Market Overview: Sui/Tether (SUIUSDT) – 24-Hour Analysis (2026-01-02)

Summary
• Price surged from 1.43 to 1.5739 on the 24-hour 5-minute chart, driven by strong volume.
• A bullish engulfing pattern formed at 1.43–1.45, followed by a test of prior resistance now acting as support.
• Volatility expanded mid-day, with Bollinger Bands widening and RSI trending toward overbought territory.
• Notional turnover hit $2.6M at the peak, confirming bullish momentum but hinting at potential exhaustion.
• A 50-period MA on the 5-minute chart crossed above key swing lows, signaling short-term bullish bias.

Sui/Tether (SUIUSDT) opened at 1.4334 (12:00 ET−1) and closed at 1.5739 (12:00 ET) with a high of 1.5766 and low of 1.4303. Total volume was 104,588,254.5 SUI, and notional turnover reached $15,990,853.50.

Structure & Formations

Price moved in a strong bullish trend, forming a bullish engulfing pattern at 1.43–1.45, then consolidating around prior resistance at 1.46–1.47. A key support level appears to be forming near 1.51–1.52, where price has tested and bounced multiple times. A doji formed near 1.5150 in the late afternoon, suggesting a temporary pause in buying pressure.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages are both trending upward, with the 50-period MA crossing above key swing lows. On the daily chart, a 50-period MA may provide support near 1.52, while the 200-period MA lingers below that level.

MACD & RSI

MACD showed a strong bullish crossover early in the session, followed by a divergence around 1.55–1.56. RSI peaked near 75 in the late afternoon, entering overbought territory, which may indicate a short-term pullback is possible.

Bollinger Bands

Volatility increased sharply after 15:00 ET, with the upper Bollinger Band expanding to reflect the high of 1.5766. Price has remained above the 20-period SMA for most of the session and is currently near the upper band, suggesting a potential reversal or consolidation.

Volume & Turnover

Volume remained robust throughout the session, peaking near 1.9M SUI at 15:00 ET. Notional turnover confirmed the upward bias, with a peak of $2.6M at the same time. However, volume appears to be tapering slightly in the last few hours, which could signal a pause in momentum.

Fibonacci Retracements

Fibonacci levels on the key 5-minute swing (1.4303–1.5766) suggest 61.8% retrace levels near 1.51–1.52, which have already acted as support. A break below this level could target 38.2% at 1.48, but current momentum appears to favor a retest of the 1.55–1.57 range.

Price may continue testing key resistance near 1.55–1.57 in the next 24 hours, but bearish divergence on RSI and a potential drop in volume suggest caution. A consolidation near 1.51–1.52 could offer a more favorable entry for longs.