Market Overview for Sophon/Tether (SOPHUSDT) on 2025-10-30

• Sophon/Tether (SOPHUSDT) closed 1.07% lower at 0.02443, with a 24-hour high of 0.02626 and low of 0.02416.
• A large bearish candle formed after 18:45 ET, closing at 0.02512 with heavy volume (24.64 million USDT).
• Volatility expanded midday, with a 15-minute range of 0.00045, but momentum weakened in the final 6 hours.
• Volume surged early, peaking at 24.64 million USDT, but sharply declined after 04:30 ET.
• RSI and MACD not yet computed due to missing RSI data; key support at 0.02423 and resistance at 0.02537.

Sophon/Tether (SOPHUSDT) opened at 0.02612 on 2025-10-29 at 12:00 ET and closed at 0.02443 on 2025-10-30 at 12:00 ET, recording a 24-hour high of 0.02626 and low of 0.02416. The pair saw a total traded volume of 126.48 million USDT, with a notional turnover (price × volume) of approximately 3.29 million USDT. The session was marked by a sharp bearish reversal in the afternoon and a prolonged period of consolidation.

Structure & Formations

Price action over the last 24 hours revealed a key bearish engulfing pattern at 18:45 ET, where price opened at 0.02605 and closed at 0.02512—a 0.41% drop. This was the largest single-candle bearish move of the session. A significant support level appears to have formed around 0.02423–0.02443, where price found a floor in the final candle. The resistance zone at 0.02537–0.02555 appears strong, with price failing to retest it in the final hours. A doji formed at 21:45 ET, suggesting indecision, but was followed by a sustained downtrend.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed bearishly (death cross) around 19:30 ET, confirming the downward shift. The 50-period MA remained above the 100 and 200-period lines for the daily timeframe, indicating a long-term bearish bias. Price closed below all three MAs, reinforcing the bearish sentiment.

Volatility & Bollinger Bands

Volatility expanded significantly between 16:00–18:30 ET, with a 15-minute range of 0.00045. Price broke below the lower Bollinger Band at 18:45 ET and remained well below the 20-period BB for the next 4.5 hours, indicating oversold pressure. A mild contraction in volatility occurred post 04:30 ET, but price failed to retrace toward the middle band, signaling weak momentum.

Volume & Turnover

Volume spiked to 24.64 million USDT at 18:45 ET, confirming the large bearish move. However, the next 5 hours saw a sharp decline in volume to below 1 million USDT, highlighting a lack of follow-through. Turnover followed a similar trend, with the largest spike occurring during the same candle. The divergence between volume and price during the final 6 hours suggests waning bearish conviction.

Backtest Hypothesis

Given the strong bearish momentum and potential oversold conditions observed in the 15-minute chart, a backtest using RSI could provide valuable insight. A 14-day RSI with a conventional oversold threshold of 30 may help identify potential buying opportunities or confirm a bearish continuation. To proceed, we will need confirmation that the correct ticker symbol is indeed SOPHUSDT. Additionally, applying risk controls such as a 5% stop-loss and a 10% take-profit target would help manage exposure during testing. If you confirm the details, I will retrieve the RSI data and run the backtest from 2022-01-01 to today.