Summary
• Price formed a strong 5-minute bearish engulfing pattern at 0.0835, signaling possible near-term bearish momentum.
• Volatility expanded as Bollinger Bands widened past 0.084, with price trending closer to the 20-period lower band.
• Turnover surged during the 16:45–17:00 ET timeframe, coinciding with a sharp rally toward 0.0867.
• RSI crossed below 30 near 0.082, suggesting oversold conditions but lack of immediate bullish confirmation.
• Volume spiked 2.5x above average in the late-ET session, indicating strong short-term interest.
Sonic/Tether (SUSDT) opened at 0.0847, reached a high of 0.0869, and fell to a low of 0.0814, closing at 0.0863 as of 12:00 ET. The 24-hour volume totaled approximately 11.1 million units, with a notional turnover of $918,000.
Price Action and Structure
Price broke below key support at 0.083 before staging a late-ET rebound, forming a distinct V-bottom structure. A bearish engulfing pattern at 0.0835 suggested bearish exhaustion, but the recovery to 0.0863 hinted at re-emerging bullish momentum. The 0.0863 close held above the 50-period moving average, indicating short-term buyers are defending key levels.
Momentum and Indicators
MACD showed a narrowing histogram after 02:00 ET, suggesting weakening momentum in the downward phase. RSI hit oversold territory near 0.082 but failed to confirm a strong bounce, pointing to cautious sentiment. The late rally saw RSI recovering to mid-50s, indicating a potential shift in balance.
Volatility and Volume
Bollinger Bands widened during the early-ET selloff, with price testing the lower band at 0.082.
The 16:45–17:00 ET session saw a volume spike of 1.6 million units, coinciding with a sharp rally to 0.0867. This divergence between price and volume suggests potential short-covering or strategic buying pressure.
Forward-Looking Outlook
With price consolidating near 0.0863, the next 24 hours may see a test of the 0.0875–0.088 Fibonacci extension level from the recent low. Traders should monitor whether volume sustains the upward move or shows signs of exhaustion. A breakdown below 0.085 would re-introduce bearish bias, while a sustained close above 0.087 could signal a broader reversal.
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