Market Overview for Sonic/Tether USDt (SUSDT): 24-Hour Price Action Summary

• Sonic/Tether USDt declined through the 24-hour period, forming a bearish bias with key support at 0.3003.
• Volume surged in early morning ET, confirming the breakdown but showed divergence in final hours.
• RSI moved into oversold territory, while MACD turned bearish, signaling potential consolidation ahead.
• Price remained compressed within Bollinger Bands, with a contraction in volatility toward the closing hours.
• Fibonacci levels suggest a possible bounce from 0.3003, but a break below this could accelerate the downtrend.

The Sonic/Tether USDt (SUSDT) pair opened at 0.3058 on 2025-09-05 12:00 ET, hit a high of 0.3069 and a low of 0.3003, closing at 0.3006 on 2025-09-06 12:00 ET. Total volume over the 24-hour period was 35,718,633.8, with a notional turnover of approximately 10,908,235.8 USD. The pair displayed a clear bearish bias amid strong early selling pressure.

Structure & Formations

The 24-hour candlestick pattern showed a strong bearish slant, with price failing to retest key resistance levels above 0.3064. A bearish engulfing pattern occurred near 0.3051, confirming a shift in sentiment. Toward the end of the period, a doji formed at 0.3006, indicating indecision. The 0.3003 level served as immediate support, with a potential bounce expected if buyers re-enter the market.

Key Resistance and Support

- Resistance: 0.3053, 0.3064, 0.3069
- Support: 0.3036, 0.3023, 0.3003

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended lower, reinforcing the bearish momentum. Price closed below both, suggesting continued selling pressure. On the daily chart, the 50 and 200-period moving averages are not provided, but based on the 24-hour swing, the long-term trend remains bearish.

MACD & RSI

MACD turned bearish in the final hours of the session, with both the line and signal falling below zero. This indicated a loss in bullish momentum. RSI dipped below 30 into the oversold zone, suggesting the potential for a near-term bounce. However, without a strong reversal pattern, the bearish bias could persist.

Bollinger Bands

The Bollinger Bands displayed a period of contraction in the late hours of the session, suggesting a low-volatility environment. Price remained near the lower band, indicating a possible short-term bounce. However, a break below the 0.3003 level could trigger further expansion and downward volatility.

Volume & Turnover

Volume spiked early in the session, particularly during the breakdown from 0.3064 to 0.3049, confirming the bearish move. However, in the final hours, volume decreased while price continued lower, indicating a divergence. This divergence may suggest reduced conviction in the current downtrend and a potential reversal ahead.

Fibonacci Retracements

Applying Fibonacci levels to the 0.3069 to 0.3003 swing, key levels include 0.3051 (23.6%), 0.3037 (38.2%), and 0.3023 (61.8%). Price is now near the 0.3003 level, suggesting a potential bounce if buyers defend this level. A break below 0.3003 would target 0.2989, with further downside dependent on volume and follow-through selling.

Backtest Hypothesis

A potential backtesting strategy could focus on shorting at key Fibonacci levels below the 0.3023 threshold with a stop-loss above 0.3064. Alternatively, a long setup could be tested near the 0.3003 support level, using a bullish reversal pattern for entry. Combining RSI divergence and volume contraction might improve the accuracy of these signals.