Market Overview: Sonic (SUSDT) 24-Hour Technical Summary

• Sonic (SUSDT) closed 0.3342 at 12:00 ET, down 0.30% from open, with a 24-hour high of 0.3411 and low of 0.3283.
• A bearish engulfing pattern formed at 0.3365–0.3386 on July 26, suggesting short-term bearish momentum.
• Volatility expanded during the 22:00–03:00 ET window, with a 15-minute range of 0.336–0.3421.
• RSI fell to 38.2% Fibonacci support at 0.3327, hinting at potential oversold conditions.
• Turnover spiked to $3.1M at 0.3321 on July 27, aligning with a key support level.

Sonic (SUSDT) opened at 0.3343 at 12:00 ET − 1 and closed at 0.3342 at 12:00 ET, with a 24-hour high of 0.3411 and a low of 0.3283. Total volume amounted to 30.6 million, and turnover reached approximately $10.2 million.

Structure & Formations

Sonic’s 15-minute chart shows a bearish engulfing pattern forming near 0.3365–0.3386 during the early hours of July 26, indicating a shift in sentiment from bullish to bearish. A key support level appears to have formed at 0.3327–0.3332, coinciding with the 38.2% Fibonacci retracement level of the previous upward swing. A potential resistance zone lies between 0.3360 and 0.3380, where multiple failed attempts to break higher occurred.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have converged near 0.3350–0.3360, acting as a short-term pivot. On the daily chart, the 50-period MA sits at 0.3370, above the 200-period MA at 0.3340, suggesting a mixed bias between medium-term bullish and long-term bearish tendencies.

MACD & RSI

The 15-minute MACD line crossed below the signal line during the 03:00–04:00 ET window, confirming bearish momentum. RSI dipped to 33 during the 09:15–09:30 ET window, nearing oversold territory, but failed to trigger a strong rebound. The combination of diverging price and RSI suggests potential for a short-term bounce, though bearish pressure remains dominant.

Bollinger Bands

Volatility expanded during the 22:00–03:00 ET window, with the 20-period Bollinger Bands widening from 0.336–0.3421. Price briefly touched the upper band during this period before retreating, indicating a failed attempt to break higher. The recent consolidation suggests a potential for a contraction in volatility, which may precede a breakout or breakdown.

Volume & Turnover

Volume spiked to over 3.1 million at 0.3321 on July 27, coinciding with a key support level and a sharp drop in price. This suggests increased selling pressure at that level. However, the price bounced off this level, indicating some buying interest. Notional turnover also spiked during this period, confirming the significance of the support zone. A divergence between rising price and falling volume was observed during the 07:00–09:00 ET window, suggesting weakening bullish momentum.

Fibonacci Retracements

The 38.2% and 61.8% Fibonacci levels of the July 26–27 move sit at 0.3327 and 0.3315, respectively. Price has found support at the 38.2% level, but failed to hold at the 61.8% level during a brief test in the early morning hours. These levels may serve as key decision points for the next 24 hours.

Sonic (SUSDT) appears to be consolidating near key support at 0.3327, with bearish momentum still intact. A break below this level could trigger further declines toward 0.3315–0.3300, while a rebound above 0.3360 may reinvigorate bulls. Investors should remain cautious, as volatility and divergence in volume may signal a potential reversal or continuation.