Market Overview for Sushiswap (SUSHIUSD)
• SushiswapSUSHI-- (SUSHIUSD) experienced a sharp decline after 21:15 ET, followed by consolidation near $0.738.
• Price formed a strong rejection at $0.738, with no significant bearish follow-through in the 24-hour window.
• Volume and turnover remained muted until a large 15-minute candle at 21:15 ET triggered a sell-off.
• RSI and MACD indicated oversold conditions by the close, hinting at potential near-term bounce.
• Volatility expanded during the drop but has since stabilized in a narrow range.
Sushiswap (SUSHIUSD) opened at $0.783 on 2025-08-29 at 12:00 ET, reached a high of $0.90, and closed at $0.738 on 2025-08-30 at 12:00 ET, with a low of $0.738. Total volume for the 24-hour period was 1,697.8, and total turnover was approximately $1,242.5. The price action featured a sharp sell-off and subsequent consolidation.
Structure & Formations
The price formed a significant bearish candle at 21:15 ET with a high of $0.743 and a low of $0.0, signaling a sharp reversal. This was followed by a consolidation phase near $0.738, where the price has remained range-bound. No bullish engulfing or reversal patterns emerged, but a rejection at $0.738 appears to be developing as a short-term support level. A doji formed at 02:15 ET could indicate indecision but lacks confirmation for a reversal.
Moving Averages
On the 15-minute chart, the 20-period and 50-period moving averages both declined sharply with the price action, trailing the recent low. The daily chart shows the 50- and 100-period moving averages in a downtrend, suggesting continued bearish momentum. The 200-day MA remains a key long-term reference point.
MACD & RSI
The MACD line crossed below the signal line during the sell-off and remains bearish. However, it has shown divergence as price stabilized. The RSI reached oversold territory, dipping below 30 by the close, which may indicate a potential bounce. A sustained close above 40 would signal renewed buyer interest.
Fibonacci Retracements
Applying Fibonacci levels to the recent swing from $0.90 to $0.738, the 38.2% retracement level is at approximately $0.800, and the 61.8% level is at $0.830. A break above $0.830 could validate a short-term bullish trend, while a retest of the 38.2% level may trigger further profit-taking.

Bollinger Bands
Volatility expanded during the sharp sell-off, with the bands widening significantly. The price has since settled within the bands but has not tested the lower boundary, indicating a possible pause in bearish momentum. A breakout below the lower band would signal renewed downside risk.
Volume & Turnover
Volume was largely absent until the large sell-off at 21:15 ET, which recorded a turnover of $1,172.3. This spike in turnover failed to push the price lower beyond $0.738, suggesting a potential support level. Volume has remained muted in the subsequent consolidation phase, with no signs of increased selling pressure.
Backtest Hypothesis
A potential backtesting strategy could focus on identifying sharp sell-offs followed by a consolidation phase and oversold RSI conditions. The recent drop in SUSHIUSDSUSHI-- aligns with this pattern, and a rebound off the $0.738 level could serve as a short-term entry trigger. Testing this strategy over multiple cycles may confirm its viability in range-bound environments with clear support levels.



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