Market Overview for SUIUSDT – 2025-09-17

• SUIUSDT opens at $3.598 and closes near $3.6043, with a 24-hour high of $3.6494 and low of $3.5699.
• Price retraces from a strong 15-minute bearish rejection at $3.6418 to retest key support at $3.6003.
• RSI hits oversold levels, while volume increases in the final 6 hours suggest potential bullish reversal.
• Volatility peaks at 3.6418 before narrowing, indicating possible consolidation ahead.
• Bollinger Bands show a recent contraction, hinting at a breakout scenario from the mid-range.

Sui/Tether (SUIUSDT) opened at $3.598 on 2025-09-16 at 12:00 ET and closed at $3.6043 on 2025-09-17 at the same time. The 24-hour high was $3.6494 and the low was $3.5699. Total volume amounted to 15,847,695.0 units, with a total turnover of $56,888,431.21.

Structure & Formations

The 24-hour candlestick pattern for SUIUSDT features a bearish rejection at the $3.6418 level followed by a sharp pullback toward the $3.6003 support. A notable doji appears at 00:45 ET as price consolidates before a late rally. A bullish engulfing pattern emerges in the final 2.5 hours, suggesting potential for a short-term reversal. Key support levels are identified at $3.5969 and $3.5865, while resistance resides at $3.6269 and $3.6418.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages (SMA) remain in a slight bearish bias for most of the 24-hour period, though they begin to flatten as price stabilizes in the final hours. The 50-period SMA crosses below the 20-period SMA near $3.6269, forming a potential death cross before diverging as volume increases late in the session. On a daily chart, the 50-period, 100-period, and 200-period SMAs remain broadly aligned, with no clear divergence yet observed.

MACD & RSI

The MACD line remains in the negative territory for most of the session, with a bearish crossover into the histogram occurring at $3.6418. However, a late rally pushes the histogram slightly into positive territory, suggesting a potential shift in momentum. The RSI indicator dips into oversold territory below 30 for a short time in the early hours of 09-17 before recovering. This may indicate a short-term bottoming pattern with further upside potential. Momentum appears to be stabilizing, with the RSI trending upward as the session closes.

Bollinger Bands

Bollinger Bands show a recent contraction between $3.5969 and $3.6003, suggesting a period of low volatility and a potential breakout ahead. Price remained within the bands for most of the session, with a brief spike above the upper band at $3.6418, which failed to hold. The mid-band currently sits at $3.6159, and a breakout above or below this could signal a continuation or reversal, respectively. The narrowing bands also suggest a potential accumulation phase is in progress.

Volume & Turnover

Volume trends were mixed, with a large spike in turnover occurring at $3.6418 as price reached the upper band. This suggests increased participation at the top of the move, likely from profit-takers. However, volume in the final 6 hours of the session increases significantly, particularly from 06:00 ET onward, which may indicate renewed interest from buyers. Notional turnover also follows a similar pattern, peaking at $3.6418 before declining, then rising again in the final hours. This divergence between price and volume in the early hours could indicate a false breakdown attempt.

Fibonacci Retracements

Applying Fibonacci retracement levels to the key swing high of $3.6494 and the swing low of $3.5699, SUIUSDT has found support near the 61.8% level at $3.6003 and is currently hovering around the 78.6% retracement level at $3.6111. On the 15-minute chart, retracement levels from the recent high of $3.6269 to the low of $3.6031 show key support near $3.614. The 50% retracement level at $3.616 is showing signs of strength in the final hours of the session, suggesting it may act as a pivot for near-term direction.

Backtest Hypothesis

A potential backtest strategy for SUIUSDT could focus on short-term reversals triggered by a close above the 61.8% Fibonacci retracement at $3.6003 and a bullish engulfing pattern, particularly in conjunction with rising volume and RSI divergence. Entering a long position at $3.6111 with a stop-loss placed below $3.5969 could target the next resistance at $3.6269. This strategy would rely on the assumption that the recent bearish exhaustion and late-session volume increase are signs of a near-term bullish reversal.