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

• SUI/USDT surged from $3.4293 to $3.6121, forming bullish momentum with increasing volume.
• A strong breakout above $3.5509 triggered accumulation and higher highs into the session close.
• RSI entered overbought territory after 17:45 ET, indicating potential short-term exhaustion.
• Bollinger Bands expanded significantly, reflecting heightened volatility and key support/resistance in play.
• Volume spiked during the final 6 hours, with a 24-hour turnover of $98.2 million, confirming strong buying pressure.

At 12:00 ET-1, SUI/USDT opened at $3.4293, surged to a high of $3.6272, and closed the 24-hour period at $3.6121. Total volume was 12.5 million SUI with a notional turnover of $98.2 million. The pair showed strong bullish bias, driven by a series of higher highs and increasing volume across key breakout levels.

Structure & Formations

The 15-minute chart displayed multiple bullish patterns including a morning star near $3.4300 and a bullish engulfing pattern at $3.4700. Resistance levels formed at $3.5000, $3.5509, and $3.6000, with the latter being a key breakout level. Support zones were visible at $3.4500 and $3.4300, both tested multiple times during the session. A large bullish candle at 07:45 ET confirmed accumulation near $3.5509.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were both bullish, with price consistently above both. The 20SMA crossed above the 50SMA at 07:00 ET, confirming a golden cross pattern. On the daily chart, the price closed above the 50DMA and was approaching the 100DMA, indicating potential for further upside.

MACD & RSI

The MACD turned positive and showed a growing histogram from 07:00 ET onwards, suggesting increasing bullish momentum. RSI crossed above 70 after 17:45 ET, signaling overbought conditions. Divergence between RSI and price was not observed, indicating strong conviction behind the move.

Bollinger Bands

Bollinger Bands widened significantly during the breakout, with price touching the upper band multiple times. The most recent expansion occurred between 07:45 and 10:00 ET, indicating heightened volatility and a possible continuation of the bullish trend.

Volume & Turnover

Volume increased sharply from 07:00 ET onward, with the largest spike at 07:45 ET when the price broke above $3.5509. Turnover also surged during this period, confirming that the breakout was backed by strong buying interest. No significant divergence was observed between price and volume during the session.

Fibonacci Retracements

On the 15-minute chart, the price bounced off the 61.8% retracement level at $3.4500 before surging higher. On the daily chart, the current move appears to be testing the 38.2% retracement level of the prior bearish leg. A close above $3.6183 could target the 50% retracement at $3.6600.

Backtest Hypothesis

The described backtest strategy focuses on golden cross confirmation via 20SMA/50SMA and a breakout above key resistance levels identified using Bollinger Bands. The current setup aligns well with this strategy, as the golden cross occurred on a strong volume spike, and the price moved decisively above the upper Bollinger Band. RSI overbought levels could signal an entry point for a profit-taking or trailing stop strategy. This hypothesis suggests entering long on confirmation of the breakout, with a stop below the 61.8% Fibonacci level at $3.5000.