Market Overview for Sonic/Tether (SUSDT) on 2026-01-16

Summary
• Price formed a bearish engulfing pattern near 0.0821, confirming a short-term reversal.
• Volatility expanded after 18:00 ET, pushing price to a 24-hour low of 0.0788.
• RSI hit oversold territory below 30 near 0.0794, suggesting potential short-term rebound.
• Bollinger Bands showed a modest contraction pre-16:00 ET before a sharp break lower.
• Turnover surged to $102.6k at 16:00 ET, aligning with the sharp price drop.

Sonic/Tether (SUSDT) opened at 0.0825 on 2026-01-15, peaked at 0.0832, and closed at 0.0794 by 12:00 ET on 2026-01-16, with a low of 0.0788. Total volume reached 9,865,518.0 with $806,279.1 in notional turnover over 24 hours.

Structure and Formations

Price formed a bearish engulfing pattern near 0.0821 after a brief rally, confirming bearish momentum. A sharp breakdown below 0.0806 at 16:00 ET signaled a shift in sentiment, with 0.0794 acting as a new short-term support level. No major bullish patterns emerged, though a bullish reversal could be expected near 0.0794–0.0800 if RSI remains in oversold conditions.

Indicators and Momentum

RSI hit 27 at 0.0794, signaling potential for a rebound but not a full reversal. MACD remained negative throughout the session, with a bearish crossover reinforcing the downward drift. The 20-period 5-minute EMA dipped below the 50-period line, adding to bearish bias.

Volatility and Bollinger Bands

Bollinger Bands showed a modest contraction before 16:00 ET, followed by a sharp break lower and expansion. Price remained well below the 20-period lower band for much of the session, suggesting a high-volatility leg down.

Volume and Turnover

Volume and turnover surged at 16:00 ET during the $102.6k notional session, confirming the breakdown to 0.0794. The move was supported by strong volume, but price failed to show follow-through above 0.0805 afterward.

Fibonacci Retracements

A 61.8% Fibonacci retracement of the 0.0821–0.0788 swing lies at 0.0801, which could offer support or trigger a short-term bounce. A test of this level or a rejection may indicate whether the bearish trend remains intact or if buyers are stepping in.

The next 24 hours may see a consolidation near 0.0794–0.0801 if RSI stabilizes, though a break below 0.0788 could extend the decline. Investors should watch for a failure to hold 0.0794 as a potential trigger for deeper downside.