Market Overview for Sophon/Tether (SOPHUSDT) - 24-Hour Technical Summary

• SOPHUSDT traded with choppy momentum after a 15-minute high of $0.03185 and a low of $0.03059, closing near $0.03137.
• Volatility expanded during the NY session, with a 0.23% price move and sharp volume spikes above $2.0M in notional turnover.
• A bullish engulfing pattern emerged after 14:30 ET, aligning with a 61.8% Fibonacci retracement level near $0.03148.
• RSI showed moderate oversold conditions, but momentum remains weak with MACD below the signal line.
• Bollinger Bands widened as price tested the upper band at $0.03185 and bounced toward the middle band.

Sophon/Tether (SOPHUSDT) opened at $0.03109 on 2025-09-20 12:00 ET, reaching a high of $0.03185, a low of $0.03059, and closing at $0.03137 by 2025-09-21 12:00 ET. Total volume for the 24-hour window was 16,756,317.0, with a notional turnover of approximately $524,028. The asset displayed elevated volatility and mixed directional signals.

The 20-period and 50-period moving averages on the 15-minute chart intersected near $0.03107–$0.03115, signaling potential for a short-term reversal or consolidation. A key support level emerged around $0.03082–$0.03085, where price found repeated buying interest and formed a bullish harami pattern. Resistance was observed near $0.03128–$0.03135, where several attempts to break higher were met with selling pressure and bearish spinning tops.

RSI fluctuated between 33 and 55, indicating moderately oversold to neutral conditions, though it failed to surpass 58, suggesting weak bullish conviction. MACD remained below the signal line, with a bearish divergence forming after the afternoon high, reinforcing caution about short-term momentum. Volatility was notably higher in the NY and London sessions, with Bollinger Bands expanding and price testing the upper band before retracting toward the middle band.

Volume and turnover spiked during price declines below $0.03105 and surged again during the late ET push toward $0.03185, suggesting a tug-of-war between buyers and sellers. A 61.8% Fibonacci retracement of the $0.03059–$0.03185 swing aligned with key support at $0.03137, where price closed. This suggests potential for consolidation or a short-term reversal if buyers commit above that level.

Backtest Hypothesis
The backtest strategy involves a long entry on a bullish engulfing pattern confirmed by a RSI crossover above 40 and a close above the 20-period moving average, with a stop-loss below the recent swing low. Given the 61.8% Fibonacci retracement and current RSI alignment, a potential entry could be triggered if price holds above $0.03137 and closes above $0.0314.