Market Overview for SushiSwap/Tether (SUSHIUSDT) – 2025-09-24

• SushiSwap/Tether (SUSHIUSDT) traded in a 24-hour range of 0.6561–0.6919, closing near 0.6802 after a volatile session.
• Price found key support near 0.6641 and tested resistance levels around 0.6800–0.6850 multiple times.
• High volume and turnover surged during the 0330–0445 ET window, indicating strong selling pressure and trend uncertainty.
• RSI hit oversold levels early and overbought levels near the close, signaling potential for consolidation.
• Bollinger Bands expanded sharply after 0330 ET, confirming increased volatility and potential trend continuation.

24-Hour Price & Volume Summary

SushiSwap/Tether (SUSHIUSDT) opened at 0.6797 on 2025-09-23 at 12:00 ET, reaching a high of 0.6919 and a low of 0.6561 before closing at 0.6802 on 2025-09-24 at 12:00 ET. Total volume across the 24-hour window amounted to 964,667.3 units, with a notional turnover of $658,604.45. The pair experienced significant price swings and diverging momentum cues throughout the day.

Structure & Formations

The 15-minute chart displayed a bearish continuation pattern following a sharp decline below 0.6748, followed by a series of indecisive range-bound candles between 0.6760 and 0.6810. A key bearish engulfing pattern emerged at 0330 ET (candle 14), confirming a short-term downtrend. A long-legged doji at 0945 ET (candle 39) hinted at possible support consolidation near 0.6850–0.6875. The price then pushed back higher, forming a potential bullish flag pattern from 0945 to 1500 ET.

Moving Averages

On the 15-minute timeframe, the 20-period MA (SMA) ended at approximately 0.6812, while the 50-period MA was slightly lower at 0.6806. This indicates a narrowing gap with bullish potential if the 20 MA crosses above the 50 MA in the next few hours. On the daily chart, the 50-day MA sits at 0.6835, above the 200-day MA at 0.6790, showing a slight bullish bias over the broader timeframe.

MACD & RSI

The 12-26-9 MACD line showed a bearish crossover during the early morning hours, which was confirmed by a positive divergence with price in the late morning. By 10:15 ET, the MACD turned bullish again as price rose above the signal line. The RSI oscillated from an oversold level of 28 at 0330 ET to an overbought 63 at 10:15 ET, signaling short-term momentum shifts and potential exhaustion in both directions.

A key divergence formed between RSI and price at 0700–0900 ET, where RSI declined while price continued to make higher lows. This suggests growing bearish pressure and potential for a pullback below 0.6780 in the near term.

Bollinger Bands

Volatility increased sharply after 0330 ET, with Bollinger Bands widening from a contraction phase to a high-range 0.6641–0.6892. Price remained near the upper band from 0700 to 1000 ET before retracting to the middle band. The most recent candle at 1600 ET closed near the lower band at 0.6802, suggesting potential for a bounce or continuation depending on volume dynamics.

Volume & Turnover

Volume spiked during the 0330–0445 ET period, with one candle (033000) alone accounting for 127,189.4 units and a turnover of $86,555.92. This coincided with a sharp drop from 0.6748 to 0.6658, reinforcing the bearish breakdown. A second volume peak occurred at 0945 ET, with 52,602.6 units traded as price rallied from 0.6851 to 0.6876. Price and turnover were aligned in the early morning but showed signs of divergence in the midday.

Fibonacci Retracements

Applying Fibonacci retracement levels to the swing from 0.6561 to 0.6919, key levels include:- 23.6%: ~0.6775- 38.2%: ~0.6795- 50%: ~0.6740- 61.8%: ~0.6665

Price bounced off the 61.8% level twice—first at 0.6658 and then at 0.6628—before a strong rebound occurred. The 50% level at 0.6740 held briefly but failed to sustain the rally, suggesting bearish dominance in the immediate term.

Backtest Hypothesis

Given the recent bearish break below 0.6740 and the strong volume divergence observed during the 0330–0445 ET window, a backtest could simulate a short entry at 0.6628 with a stop-loss above the 0.6700 level and a target near 0.6560. This setup could be validated using the MACD divergence and RSI overbought levels as exit signals. A long setup could be tested at the 0.6740–0.6760 zone, where price has shown prior support, with a stop below 0.6700 and a target aligned with the 0.6800–0.6830 resistance cluster.