Market Overview for SUNUSDT on 2025-09-16

• SUNUSDT opened at $0.02034 and closed at $0.02023, forming a bearish bias with a 24-hour range of $0.02021–$0.02052
• Price tested key resistance near $0.02042–$0.02045, failing to hold and retreating toward $0.02032–$0.02035 support
• RSI and MACD signaled weakening momentum, with RSI dipping into oversold territory and MACD showing bearish convergence
• Bollinger Bands constricted during early overnight hours, followed by a breakout and reversion in line with Fibonacci retracement levels
• Volume declined during the afternoon, but picked up sharply near key resistance, highlighting trader hesitation and profit-taking

Sun/Tether’s SUNUSDT pair opened at $0.02034 on 2025-09-15 at 12:00 ET and closed at $0.02023 by 12:00 ET on 2025-09-16.
The 24-hour high and low were $0.02052 and $0.02018, respectively, with a total trading volume of 9,229,925 SUN and notional turnover of $184,188.

Structure & Formations

Key support levels emerged at $0.02032 and $0.02025–$0.02027 during the afternoon and evening trading session. Resistance levels at $0.02042–$0.02045 and $0.02037–$0.02039 were tested multiple times but failed to hold. A bearish engulfing pattern formed in the early afternoon at $0.02041–$0.02037, followed by a hanging man pattern near the 24-hour high at $0.02052, reinforcing the bearish bias. A bullish harami appeared briefly in the early morning, suggesting a potential short-covering rally, but it was quickly negated by bearish momentum.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed into bearish territory in the afternoon, with the 20 EMA dipping below the 50 EMA. On the daily timeframe, the 50-period and 200-period moving averages suggest a longer-term bearish trend, with the 200 EMA acting as a key long-term resistance at $0.0204. The price remains below the 50 SMA, indicating a lack of sustained bullish momentum.

MACD & RSI

The MACD line crossed below the signal line in the early afternoon and remained in bearish territory for the rest of the 24-hour period. This bearish crossover aligned with a divergence in price and momentum, as price reached a minor high at $0.02052 while the RSI failed to confirm. The RSI dipped into oversold territory near $0.02020 in the late evening, suggesting a potential short-term bounce, but failed to cross above 50, indicating weak recovery.

Bollinger Bands

Bollinger Bands constricted between $0.02035 and $0.02041 during the early morning hours, signaling a period of low volatility before a breakout. Price briefly broke above the upper band at $0.02052 before retracting to near the middle band, which acted as a dynamic resistance. In the late afternoon, price retested the lower band and bounced briefly, but failed to sustain a bullish move, reinforcing the bearish trend.

Volume & Turnover

Trading volume spiked near key resistance at $0.02042–$0.02045, indicating a high level of interest and potential profit-taking or stop-loss triggers. The notional turnover also spiked during this period, confirming that the price action was backed by liquidity. In contrast, volume declined during the afternoon, suggesting a lack of conviction in bearish continuation. The divergence between volume and price during the late evening session could signal a potential reversal if it persists.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 24-hour swing from $0.02018 to $0.02052, price retested the 61.8% level at $0.02036–$0.02037 and the 38.2% level at $0.02042–$0.02045. The 61.8% level held briefly before price resumed its decline, suggesting that the 38.2% level may now act as a key resistance. On the daily timeframe, the 50% and 61.8% levels of the larger bearish swing may provide near-term support and resistance in the next 24 hours.

Backtest Hypothesis

Based on the observed price behavior and technical indicators, a potential backtest strategy could involve a short bias when the 20 EMA crosses below the 50 EMA and RSI falls below 50, with a stop-loss placed above the 61.8% Fibonacci level. A long bias could be triggered during retests of the 38.2% Fibonacci level if RSI rises above 50 and MACD shows bullish divergence. This approach would aim to capture trend continuation in a bearish market while managing risk through defined stop levels and profit targets.