Market Overview: SUI/USDT 24-Hour Performance and Key Technicals

• SUI/USDT advanced 1.7% over 24 hours amid strong volume and bullish momentum.
• A key resistance at $3.7221 was tested multiple times with mixed follow-through.
• Bollinger Bands show moderate volatility expansion, supporting trend continuity.
• RSI indicates overbought conditions, hinting at potential near-term consolidation.
• Volume surged during the rally phase, validating the bullish breakout attempt.

Sui/Tether (SUIUSDT) opened at $3.6668 on 2025-09-14 at 12:00 ET, climbed to a high of $3.7342, and closed at $3.6572 on 2025-09-15 at 12:00 ET. Total 24-hour volume was 8,175,435.3 SUI, with $29,646,591.00 in notional turnover. The pair showed a mixed narrative of strength and caution, with price fluctuating around critical levels.

Structure & Formations

The 24-hour period revealed a strong upward bias, with a clear attempt to break above $3.7221 — a former resistance that became a pivot. A bullish engulfing pattern was observed around $3.70–3.71, indicating a shift in momentum. A doji near $3.6950 signaled indecision following the sharp decline from $3.7264. Notable support levels include $3.6903 and $3.66, with the former showing resilience after a sharp drop in the early hours.

Fibonacci Retracements

Applying Fibonacci retracements to the most recent 15-minute swing (from $3.6603 to $3.7342), the 61.8% retracement level is at approximately $3.6924, which coincided with a key support area. On the daily chart, the 50% retracement level around $3.7027 acted as a pivot during the session. These levels were closely tested, reinforcing their importance for near-term price action.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are converging upward, with price holding above both, indicating a bullish trend. The 50-period MA acts as a support line in the lower part of the chart. On the daily chart, the 50/100/200 MA cluster suggests that SUI/USDT is consolidating after a recent rally. Price is currently sitting below the 200 MA at $3.695, suggesting a potential test of long-term support.

MACD & RSI

The MACD line turned positive and remained above the signal line for much of the 24-hour period, confirming the bullish momentum. However, a bearish divergence appeared near the end of the session, suggesting weakening buying pressure. The RSI peaked at 66 on the 15-minute chart and briefly entered overbought territory, signaling potential short-term pullbacks. It has since retraced into neutral ground, suggesting a consolidation phase may be imminent.

Bollinger Bands

Bollinger Bands showed a moderate expansion during the rally from $3.66 to $3.73, with price frequently bouncing between the upper and lower bands. This suggests increased volatility and trend strength. As of the close, SUI/USDT is trading below the upper band but above the 20-period moving average, indicating that the trend remains intact, though a consolidation phase may be approaching.

Volume & Turnover

Volume surged during key rally phases, particularly from $3.70 to $3.73, validating the upward move. Notional turnover also spiked during these periods, suggesting strong participation. A divergence between rising price and declining volume in the final hours of the session suggests weakening conviction. This may indicate a potential pullback or sideways consolidation.

Backtest Hypothesis

A potential backtesting strategy for SUI/USDT could focus on using the 50-period MA as a dynamic support line and the 15-minute RSI as a momentum filter. For example, a long entry could be triggered when price closes above the 50 MA and RSI crosses above 50 from below, while an exit could be triggered when RSI drops below 50 or a bearish divergence is detected. This strategy would aim to capture trend-following rallies while using RSI to filter out false breakouts.