Market Overview: Sonic (SUSDT) 24-Hour Summary (2025-08-03)

• Sonic (SUSDT) posted a strong 24-hour rebound, closing near a 24-hour high amid rising volume.
• A bullish engulfing pattern emerged near 0.2923, suggesting short-term buying pressure.
• Volatility expanded significantly during the early hours of 2025-08-03, with price surging past key resistance.
• RSI shows moderate momentum with no overbought conditions, indicating room for further gains.
• Volume surged 65% in the final 6 hours, confirming the breakout above key support-turned-resistance.

Sonic (SUSDT) opened at 0.2921 on 2025-08-02 at 12:00 ET and closed at 0.3001 on 2025-08-03 at 12:00 ET. The pair hit a high of 0.305 and a low of 0.2813 during the 24-hour period. Total volume amounted to 103,206,522.2 and total turnover was approximately $29,124,971.

Structure & Formations

Sonic (SUSDT) broke through a key resistance level near 0.2923 with a bullish engulfing pattern on the 15-minute chart. This was followed by a continuation of the upward trend, with price testing and surpassing previous intraday highs. A notable support level emerged near 0.2857, which held during a sharp correction before being rejected and reversed. The 0.2905–0.2923 range has become a critical area for near-term traders.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending upward, with price consistently above both. The 50-period MA is rising sharply, indicating sustained momentum. On the daily chart, the 50-period MA is near 0.2895, while the 100- and 200-period MAs are still lower, suggesting the recent move is a short-term rally rather than a trend reversal.

MACD & RSI

The MACD crossed into positive territory in the early hours of 2025-08-03 and remains above the zero line, indicating bullish momentum. The histogram has been expanding, which aligns with the price breakout. RSI has climbed to 58, signaling moderate strength without overbought conditions. This suggests that while the move has gained traction, there is still room for further upward movement.

Bollinger Bands

Price has moved well above the upper Bollinger Band on several 15-minute intervals, especially during the late-night and early-morning hours. The bands have widened significantly, reflecting increased volatility. The 20-period standard deviation has expanded from ~0.0012 to ~0.0025, indicating a period of high price fluctuation. The current price is currently at the upper edge of the bands, which may signal a potential consolidation phase.

Volume & Turnover

Volume spiked sharply in the 24-hour period, with the largest 15-minute volume of 2.99 million seen on 2025-08-02 at 16:45 ET. The final 6 hours saw a 65% increase in average volume compared to the first 18 hours. Turnover has also increased in tandem, confirming the price action. No significant divergence between price and volume was observed, indicating strong conviction behind the upward move.

Fibonacci Retracements

Fibonacci levels drawn from the 0.2813 low to the 0.305 high show the price is currently at the 78.6% retracement level. This suggests that the current move has strong bearish resistance ahead. On the 15-minute chart, key retracement levels at 0.2934 and 0.2957 have been tested multiple times and appear to be forming as support/resistance clusters.

Sonic (SUSDT) appears to be consolidating after a strong rally, with key resistance at 0.305 and support at 0.2934. The next 24 hours could see a test of these levels, with the potential for a pullback or continuation depending on volume and order flow. Traders should remain cautious of a possible overextension, especially if RSI moves into overbought territory or if volume shows signs of tapering.