Market Overview: Sonic/Tether (SUSDT) 24-Hour Analysis

• Price surged from 0.2978 to 0.3148 before retreating to 0.3118, showing strong intraday momentum.
• High trading volume clustered around key support/resistance levels, indicating active price discovery.
• RSI suggests overbought conditions at 61.8% Fib level, signaling potential reversal risk.
• Bollinger Band contraction in late hours suggests volatility may expand in the short term.
• Divergences between volume and price in late ET hours hint at possible near-term consolidation.

Sonic/Tether (SUSDT) opened at 0.2978 on 2025-09-17 at 12:00 ET, reached a high of 0.3148, and closed at 0.3118 on 2025-09-18 at 12:00 ET. The pair traded within a 0.2976–0.3148 range, with a total trading volume of 76,316,164.16 and a notional turnover of 23,378,666.76. The 24-hour session was marked by a sharp rebound after mid-session consolidation.

Structure & Formations

The candlestick structure shows a distinct bearish reversal pattern following an aggressive bull move. A strong bullish impulse from 0.2978 to 0.3148 was met with increasing bear pressure, forming a potential top reversal candle around the 0.3148 high. Notable support levels include 0.3081 and 0.3054, with resistance at 0.3106, 0.3122, and 0.3148. A hanging man pattern emerged around 0.3148, indicating caution, while a bullish engulfing pattern at 0.308–0.3099 suggests retesting of key support could trigger a rebound.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed during the morning ET session, signaling a bullish crossover that coincided with the breakout from 0.3091 to 0.3148. However, the 50-period MA began to diverge from the 20-period MA in the afternoon, hinting at a weakening of the bullish impulse. On the daily chart, the 50-period MA (0.3076) remains above the 100-period (0.3054) and 200-period (0.3041), indicating the longer-term bias is still marginally bullish, though support at 0.3054 could soon become a test.

MACD & RSI

The MACD turned negative in the afternoon ET session after a strong positive divergence earlier in the day, confirming a slowdown in bullish momentum. The RSI peaked at 68, suggesting the market approached overbought territory, particularly after hitting the 0.3148 level. This, combined with bearish divergence between price and RSI, may signal a near-term pullback. RSI is now at 64, indicating that while overbought conditions persist, the immediate risk of a sharp reversal has slightly receded.

Bollinger Bands

Bollinger Bands showed significant expansion during the morning ET bull surge, reaching a width of 0.0157 at 0.3148, followed by a slight contraction in the late ET session as price settled near the mid-band. This suggests volatility is stabilizing, but the recent expansion indicates traders are becoming more active and the market may see renewed swings if a breakout occurs. Price remains above the 20-period moving average, suggesting that the upper band could act as a dynamic resistance level.

Volume & Turnover

Trading volume spiked sharply during the bull surge from 0.3081 to 0.3148, peaking at 4,405,376.2. Turnover also increased significantly in this phase, with a peak of 1,473,700.0. However, as price approached 0.3148, volume began to wane, and turnover declined, suggesting a lack of follow-through buying. The divergence between volume and price in the latter half of the session may signal a potential top formation, especially if volume fails to pick up during any subsequent attempts to push above 0.3148.

Fibonacci Retracements

Fibonacci levels on the 15-minute chart suggest key retracement levels at 0.3106 (38.2%), 0.3089 (50%), and 0.3072 (61.8%). Price found support at 0.3089 before rebounding toward 0.3106. On the daily chart, the 61.8% retracement level sits at 0.3099, and the 38.2% level is at 0.3129. If price breaks below 0.3072 (61.8%), a deeper correction toward 0.3049 (daily 61.8% Fib) may be expected.

Backtest Hypothesis

A potential backtesting strategy could involve using the 20-period moving average as a dynamic support line and the RSI as a momentum filter. For example, a long entry could be triggered when price closes above the 20-period MA and RSI breaks above 50, with a stop-loss placed below the most recent swing low. A short entry could be triggered when price closes below the 50-period MA and RSI drops below 50, with a stop-loss above the most recent swing high. This approach aligns with the observed structure of the 15-minute chart and could capture the aggressive bull and bear moves seen in this 24-hour window.