Market Overview: Sui/Tether (SUIUSDT) 24-Hour Technical Summary

Summary
• SUIUSDT breaks below key support at 1.65, forming bearish engulfing patterns.
• Volatility surged after midday ET with a 1.66–1.64 range, volume up 35% in last 6 hours.
• RSI remains below 30, suggesting oversold conditions, though bullish reversal is uncertain.

24-Hour Price and Volume

At 12:00 ET on 2025-12-10, SUIUSDT opened at 1.6965, hit a high of 1.7281, a low of 1.6011, and closed at 1.6181. Total 24-hour volume was 28,466,075.5, with notional turnover approximately $46,658,409.

Structure & Formations

Key support levels identified around 1.65–1.645 appear to have failed, as price action broke decisively below this area. A bearish engulfing pattern formed after a strong rally in the 18:30–21:00 ET window. A small doji at 1.6181 suggests potential exhaustion near current levels.

Moving Averages

On the 5-minute chart, price has closed below both the 20 and 50-period SMAs for over 6 hours, reinforcing bearish momentum. Daily 50/100/200 lines show price in a descending order, with the 50-day line at ~1.68, and the 200-day at ~1.70.

MACD & RSI

MACD has remained negative for most of the session, with a narrowing histogram indicating waning bearish momentum.

RSI has dipped below 30, hinting at oversold conditions, but lacks bullish confirmation through price action or volume.

Bollinger Bands

Volatility widened significantly after the 20:30 ET low at 1.6498, with price hitting the lower band at 1.631 and rebounding. The upper band sits at ~1.665, with the midline at ~1.65. Price remains below the midline, reinforcing a bearish bias.

Volume & Turnover

Volume spiked after 16:30 ET as price tested the 1.618–1.620 range, with turnover confirming bearish continuation. However, volume has eased in recent hours, suggesting potential consolidation before the next move.

Fibonacci Retracements

Fib levels drawn from the recent 5-minute high of 1.7281 to the low of 1.6011 show key support at 38.2% (1.666) and 61.8% (1.632). Price currently resides near the 61.8% level, with a possible test of 1.620 expected if buyers show strength.

The market appears to be in a phase of consolidation following a sharp selloff. While oversold conditions may hint at a near-term bounce, the prevailing bearish structure and moving average setup suggest further downside is possible. Investors should remain cautious ahead of potential breakouts or breakdowns in the next 24 hours.