Market Overview for Sui/Tether (SUIUSDT) – October 10, 2025

• SUIUSDT opened at 3.356 and closed at 3.3028 after a sharp sell-off.
• Price fell below key support at 3.3507 and 3.3484, triggering bearish momentum.
• High volatility observed near 3.3334, with volume spiking to 5.5M USDT in the final hour.
• RSI and MACD confirmed oversold conditions, suggesting a potential bounce or consolidation.
• Bollinger Bands widened significantly as price dropped, indicating a strong bearish move.

Market Open and Close

Sui/Tether (SUIUSDT) opened at 3.356 at 12:00 ET on October 9 and closed at 3.3028 by 12:00 ET on October 10. The price experienced a sharp decline, dropping as low as 3.25. Over the 24-hour period, total volume amounted to 28,208,767.4 USDT, while notional turnover reached $104.5M. This suggests heightened bearish pressure, especially in the final 15 minutes of the period.

Structure & Formations

Price broke below key support levels at 3.3507 and 3.3484, with a final rejection at 3.25 marking a significant bearish pivot. A long bearish candle at 3.25-3.3484, followed by a continuation pattern, indicates a strong downward bias. A potential support zone has now emerged around 3.3028, which may offer short-term consolidation or a bounce. A doji at 3.2966-3.3324 may indicate indecision or a short-term reversal signal, though confirmation is needed above 3.3334.

Moving Averages

The 20-period and 50-period SMAs on the 15-minute chart have both crossed below key support levels, confirming the bearish trend. The 50-period SMA is now at 3.375, while the 100-period and 200-period SMAs sit at 3.382 and 3.391, respectively. Price is currently below all of them, suggesting a continuation of the downtrend is likely unless a reversal occurs above 3.3334.

MACD & RSI

The MACD line has turned negative and crossed below the signal line, reinforcing bearish momentum. RSI has dropped to 24.3, indicating oversold territory. However, in fast-moving markets like this one, oversold conditions do not always guarantee a bounce, and caution is warranted. A reversal from this zone would require a confirmed bullish divergence in RSI and a positive cross in the MACD.

Bollinger Bands

Bollinger Bands have widened significantly as price dropped, indicating an expansion in volatility. The price currently sits near the lower band at 3.2966-3.3324, suggesting a potential bounce or a consolidation phase. A move above the middle band (3.318) would indicate a potential short-term reversal. Traders should monitor this zone closely for reversal signals or continued bearish action.

Volume & Turnover

Volume spiked dramatically in the final 15-minute candle, with 5.5 million USDT traded at 3.25-3.3484. This divergence from the price action—where volume surged as price dropped—suggests strong bearish conviction. However, a sharp drop in volume in the subsequent period may indicate short-term exhaustion or a pause. A follow-through in volume would be needed to confirm further downside.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute chart, the 38.2% retracement is at 3.3334, and the 61.8% level is near 3.305. Given the sharp sell-off, a bounce from 3.3028 to 3.3334 is likely. On the daily chart, the 50% retracement is near 3.375, which could act as a potential resistance if the price recovers.

Backtest Hypothesis

Given the observed breakdown below key support, a potential backtest strategy could include a short entry at 3.2966 with a stop above 3.3334, targeting 3.25 as the next level. This aligns with the bearish momentum confirmed by the MACD, RSI, and volume profile. A trailing stop at the 61.8% Fibonacci level at 3.305 could help manage risk and capture potential short-term bounces. This approach would need to be tested across multiple timeframes to confirm consistency in a bearish environment.