Market Overview for Sonic/Tether (SUSDT) on 2025-11-07

Summary
• Sonic/Tether (SUSDT) traded in a 1.66% range today, showing a 0.74% gain into the close with above-average volume.
• Momentum remains constructive with RSI at 58 and MACD positive; volatility is moderate.
• A key 0.1290 support and 0.1335 resistance level were tested during the session.

The 24-hour period for Sonic/Tether (SUSDT) opened at 0.1197, reached a high of 0.1485, and closed at 0.1446 at 12:00 ET. Total volume amounted to 58,514,765.8, with a notional turnover of $8,158,951.6. Price action was dynamic, particularly in the afternoon, driven by a sharp bullish move from 0.1325 to 0.1485, suggesting potential short-term buying interest.

Structure & Formations

Price tested a key support at 0.1290 and then surged past 0.1325 and 0.1395, forming a bullish continuation pattern. A strong bullish engulfing pattern was observed between 0.1354 and 0.1425. The session closed with a long upper wick, indicating minor resistance at 0.1485.

Moving Averages

On the 15-minute chart, price closed above the 20SMA (0.1382) and 50SMA (0.1372), suggesting a short-term bullish tilt. On the daily chart, the 50DMA (0.1281), 100DMA (0.1268), and 200DMA (0.1250) are well below current price, reinforcing a longer-term bullish backdrop.

MACD & RSI

The 15-minute MACD turned positive with a bullish crossover, showing strengthening momentum. RSI rose to 58, avoiding overbought territory (typically 70) but indicating a constructive bias. Both indicators suggest that upward pressure is increasing, though caution is warranted before 0.1500.

Bollinger Bands

Price broke out of a narrow Bollinger Band contraction around 0.1325, expanding the channel. Currently, it sits near the upper band (0.1490), suggesting elevated volatility and potential for a pullback toward the midline (0.1435) or the lower band.

Volume & Turnover

Volume spiked significantly in the 16:00–17:00 ET window, coinciding with the breakout above 0.1425. Notional turnover was in line with the volume surge, providing confirmation that the move was driven by genuine accumulation.

Fibonacci Retracements

Applying Fibonacci to the 0.1290 to 0.1485 swing, key levels include 0.1370 (38.2%) and 0.1415 (61.8%). Price is now testing the 0.1435–0.1445 region, which may mark a potential consolidation phase.

Backtest Hypothesis

Given the recent bullish engulfing pattern and above-average volume confirmation, a backtest for the Bullish-Engulfing pattern on Sonic/Tether (SUSDT) could be valuable. This would involve identifying historical instances of the pattern and assessing a 1-day hold strategy. However, due to the lack of historical data for this specific asset in the provided period, no definitive backtest can be conducted. If the pattern is confirmed and repeatable, the strategy may yield positive returns in a trending environment.

A candlestick chart of Sonic/Tether (SUSDT) would show a bullish breakout above 0.1425, with volume spiking in the 16:00–17:00 ET window. A line overlay of the 20SMA and 50SMA on the 15-minute chart would highlight the price’s movement above both indicators. RSI and MACD indicators would appear in a bullish crossover, supporting the positive momentum.

A Bollinger Band plot on a 15-minute chart would show the price breaking out of a contraction around 0.1325, with the current price near the upper band (0.1490). A Fibonacci retracement tool applied to the 0.1290–0.1485 range would display key levels at 0.1370 (38.2%) and 0.1415 (61.8%). Volume bars would show a sharp increase in the late afternoon, correlating with the bullish breakout.