Market Overview for Sui/Tether (SUIUSDT)

Summary
• SUIUSDT formed a bullish engulfing pattern near 1.6125, followed by a 3.3% rebound from 1.5446.
• Momentum shifted mid-day as RSI moved from oversold territory to 55, suggesting rising buying pressure.
• Volatility expanded sharply after 17:30 ET with Bollinger Band width widening by 22%.
• Volume surged to 1.64M during the 21:30 ET rally but waned after 05:00 ET.
• Price appears to consolidate near 1.6229, a level coinciding with the 50-period moving average on the 5-minute chart.

SUIUSDT opened at 1.5596 on 2025-12-07 12:00 ET and closed at 1.6268 on 2025-12-08 12:00 ET, reaching a high of 1.6606 and a low of 1.5446. Total volume for the 24-hour period was 26,691,454.2 and turnover amounted to approximately $41.2 million.

Structure & Formations

A bullish engulfing pattern formed near 1.6125, signaling a potential short-term reversal. Later, a bearish retracement to 1.5446 led to a sharp rebound, forming a key support zone. The current price action around 1.6229 shows signs of consolidation, aligning with the 50-period MA on the 5-minute chart. No major bearish reversal patterns have emerged recently.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages have both shifted upward, with the price currently above both, suggesting a constructive short-term bias. Over the daily timeframe, the 50-period MA may act as a near-term support level for any pullbacks.

MACD & RSI

The RSI climbed from 30 (oversold) to 55, indicating a rise in buying pressure. The MACD crossed above the signal line during the 21:30 ET rally, confirming short-term momentum. However, the RSI has not yet entered overbought territory, suggesting room for further upside in the near term.

Bollinger Bands

Volatility expanded after 17:30 ET, with Bollinger Band width increasing by 22%.

The price has remained well within the upper and lower bands since the 21:30 ET rebound, suggesting a relatively contained range. A break above the 1.6428 upper band could trigger further buying interest.

Volume & Turnover

Volume spiked to 1.64M during the 21:30 ET rebound, followed by a gradual decline after 05:00 ET. Turnover aligned with the volume spikes during key bullish phases but dropped off after consolidation began. Divergence between price and volume is not evident, suggesting a coherent directional move.

Fibonacci Retracements

Key Fibonacci levels for the recent 1.5446–1.6606 move include 38.2% at 1.5953 and 61.8% at 1.6296. The current price is close to the 61.8% level, which may act as a potential resistance and consolidation zone ahead.

The market appears to consolidate above the 1.6229 level, which has become a de facto support after forming at the 50-period MA. A break above 1.6428 could extend the bullish trend, but traders should remain cautious of potential pullbacks near 1.6125–1.6163. As always, sudden macroeconomic events or regulatory news may disrupt the current flow.