Market Overview for Sonic/Tether (SUSDT) – 2025-10-08 24-Hour Report

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• Sonic/Tether (SUSDT) traded in a 24-hour range of $0.2793–$0.3075, closing near key support at $0.2941.• A sharp sell-off in the afternoon ET saw price fall 8.7% to $0.2842, triggering increased volatility and divergent volume.• RSI hit oversold territory, and MACD turned negative, suggesting possible near-term exhaustion on the bear side.• Bollinger Bands expanded significantly during the selloff, with price closing near the lower band.• The largest single-candle drop occurred at 13:30 ET, with a low of $0.2830 and volume spiking to 6.5M.

At 12:00 ET on 2025-10-08, Sonic/Tether (SUSDT) opened at $0.2941, traded to a high of $0.3075 and a low of $0.2793 before closing at $0.2941. Total volume reached 30.3 million, with notional turnover totaling $8.6 million.

The 24-hour period revealed a sharp bearish reversal after an earlier consolidation phase, driven by a significant bearish candle at 13:30 ET that gapped down to $0.2830. Price has since stabilized near the 20-period 15-minute moving average, suggesting potential support. The 50-period moving average currently resides above the 20-period line, indicating a bearish bias in the short term.

Structure & Formations

A large bearish engulfing pattern formed at 13:30 ET, confirming a shift in sentiment. Key support levels are emerging at $0.2925 and $0.2890, with $0.2850 serving as a critical near-term stop. A bullish reversal pattern may form if price closes above $0.2975, aligning with the 38.2% Fibonacci retracement from the recent high.

Moving Averages

On the 15-minute chart, the 20-period MA provided short-term support, while the 50-period MA remains above the price. On the daily chart, the 50-period MA is near $0.2990, while the 200-period MA sits at $0.2940. These suggest a neutral to bearish setup unless a strong bullish reversal occurs above the 100-period MA at $0.2965.

MACD & RSI

RSI reached oversold levels at 28 during the selloff, hinting at a potential bounce. MACD turned bearish, crossing below the signal line with a bearish divergence. A closing above $0.2970 could trigger a reversal in RSI and potentially bring MACD back into positive territory.

Bollinger Bands

Volatility expanded during the sharp selloff, with price closing near the lower Bollinger Band at $0.2890. The bands are likely to contract as price consolidates, offering a potential opportunity for a bounce if support at $0.2925 holds.

Volume & Turnover

Volume surged during the 13:30 ET candle, confirming the bearish breakdown. Notional turnover spiked to $1.8 million during this period. Price and turnover aligned in a bearish divergence during the sell-off, but volume has since declined, suggesting waning bearish momentum.

Fibonacci Retracements

The 38.2% and 61.8% retracements from the high of $0.3075 sit at $0.3000 and $0.2955, respectively. Price is currently consolidating near $0.2941, which is slightly below the 61.8% level, setting up potential for a short-term bounce if buyers step in.

Backtest Hypothesis

A potential backtesting strategy could involve entering a short position on a confirmed break of the lower Bollinger Band with volume above 1 million, and exiting on a close above the 38.2% Fibonacci level. The RSI at 28 during the selloff provides an additional confirmation for a short entry, while the 50-period moving average offers a potential trailing stop target. This strategy aligns with the current technical landscape and may offer a favorable risk-reward profile if price remains below $0.2975 for at least 48 hours.