Market Overview for SUI on 2025-09-03

• SUIUSD rallied from a low of $3.2144 to a high of $3.3704 over 24 hours, ending near the session high.
• Strong momentum in the final 3 hours lifted price 1.6% from a consolidation phase.
• Volatility expanded mid-day with a 6.4% intraday range, driven by increased volume.
• RSI surged into overbought territory in the last 15-minute bar.
• Bollinger Bands showed a contraction into the early hours, followed by a break-out.

At 12:00 ET on 2025-09-03, SUIUSD opened at $3.2144 and closed at $3.3689, reaching a high of $3.3704 and a low of $3.2144. Total trading volume was 6,277.2 units, with a notional turnover of $20,362.52 USD. The 24-hour period featured notable price expansion and volume surges in the afternoon.

Structure & Formations

The 15-minute chart revealed a key support level around $3.2144, tested twice in the early morning and held. The afternoon saw a bullish engulfing pattern from 17:45 to 18:00 ET, followed by a continuation rally. A large-bodied bullish candle emerged at 22:30 ET, closing at $3.3037 and acting as a pivotal turning point. Later, a sharp move from $3.2925 to $3.3333 in the early hours of 12:15 ET confirmed renewed buying interest. A final bullish breakout at $3.338 and $3.3704 in the last 3 candles capped off the session with momentum favoring the bulls.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs were clearly out of sync, with the price decisively above both in the final hours of the session. The 50-period line remained a strong support in the early morning, and the 20-period line crossed above the 50-period line during the late afternoon, signaling a bullish crossover. For daily analysis, the 50-day SMA is currently at $3.28, suggesting the price has moved into a positive territory above this level.

MACD & RSI

The MACD crossed above the signal line in the late afternoon, confirming the strength of the rally. The histogram showed increasing bullish momentum in the final hour of the session. RSI reached a peak of 68 in the last candle, nearing overbought territory (70), which suggests a potential pullback may occur. However, RSI remains in a bullish phase from early morning lows of 45, indicating strong momentum for the longs.

Bollinger Bands

Bollinger Bands experienced a notable contraction from 1:00 to 3:00 ET as the market entered a consolidation phase, with price oscillating within a tight range. A breakout occurred at 10:15 ET, with the price moving decisively above the upper band and closing near the upper limit at the end of the session. This suggests increasing volatility and potential continuation of the upward trend.

Volume & Turnover

The largest volume spike occurred at 14:30 ET, where 3,079.4 units traded at $3.3704, confirming the upper level. Another notable volume spike occurred at 22:30 ET, with a 164.3-unit candle. Price and turnover aligned in the afternoon, with volume increasing in tandem with the price rally. However, in the morning, volume remained thin despite price consolidation, suggesting limited conviction in the lower range.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from $3.2144 to $3.3704, the price reached the 61.8% retracement level ($3.338) during the 13:00 candle and continued to $3.3704. On a daily chart, the current rally is sitting near the 38.2% retracement level of a broader bearish wave, suggesting further upside may be capped unless $3.40 is tested.

Backtest Hypothesis

Given the strong volume confirmation at key Fibonacci and moving average levels, a backtesting hypothesis could be to enter long positions upon a bullish engulfing pattern occurring above the 50-period SMA on the 15-minute chart, with a stop loss placed just below the previous swing low. This strategy aligns with the observed 17:45–18:00 ET and 22:30 ET candles, which showed strong momentum and volume. A take-profit target could be set near the 61.8% Fibonacci retracement of the 15-minute swing, which was effectively hit in this session.