Market Overview for Sophon/Tether USDt (SOPHUSDT)

• Price rose from 0.03156 to 0.03236 amid volatile swings and strong volume during the 24-hour period.
• Key resistance appears at 0.0323–0.0324 with support forming near 0.0321.
• A bullish momentum is visible, but RSI suggests potential overbought conditions.
• High volume activity around 0.0321–0.0325 suggests strong liquidity and participation.
• A potential bearish divergence in late hours may hint at profit-taking ahead.

Sophon/Tether USDt (SOPHUSDT) opened at 0.03156 on 2025-09-09 at 12:00 ET, surged to a high of 0.03244, and closed at 0.03236 on 2025-09-10 at 12:00 ET. Total trading volume reached 20,615,275.0, with a notional turnover of approximately $668,164. The price movement over the last 24 hours was marked by several intraday breakouts and consolidations.

The structure of the 15-minute candles suggests a strong bullish bias during early trading hours, with price pushing above key psychological levels near 0.0321 and 0.0323. A bearish engulfing pattern appeared briefly in the 05:45–06:00 ET window, indicating a potential reversal attempt. A small bearish doji formed around 0.03245 at 13:30 ET, signaling a temporary pause in the rally. Key support appears to be forming around 0.0321–0.0322, while resistance remains in the 0.0323–0.0325 range.

The 20-period and 50-period moving averages on the 15-minute chart suggest that SOPHUSDT is in a short-term bullish trend. The 50-period MA crossed above the 20-period MA during the early morning, confirming a potential short-term bullish breakout. For the daily chart, while the 50 and 100-period MAs are converging, the 200-period MA remains below the price, indicating that the long-term bearish trend is not yet resolved.

MACD turned positive after 04:00 ET, confirming the strength in the rally, with a recent bearish crossover hinting at a slowdown. RSI reached overbought territory around 0.0324, suggesting a possible pullback. Bollinger Bands show a moderate expansion, with SOPHUSDT trading near the upper band during the early morning and drifting toward the middle band by the end of the period, indicating a possible consolidation phase.

Volume and turnover peaked between 04:15–04:30 ET, coinciding with a strong move above 0.0323. A divergence between price and volume occurred in the late afternoon, with price pushing higher while volume declined—suggesting a potential exhaustion of bullish momentum. Notional turnover remained relatively steady after 12:00 ET, indicating a balanced market.

Fibonacci retracements from the 0.03156 to 0.03244 range suggest critical levels at 0.0321 (38.2%) and 0.03235 (61.8%), both of which acted as short-term support and resistance during the 24-hour period. A breakdown below 0.0321 would likely trigger a retest of 0.03188, while a push above 0.03245 could target 0.03256.

Backtest Hypothesis
The proposed backtest strategy involves entering a long position when SOPHUSDT closes above the 50-period MA on the 15-minute chart, with a stop-loss placed below the recent swing low (0.0321–0.0322). A take-profit target is set at the next Fibonacci level (0.03235–0.03245). Given the recent overbought RSI and bearish divergence in volume, this strategy would need to be adjusted if overbought conditions persist or if volume fails to confirm further price strength.