Market Overview for Sonic/Tether (SUSDT) – 2025-11-09

• Sonic/Tether (SUSDT) closed lower at 0.1591 after a volatile 24-hour session.
• Price swung between 0.1663 and 0.1514, with increased volume in early trading.
• Overbought conditions in RSI early morning preceded a sharp pullback.
• Bollinger Bands showed volatility expansion as price drifted toward the lower band.
• A volume spike at 0.1575 did not confirm a bullish breakout.

The Sonic/Tether pair (SUSDT) opened at 0.1659 on 2025-11-08 at 12:00 ET, reaching a high of 0.1663 and a low of 0.1514 before closing at 0.1591 as of 2025-11-09 at 12:00 ET. Total trading volume for the 24-hour period was approximately 79,148,693.7 units, with total turnover amounting to $12,451,382 (based on Tether value). The price action showed a bearish divergence, with volume increasing during key declines and waning during attempted rebounds.

On the 15-minute chart, the 20-period and 50-period moving averages have diverged slightly, with price hovering below the 20 MA in the last 4–5 candles. The 50-period MA remains above the 20-period, indicating moderate bearish bias in the short-term trend. Daily moving averages, including the 50, 100, and 200-period lines, are not fully visible due to the 15-minute granularity, but price remains below the 50-day MA, suggesting a continuation of bearish momentum may be possible in the next 24 hours.

The MACD has crossed below the signal line and remains negative, reinforcing the bearish bias. RSI is currently in neutral territory but approached oversold levels around 30 at 0.1514, failing to trigger a meaningful rebound. Bollinger Bands have widened from a mid-session contraction, indicating rising volatility and a potential continuation of the downward trend. Price remains near the lower band, suggesting further bearish movement could occur unless a strong reversal candle forms.

The Fibonacci retracement levels from the key high of 0.1663 and low of 0.1514 show 0.1591 aligning with the 61.8% retracement level. This suggests a potential support area may hold if the trend continues. However, divergence in volume during the 0.16–0.161 range indicates weak conviction in any upward bounce. A break below 0.1514 may target the next Fibonacci level at 0.1448, though this is speculative.

Backtest Hypothesis

The proposed backtesting strategy relies on the identification of a Bullish Engulfing candlestick pattern as a buy signal, followed by a 3-day holding period. However, no such patterns were detected for the ticker in question during the current data window. A re-evaluation of the ticker symbol or the inclusion of a broader universe may be necessary to validate the strategy. If the ticker remains unchanged, confirmation of the exact exchange-qualified symbol is required. Additionally, the exit rule (holding 3 trading days and exiting at close) appears consistent with the data structure, but performance should be benchmarked against a relevant ETF or index such as HOLD.P to assess strategy effectiveness.