Market Overview for Sophon/Tether (SOPHUSDT) – 24-Hour Analysis

• SOPHUSDT opened at $0.031 and traded between $0.03072 and $0.0323 within 24 hours.
• Price closed at $0.03194, showing a modest recovery from a mid-day pullback.
• Volatility expanded mid-day, with volume spiking to over 4.2 million at 18:15 ET.
• RSI and MACD suggest moderate bullish momentum despite late consolidation.
• Bollinger Bands reflect expanding volatility, with price testing upper and lower bounds.

Sophon/Tether (SOPHUSDT) opened at $0.031 at 12:00 ET on 2025-09-17 and reached a high of $0.0323 during the session, before settling at $0.03194 by 12:00 ET on 2025-09-18. The pair traded as low as $0.03072, showcasing a range of ~0.34%. Total volume amounted to ~31.5 million, with notional turnover reflecting strong participation during mid-day and early evening hours.

Structure & Formations

The 15-minute chart displayed several notable candlestick patterns. A bullish engulfing pattern emerged at 19:30 ET as price moved from $0.03132 to $0.03154, indicating short-covering and buyer interest. Later, a bearish harami at 00:45–01:00 ET suggested short-term indecision. A key support level formed around $0.03095–0.03096, with multiple bounces and retests. Resistance appears to be consolidating around $0.03146–0.03167, with repeated failed breakouts.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA mid-day, forming a golden cross that confirmed short-term bullish momentum. The daily chart shows the 50-period MA at $0.03100, below the 200-period MA, suggesting a longer-term bearish bias. The 100-period MA currently acts as a dynamic resistance level near $0.03150, limiting upward momentum in the absence of a clear breakout.

MACD & RSI

The MACD line turned positive mid-day, crossing above the signal line and indicating bullish momentum. Divergence appears in the later hours as price continues to rise while MACD weakens slightly, suggesting potential exhaustion. The RSI reached a high of ~58 by 23:00 ET, indicating moderate bullish pressure but not overbought conditions. A reading of 53 at close suggests continued buyer control, though caution is warranted as overbought territory (~60) remains untested.

Bollinger Bands

Bollinger Bands widened mid-day as volatility increased, with price reaching the upper band at $0.0323. Later, a consolidation phase saw price move into the lower band and bounce back toward the middle. The current price of $0.03194 is near the middle band, suggesting a neutral balance between buyers and sellers. A break above the upper band could confirm a breakout play, while a retest of the lower band may trigger a short-term pullback.

Volume & Turnover

Volume peaked at 4.2 million at 18:15 ET, corresponding to a sharp upward move in price. Total turnover for the period was ~$10.1 million, with the highest notional turnover occurring between 19:00–20:30 ET. Price and volume were in agreement during key bullish moves, particularly in the evening session, reinforcing the reliability of the upward trend. However, volume has since tailed off, suggesting waning momentum and a potential consolidation phase.

Fibonacci Retracements

Applying Fibonacci to the key swing from $0.03072 (low) to $0.0323 (high), the 61.8% retrace level is at $0.03147. Price has tested this level multiple times without breaking through, indicating strong resistance. The 38.2% retrace level at $0.03113 has acted as support during pullbacks. A potential next target for the 15-minute chart is the 78.6% level at $0.03214, which aligns with recent resistance levels.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions on a golden cross of the 20- and 50-period MAs on the 15-minute chart, with a stop loss placed below the nearest support level (~$0.03095–0.03096). A target could be set at the next Fibonacci retrace level or at the upper Bollinger Band. This setup would capture the morning bullish momentum and provide a defined risk-reward ratio. Given the current MACD divergence and flattening volume, however, a trailing stop may be preferable to lock in gains as momentum wanes.