Market Overview: Sophon/Tether (SOPHUSDT) 24-Hour Analysis

Summary• Sophon/Tether (SOPHUSDT) opened at $0.02328, reached $0.02386, and closed at $0.02363 with a 24-hour volume of 18.29M.• Price formed bullish patterns and saw momentum build in the early session before consolidating midday.• Volatility increased post-ET, with price trading above mid-range Bollinger Bands for much of the period.

Price Action and Structure

Sophon/Tether (SOPHUSDT) opened at $0.02328 on 2025-11-09 at 17:00 ET and closed at $0.02363 on 2025-11-10 at 12:00 ET. The pair reached a high of $0.02386 and a low of $0.02304, forming a broad trading range. A strong bullish reversal pattern emerged after the 00:30 ET candle, as price surged from $0.02362 to $0.02369 amid high volume. Key support levels appear around $0.0234 and $0.0231, while resistance is seen at $0.0237 and $0.02385.

Candlestick Formations

The early part of the session featured a bearish trend, with a long bearish shadow in the 17:30–18:00 ET candle. This was followed by a bullish engulfing pattern in the 19:30–19:45 ET candles, which signaled a potential trend reversal. The 00:30–00:45 ET candles confirmed this with a strong move above prior resistance levels.

Technical Indicators

On the 15-minute chart, the 20-period and 50-period moving averages were closely aligned, indicating a consolidating price pattern. The 50-period MA acted as a dynamic support line, with price bouncing off it multiple times. The MACD crossed above the signal line in the early hours, suggesting bullish momentum. RSI moved into overbought territory (above 60) after 00:30 ET, indicating a potential pause in upward momentum.

Bollinger Bands expanded in the morning session, with prices trading near the upper band between 00:30 and 02:00 ET, signaling a period of high volatility. The bands contracted again in the latter half of the session, suggesting a potential return to consolidation.

Volume and Turnover

Volume was concentrated in the early morning and late-night ET hours, with the most significant 15-minute volume of 4.456 million observed in the 10:45–11:00 ET candle. Notional turnover mirrored the volume spikes, with the largest trade value occurring in the same time frame. Price and volume actions showed strong alignment during the reversal candles, confirming the bullish breakout.

Fibonacci Retracements

Applying Fibonacci retracement levels to the key swing low at $0.02307 and swing high at $0.02386, price retraced to the 61.8% level ($0.02344) in the morning before bouncing. The 50% retracement level at $0.02346 also saw strong support in the late session. On a daily chart, the 38.2% retracement of the previous day’s range acted as a key level of resistance and support.

Backtest Hypothesis

The provided backtesting strategy, based on a Bullish-Engulfing candlestick pattern, demonstrated a total return of 12.67% with an annualized return of 18.99%. This aligns with the observed price behavior in SOPHUSDT, particularly during the early morning ET reversal candles. The strategy’s relatively low drawdown of 6.55% and Sharpe ratio of 1.43 suggests it is well-suited for a market like Sophon/Tether, where clear trend reversals often occur on high-volume signals. The absence of stop-loss or take-profit parameters allows for pure signal-based exits, making it ideal for a market showing strong reversal tendencies as seen in the recent price action.

Outlook and Risk Consideration

Looking ahead, the next 24 hours could see a continuation of the bullish trend if key resistance levels at $0.0237 and $0.0238 are tested and held. However, traders should remain cautious, as RSI’s overbought readings suggest a potential pullback or consolidation. A break below $0.0234 could signal renewed bearish pressure, so monitoring volume and turnover for divergence will be key.