHUSDT) – 2025-10-10

• SOPHUSDT closed at 0.02981, up 7.5% from 0.02774, with strong bullish momentum in the final 6 hours.
• RSI surged into overbought territory, while MACD crossed above zero with a bullish divergence.
• Volatility expanded through a 2.8% range, with Bollinger Band expansion confirming heightened interest.
• Volume spiked 5x during the 15:00–18:00 ET session, coinciding with a 3.4% price surge.
• Key support at 0.02940 and resistance at 0.03024 were tested and held through high-volume periods.

Sophon/Tether (SOPHUSDT) opened at 0.02774 on 2025-10-09 12:00 ET, reached a high of 0.03037, and settled at 0.02981 as of 12:00 ET on 2025-10-10. Total 24-hour volume amounted to 81,680,530.0, with notional turnover of approximately $2,439,620.24. The pair exhibited strong bullish momentum, particularly in the afternoon and evening hours.

Structure & Formations

The 24-hour chart showed a distinct bullish trend, with SOPHUSDT forming a strong ascending triangle pattern between the 0.02823 support and 0.03037 resistance. A key breakout occurred around 09:30–10:00 ET, where price pierced the upper boundary of the triangle on high volume. This breakout was confirmed by a large bullish engulfing pattern on the 15-minute chart. A morning doji at 03:15 ET indicated indecision before the bullish rally began. The key support at 0.02940 was tested twice with a failed bearish attempt, suggesting strong buying interest in the 0.02940–0.02960 zone.

Moving Averages

On the 15-minute chart, the 20-period EMA crossed above the 50-period EMA (golden cross), confirming a short-term bullish bias. The 50-period EMA is currently at 0.02976, just below the close. On the daily chart, the 50-period SMA is at 0.02957, while the 100-period SMA is at 0.02910 and the 200-period SMA at 0.02860. Price closed above all three, indicating a strong intermediate-term bullish setup.

MACD & RSI

The MACD line crossed above zero around 07:30 ET and remained positive, with a histogram showing increasing bullish momentum. The signal line crossed the MACD line in a bullish crossover around 09:15 ET, further confirming the rally. RSI surged to 72 by 10:30 ET, indicating overbought conditions, though divergence between price and RSI was not evident. The RSI has since pulled back slightly but remains in overbought territory, suggesting that the bullish trend is still intact.

Bollinger Bands

Bollinger Bands expanded significantly during the 15:00–18:00 ET session, reflecting heightened volatility. Price traded at the upper band during this time, indicating a strong continuation of the bullish trend. The width of the bands increased by over 30% compared to the previous day, which often precedes a reversal or consolidation phase. However, the continued strength in volume and price suggests that the upward trajectory is likely to continue.

Volume & Turnover

Volume spiked to a 24-hour high of 8,168,053 at 15:45 ET as the price hit 0.02924 after a major dip, but this was followed by a strong rebound. The highest notional turnover occurred during the 15:00–18:00 ET window, with a peak at 03:15 ET when a bearish candlestick formed. However, volume during the bullish breakout was significantly higher than the previous bearish attempt, confirming price action and signaling strong conviction in the upward move.

Fibonacci Retracements

On the 15-minute chart, the 50.0% Fibonacci retracement level at 0.02960 acted as a strong support during the afternoon. The 61.8% level at 0.03004 was briefly tested in the early morning hours but failed as a resistance. On the daily chart, the 38.2% Fibonacci level at 0.02930 held during the morning pullback, while the 61.8% level at 0.03024 may serve as the next potential resistance.

Backtest Hypothesis

Given the current bullish momentum and confirmed breakout, a potential backtest strategy could focus on entries after a breakout above the 0.03024 Fibonacci resistance, with a stop-loss placed below 0.02960. A trailing stop could be used to capture continued gains, given the sustained strength in volume and MACD divergence. The 15-minute EMA cross and RSI re-entry above 60 could act as confirmatory signals. This approach leverages both trend-following and breakout dynamics, common in high-volume, low-latency environments like SOPHUSDT.