Market Overview for Sophon/Tether (SOPHUSDT) — October 9, 2025

• Price surged from $0.02889 to a high of $0.02969 before consolidating.
• Key support at $0.02931 and resistance at $0.02960 were tested multiple times.
• Volume spiked during the $0.0296–$0.02969 rally, confirming bullish momentum.
• RSI reached overbought levels near 70 during the rally, indicating potential pullback risk.
• Bollinger Bands showed low volatility pre-20:00 ET, followed by a sharp expansion.

Opening and Closing Summary

At 12:00 ET–1, Sophon/Tether (SOPHUSDT) opened at $0.02895 and reached a 24-hour high of $0.02969. Price closed at $0.02895 as of 12:00 ET today, following a consolidation phase. The total 24-hour volume was 33,197,290 SOPH, with a turnover of $975,090 in USDT.

Structure & Formations

Price action formed a bullish flag pattern between $0.02939 and $0.02969 after a sharp rally. A notable engulfing pattern emerged at 20:45 ET, confirming the breakout. A doji at $0.02967 signaled indecision. Key support levels appear at $0.02931 (38.2% Fibonacci) and $0.02889 (61.8% Fibonacci), while resistance is at $0.02960 (congestion zone).

Moving Averages and Momentum

On the 15-minute chart, the 20SMA and 50SMA crossed to the upside at $0.02945 and $0.02938, respectively, indicating bullish momentum. On the daily chart, price is above the 50DMA and 100DMA, but the 200DMA at $0.02905 acts as a strong support. MACD crossed into positive territory with increasing volume, while RSI peaked at 73, signaling overbought conditions and potential pullback risk.

Bollinger Bands and Volatility

Bollinger Bands narrowed significantly before 20:00 ET, indicating a period of consolidation. Following the breakout at $0.0296, volatility spiked, and price moved above the upper band. This expansion may suggest a continuation of the rally but also implies increased short-term pressure to retest the mid-band or lower band if momentum wanes.

Volume and Turnover

Volume surged during the $0.0296–$0.02969 rally, with a 15-minute candle at 20:45 ET showing 1,958,687 SOPH traded. Turnover was consistent with price moves, showing no significant divergence. A divergence in volume during the consolidation phase suggests reduced conviction.

Fibonacci Retracements

Key Fibonacci levels from the $0.02889 to $0.02969 swing include 38.2% at $0.02931 and 61.8% at $0.02915. Price appears to have stalled at the 38.2% level and may test the 50% level at $0.02924 next. Daily retracements suggest a critical support at $0.02887, where the 61.8% level aligns with the 200DMA.

Backtest Hypothesis

A potential backtesting strategy involves entering long at the close of a bullish engulfing candle (confirmed breakout), with a stop-loss at the prior swing low and a take-profit at the 38.2% Fibonacci level. Given today’s price action, this would have entered long at $0.02963 with a stop at $0.02932 and a target at $0.02949. A modified version could also use RSI over 70 as an exit signal, which would have triggered a sell-off after reaching $0.02969.