Market Overview for Sonic/Tether (SUSDT) on 2025-10-03

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• Sonic/Tether (SUSDT) traded in a volatile 24-hour range, opening at $0.2784 and closing at $0.2854 with a high of $0.2867.
• Price action showed a bullish reversal after hitting key support levels, suggesting short-term buying interest.
• Volatility expanded during the session, with a notable increase in turnover as prices approached resistance.
• RSI indicated overbought conditions during the late session, hinting at potential pullbacks.
• Volume spiked during key price moves, especially after the 10:00 ET breakout, reinforcing the strength of the move.

Sonic/Tether (SUSDT) opened at $0.2784 on 2025-10-02 at 12:00 ET and closed the 24-hour period at $0.2854 by 12:00 ET on 2025-10-03. The pair reached a high of $0.2867 and a low of $0.2743, with a total volume of 54,713,767.3 and a notional turnover of $15,393,264.62.

Price action during the session was driven by a key breakout in the early morning hours, where the pair surged past a descending channel and tested a critical resistance at $0.2850. A bullish engulfing pattern emerged at this level, followed by a strong positive candle confirming the reversal. On the downside, the pair found support at $0.2770 and $0.2740, with tight consolidation forming a potential base for a new uptrend.

The 20-period and 50-period moving averages on the 15-minute chart crossed above the price during the breakout, confirming a shift in momentum. RSI reached overbought territory multiple times, peaking at 78 near the session high, while the MACD histogram widened, indicating growing bullish momentum. Bollinger Bands displayed a clear expansion during the breakout, with the price touching the upper band at the close.

Volume surged during key price levels, especially as SUSDT approached resistance and during the consolidation phase. Notional turnover aligned with volume, reinforcing the legitimacy of the move. Fibonacci retracements suggested that the 61.8% level at $0.2850 was a critical target, and the price met this level with a strong close.

Backtest Hypothesis:

The backtesting strategy described focuses on a breakout and reversal system based on key Fibonacci retracements and candlestick patterns, such as bullish engulfing and doji. It suggests entering long positions upon a confirmed breakout of the 61.8% Fibonacci level, with a stop loss just below the previous consolidation zone. Based on today's action, the breakout was confirmed with strong volume and momentum, aligning well with the strategy’s parameters. A trailing stop could now be initiated as the price consolidates near the upper band of Bollinger Bands.

Over the next 24 hours, SUSDT may test the $0.2860–$0.2870 range, with a potential pullback to the 50-period moving average for confirmation. However, overbought conditions and divergences in RSI could trigger a short-term correction. Investors should monitor volume during these moves to assess strength. As always, price action can be volatile and subject to rapid shifts.