Market Overview: Syscoin/Tether (SYSUSDT) – 24-Hour Action & Technical Setup

• Price dropped to 0.0287 before recovering to 0.0296; bearish momentum waned after midday
• Key support tested at 0.0290–0.0293, with mixed candlestick confirmation
• Volatility surged midday but has stabilized near key psychological levels
• Turnover spiked during the sell-off but has declined with renewed consolidation

Syscoin/Tether (SYSUSDT) opened at 0.0304 on 2025-10-28 at 12:00 ET, reaching a high of 0.03083 and a low of 0.0287 before closing at 0.02964 on 2025-10-29 at 12:00 ET. Total 24-hour volume was 9,566,920, with notional turnover reaching $287,713. The price action shows a sharp bearish collapse midday but has since consolidated near key support levels.

Structure & Formations

Price action displayed a significant breakdown below 0.0300, with a bearish engulfing pattern confirmed after the 19:30 ET candle. A key support zone formed between 0.0290 and 0.0293, where price found buyers for much of the evening. A long-legged doji appeared at 0.02925, suggesting a potential reversal. Above, a cluster of resistance levels formed around 0.0298 and 0.0302 as the pair bounced off these levels twice.

Moving Averages

On the 15-minute chart, price is currently trading below both the 20 and 50-period moving averages, suggesting a short-term bearish trend. The 50-period line is around 0.0295, acting as a key near-term pivot. On the daily scale, the 50- and 100-period SMAs are converging near 0.0300, reinforcing the bearish bias for the past 24 hours. The 200-day EMA remains higher, indicating the longer-term trend is still in question.

MACD & RSI

MACD lines show bearish divergence in the 15-minute timeframe, with the histogram shrinking as price consolidates. The RSI is currently at 48, indicating a neutral to weak momentum environment. RSI was near oversold territory (30s) during the early evening sell-off but has recovered slightly. This suggests that the sell-off may have exhausted short-term bearish pressure but does not confirm a bullish reversal.

Bollinger Bands

Volatility expanded significantly during the midday sell-off, with price dropping to the lower Bollinger band near 0.0287. The band width has since narrowed as the pair has consolidated near the 0.0294–0.0297 range. Price currently sits in the middle band on the 15-minute timeframe, suggesting a possible continuation or reversal depending on volume and follow-through.

Volume & Turnover

The largest volume spikes occurred during the midday sell-off, particularly around the 20:30 ET candle, when the price dropped from 0.0300 to 0.0288. This was followed by a sharp rebound with increased turnover, suggesting strong buying interest at lower levels. However, the current volume has declined, indicating that buyers may be cautious. The divergence between price action and turnover at the end of the session could signal a potential shift in momentum.

Fibonacci Retracements

Fibonacci levels for the recent 0.0308–0.0287 swing show that 0.0295 is the 61.8% retracement level, which has acted as a key support area. Price is now consolidating near this level, and a break below 0.0290 could bring the 38.2% level at 0.0293 into focus. A retest of 0.0298–0.0300 would be a critical test of short-term strength.

Backtest Hypothesis

The inability to retrieve RSI data for the full 3.5-year period is a limitation for backtesting. A potential alternative is to apply a modified RSI-based strategy using the available 15-minute data. For example, a short-term RSI(14) could be used to identify oversold levels (RSI < 30) and generate long entries. Given the recent action around key support levels, a strategy based on RSI-oversold signals could have captured the rebound from 0.0287. With the current RSI near 48, there is no immediate signal to enter, but this approach could be tested if full historical RSI data becomes available.