Market Overview for Sui/Rupiah on 2025-12-26

Summary
• SUIIDR formed a bearish engulfing pattern around 23,693 IDR after hitting a 24-hour high of 23,919 IDR.
• Price dropped 5.1% in 5 hours, closing at 22,778 IDR, with a massive volume spike at 22,823 IDR.
• RSI and MACD show strong bearish momentum, with RSI near oversold levels, suggesting a possible rebound.
• Bollinger Bands show contraction followed by a sharp expansion, indicating increased volatility and a directional move.
• A 38.2% Fibonacci retracement level at 23,042 IDR appears to have acted as temporary support before price collapsed.

SUIIDR opened at 23,919 IDR on 2025-12-25 at 12:00 ET, reached a high of 23,919 IDR, and closed at 22,778 IDR by 12:00 ET on 2025-12-26. The 24-hour period saw a volume of 4,751.59 and a turnover of 175,308,766.18 IDR.

Structure & Formations

The initial 5-minute candle formed a bearish engulfing pattern, indicating a shift in sentiment. A large bearish candle at 22,823 IDR confirmed a breakdown in short-term momentum. No clear reversal patterns emerged during the decline, but a potential bullish reversal may be forming near 22,778 IDR as volume dried up.

Moving Averages

On the 5-minute chart, the 20SMA and 50SMA crossed bearishly, reinforcing the downward bias. The daily 50DMA and 200DMA are not available, but given the sharp 5-minute decline, the pair appears to be testing key support levels.

MACD & RSI

The MACD turned sharply negative with a bearish crossover, indicating strong bearish momentum. RSI dropped into oversold territory around 28, suggesting a potential short-term bounce. However, divergence between RSI and price remains absent, so caution is warranted.

Bollinger Bands

Volatility remained compressed for much of the session, with price tightly clustered between the bands. A sudden expansion occurred following the large bearish candle at 22,823 IDR, and price closed near the lower band, signaling increased bearish pressure.

Volume & Turnover

Volume spiked significantly at 22,823 IDR and again at 22,778 IDR, confirming key breakdowns. However, turnover dried up after 22,778 IDR, which may indicate a lack of follow-through selling. Price and volume appear to be in alignment during the sell-off, but divergence could signal a reversal if buyers emerge.

Fibonacci Retracements

The 5-minute retracement levels showed a breakdown from the 38.2% level at 23,042 IDR and then the 61.8% level at 22,834 IDR. The daily chart’s 61.8% retracement level is not yet defined due to the recent decline, but the current close near 22,778 IDR may serve as a near-term pivot.

Investors should monitor for a potential bounce off the lower Bollinger Band and oversold RSI levels, which may provide a short-term entry point. However, without a clear reversal pattern or bullish volume confirmation, the near-term bias remains bearish. Risks include further downside if key support levels like 22,500 IDR break, or a rapid rebound if buying interest emerges at 22,778 IDR.