Market Overview for Sui/Tether USDt (SUIUSDT)

• SUIUSDT consolidates after a sharp 24-hour swing, closing near 3.3525 after hitting 3.4244 high.

• Volatility remained elevated, with Bollinger Bands showing price fluctuating across 3.33–3.41.

• RSI hovered around 50–60, suggesting balanced momentum but no clear overbought or oversold conditions.

• MACD showed mixed signals, with bullish divergence in early hours but bearish flattening later.

• Volume surged at key swing highs, particularly near 3.4159, but failed to confirm bullish continuation.

SUIUSDT opened at 3.3775 on 2025-09-05 12:00 ET, reached a high of 3.4244, a low of 3.3382, and closed at 3.3525 on 2025-09-06 12:00 ET. The total 24-hour volume was approximately 16,463,783.1 units, with a notional turnover of around $54,448,322.0 (assuming a constant $1 for USDT-based turnover).

Structure & Formations

SUIUSDT has shown a notable bearish reversal pattern around the 3.4159 high, where price failed to break above and pulled back sharply over the next 8 hours. A key support level formed at 3.3525–3.356, coinciding with a bullish engulfing pattern at 3.3528 on 2025-09-06 12:00 ET. A potential resistance cluster is forming at 3.38–3.39, where price had previously stalled multiple times. A 3.3382 support was briefly tested and held, suggesting a floor for near-term bearish action.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed around 3.38–3.39, forming a potential bearish crossover as price moved below both. Daily moving averages (50, 100, and 200) are converging around 3.36–3.38, indicating a potential consolidation phase. Price is currently testing the 50-period MA on the daily timeframe, which could signal a short-term reversal or continuation depending on volume.

MACD & RSI

The MACD crossed below the signal line in the early morning, confirming a bearish shift in momentum, with the histogram showing a widening divergence in the 8–9 AM ET range. RSI remained in the 50–60 range throughout the session, indicating a neutral momentum phase with no overbought conditions. Price failed to sustain above 3.40 despite a couple of RSI bounces near 60, suggesting a lack of conviction in bullish momentum.

Bollinger Bands

Bollinger Bands expanded significantly during the 2–4 AM ET period, reflecting heightened volatility as price swung between 3.40–3.35. Price has since consolidated within a narrower band, hovering near the lower half, suggesting a period of uncertainty or consolidation. A potential breakout above the upper band at 3.39–3.40 could signal renewed bullish interest, while a breakdown below 3.35 risks a deeper correction to 3.33 or lower.

Volume & Turnover

Volume spiked at key resistance levels around 3.4159 and 3.385, but failed to confirm bullish continuation. Turnover also showed elevated activity during the late-night to early morning hours as price moved from 3.41 to 3.35. A divergence is observed between price and volume during the 9–11 AM ET range, where price recovered slightly but volume remained subdued, indicating a lack of follow-through buying interest. This may suggest that the current consolidation could give way to further downside.

Fibonacci Retracements

Key Fibonacci levels on the 3.3382–3.4244 swing are at 3.376 (38.2%) and 3.360 (61.8%). Price tested both levels during the consolidation phase, showing rejection and bearish exhaustion. The 50% retraction level at 3.381 has acted as a key pivot point, with price oscillating around it for several hours. A break below 3.360 would target the next level at 3.342, reinforcing a bearish scenario.

Backtest Hypothesis

A potential backtesting strategy could involve using the 50-period moving average as a dynamic support/resistance trigger, combined with RSI divergence. For example, a long signal could be generated when price bounces above the 50 MA on the daily chart, confirmed by an RSI bounce above 50 with a bullish divergence. Conversely, a short signal could be triggered when price breaks below the 50 MA with an RSI drop below 50 and bearish divergence. The recent behavior of SUIUSDT aligns with this framework, suggesting a viable strategy for automated execution in similar market conditions.