Market Overview: Sophon/Tether (SOPHUSDT) on 2025-12-07

Summary
• Price moved from 0.01569 to 0.01592, forming key support and resistance levels on the 5-minute chart.
• A bullish breakout above 0.01595 was rejected, with a bearish engulfing pattern forming near session high.
• Volume spiked above 600,000 at 0.01602, confirming momentary strength before a pullback began.
• RSI entered overbought territory twice, signaling potential for a near-term consolidation or reversal.
• Volatility expanded during the 21:15–22:15 ET window, pushing price beyond Bollinger Band +1σ.

Sophon/Tether (SOPHUSDT) opened at 0.01569 on 2025-12-06 at 12:00 ET, hit a high of 0.01607, fell to a low of 0.01567, and closed at 0.01592 at 12:00 ET on 2025-12-07. The 24-hour volume reached 6,629,200 and turnover was approximately $104,757.

Structure & Formations

Price moved between key levels of 0.01567 (support) and 0.01607 (resistance), with a bearish engulfing pattern forming near the 0.01602–0.01605 range. A doji appeared at 0.01606, signaling indecision. A bullish 5-minute reversal pattern emerged near 0.01595, suggesting potential for a short-term rebound.

Moving Averages

On the 5-minute chart, the 20SMA and 50SMA crossed bearishly near 0.01591–0.01593. Daily MAs (50, 100, 200) remain largely flat, but the 200SMA appears to form a potential medium-term floor near 0.01585.

MACD & RSI

The 5-minute MACD line crossed bearishly after a brief bullish crossover, confirming fading momentum. RSI hit 72–75 on two occasions, entering overbought territory, and then declined below 55 by 06:00 ET, indicating bearish bias.

Bollinger Bands

Price traded above the +1σ Bollinger Band between 21:15–22:30 ET, then collapsed back below the centerline by 05:00 ET, signaling reduced volatility and a potential consolidation phase.

Volume & Turnover

Volume spiked to 600,000 at 0.01602, confirming a short-term high, while turnover remained in sync with volume. Divergence appeared at 0.01595, where volume waned despite a price rebound, suggesting weak follow-through.

Fibonacci Retracements

A 5-minute retracement from the 0.01607 high to the 0.01591 low shows 61.8% at 0.01597, where price stalled before pulling back. The daily chart shows a key 61.8% retracement near 0.01603, currently acting as a potential overhead ceiling.

Price appears to be consolidating below 0.01595 ahead of a potential test of 0.01603 in the next 24 hours. If the 0.01597 level holds, a continuation to 0.01585–0.01587 may follow. Investors should remain cautious of increased volatility if 0.01605 retests and fails again.