Summary
• Price consolidated around $0.075 after forming a bullish engulfing pattern at 23:15 ET.
• Momentum waned in RSI with a reading near 50, suggesting neutral to mixed near-term bias.
• Volatility remained moderate, with Bollinger Bands narrowing slightly into the final hour.
• Turnover surged at 22:30 ET as price rebounded off 0.0745 support, confirming a short-term bounce.
• Key Fibonacci level at 0.0752 appears to have held as a dynamic support for most of the session.
At 12:00 ET on 2025-12-22, Sonic/Tether (SUSDT) opened at $0.0751, hit a high of $0.0760, and a low of $0.0741, closing at $0.0755. Total volume over the 24-hour window was 9.58 million units, with notional turnover reaching $737,831.
Structure & Candlestick Patterns
Price action on the 5-minute chart displayed a key bullish engulfing pattern at 23:15 ET, as the price surged from $0.0756 open to $0.0759 close, signaling a short-term reversal.
A doji formed at 23:45 ET near the top of the recent consolidation range, hinting at indecision in the final stages.
Trend and Moving Averages
The 20-period and 50-period moving averages on the 5-minute chart remained in a close proximity, with the price oscillating between them for much of the session. On the daily chart, the 50-period SMA appears to be a key support level at $0.0749, with the 200-period SMA suggesting a longer-term neutral bias.
MACD and RSI
MACD showed mixed signals with the histogram narrowing into the final hour, indicating a slowdown in momentum. RSI hovered near the neutral 50 level, suggesting neither overbought nor oversold conditions, though a potential bearish divergence may form if price breaks below 0.0750 without confirmation in volume.
Bollinger Bands and Volatility
Volatility remained moderate throughout the session, with price staying within the Bollinger Bands for the majority of the time. A slight contraction in the bands occurred between 21:00 ET and 22:00 ET, followed by a small expansion at 22:30 ET as volume spiked and price rebounded off the lower band.
Volume and Turnover
Volume showed a distinct spike at 22:30 ET, coinciding with a 0.0745 support bounce and the start of a 0.0751 retest. Turnover confirmed this move, suggesting strong conviction behind the rebound. However, volume declined in the final two hours, pointing to a possible consolidation phase ahead.
Fibonacci Retracements
Fibonacci retracement levels applied to the swing from 0.0741 to 0.0760 showed key levels at 0.0752 (38.2%) and 0.0757 (61.8%). Price held above 0.0752 for much of the session, reinforcing it as a critical support. A break below that level could lead to a retest of 0.0745 in the next 24 hours.
The market appears to be consolidating within a $0.0019 range after a key bullish reversal pattern and confirmed bounce off key support. While short-term momentum appears to favor buyers, the lack of a clear breakout suggests sideways movement could persist. Investors should remain cautious of a potential break below $0.0750, which could reignite selling pressure.
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