Market Overview for SUIUSDT on 2025-10-13

• SUIUSDT declined after reaching a 24-hour high of 2.9068, closing near 2.8664 with strong intraday volatility.
• Momentum indicators suggest weakening bearish momentum, with RSI hovering near neutral territory and MACD showing a mixed signal.
• A key support level at 2.8300 appears intact, with a potential rebound expected if buyers re-engage above this threshold.
• Volume spiked during the late-day rally but remains below the prior day’s average, suggesting muted conviction in the recovery.
• Fibonacci retracements indicate 2.8300–2.8500 as a probable consolidation zone ahead of the next directional move.

Price Summary and Volatility

Sui/Tether (SUIUSDT) opened at 2.6743 on 2025-10-12 at 12:00 ET, reached a high of 2.9068, and closed at 2.8664 at 12:00 ET on 2025-10-13. The pair experienced a range of 0.2421, with total volume of 89,664,941.8 and total turnover of 247,496,043.6 USD over the 24-hour period. The price exhibited a sharp reversal in the late hours, suggesting a potential shift in sentiment.

Structure and Key Levels

On the 15-minute chart, SUIUSDT formed several bearish patterns, including a bearish engulfing pattern at 2.9068 and a potential bullish harami near 2.8100. These suggest a tug-of-war between buyers and sellers. Key resistance levels include 2.9068 and 2.8816, while support is found at 2.8300 and 2.7746. The price appears to be consolidating around 2.8500, which may be a temporary equilibrium point.

Indicators and Momentum

The 20-period and 50-period moving averages on the 15-minute chart suggest a short-term bearish trend, with the 20-period line dipping below the 50-period. On the daily chart, the 50-period MA remains above the 100-period and 200-period lines, indicating a longer-term bullish bias. The RSI remains within neutral territory (50–60), suggesting no immediate overbought or oversold conditions. MACD has shown a weak bearish crossover, but the histogram is narrowing, hinting at a potential reversal.

Bollinger Bands on the 15-minute chart show a recent expansion in volatility as the price approached the upper band during the early morning rally. However, a contraction in band width occurred after the high at 2.9068, indicating a potential consolidation phase. The price is currently hovering near the middle band, with no immediate breakout signals evident.

Volume and Turnover Divergence

Volume surged during the late-day rally, especially between 09:00 and 11:00 ET, reaching a peak of 2.7 million tokens. Notional turnover also rose sharply during this period, suggesting a coordinated buying effort. However, the volume has since tapered off, and the price has failed to retest the 2.9068 high. This divergence between volume and price may indicate a lack of conviction in the bearish momentum, potentially setting the stage for a short-term reversal.

Backtest Hypothesis

The backtest of a three-day short-holding strategy based on bearish engulfing patterns in SUIUSDT showed a marginal loss and a deep drawdown. While the average winning trade was larger than the average loss, the low signal frequency and win rate were not enough to generate a positive expectancy. This suggests that the pattern alone is insufficient for consistent returns. Integrating filters such as volume spikes, trend alignment with higher timeframes, or tighter risk controls may improve the strategy's robustness. Given the current price structure, such filters could help isolate higher-probability setups if bearish signals reemerge.