Summary
• Price declined from 0.0789 to 0.0753 over 24 hours amid a key breakdown below 0.0785 support.
• A bearish engulfing pattern formed near 0.0785, followed by a high-volume breakdown to 0.0767.
• RSI hit oversold levels, suggesting a potential bounce near 0.075–0.0755.
• Volatility expanded sharply after 20:00 ET with a massive volume spike of ~8.1M at 0.0784.
At 12:00 ET on 2025-12-21, Sonic/Tether (SUSDT) opened at 0.0785, reached a high of 0.0791, touched a low of 0.0742, and closed at 0.0753. Total volume was 10.03M, and turnover amounted to ~749.5.
Structure & Formations
A bearish engulfing pattern formed around 0.0785 on the 5-minute chart, signaling a shift in sentiment. Price then broke below the 0.0785 level with confirmation at 0.0767. A large 5-minute candle at 20:00 ET saw a massive 8.1M volume and a sharp drop from 0.0784 to 0.0767, marking a key structural breakdown.
Moving Averages
On the 5-minute chart, price has been below both the 20 and 50 EMA lines, reinforcing bearish momentum. Daily MA levels (50/100/200) remain untested but suggest further support could emerge near 0.074–0.075.
MACD & RSI
MACD turned negative after the breakdown at 20:00 ET, with bearish divergence evident. RSI fell into oversold territory near 25, suggesting a possible bounce in the near term. However, without a clear reversal pattern, this could be a false signal.
Bollinger Bands
Volatility expanded dramatically after 20:00 ET, with price trading near the lower Bollinger Band for several hours. The 5-minute band width widened significantly, indicating heightened uncertainty and increased short-term risk.
Volume & Turnover
Volume spiked sharply between 20:00 ET and 21:00 ET, coinciding with the breakdown to 0.0767. Turnover during that period exceeded the entire day’s volume of previous sessions, indicating heavy institutional or liquidation activity.
Fibonacci Retracements
On the 5-minute chart, key Fibonacci levels for the 0.0789–0.0767 swing are at 0.0776 (38.2%) and 0.0771 (61.8%). A rebound off the 0.075 level may test these levels before any meaningful bullish move is confirmed.
Looking ahead, a short-term bounce toward 0.076–0.0765 could test the 0.0771 Fibonacci level, but a close above 0.0775 would be needed for any bearish correction to be considered complete. Investors should remain cautious of further downside risk into the 0.074–0.075 zone and consider setting stop-loss levels near 0.074.
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