Market Overview for SUIUSDT on 2025-10-09

• SUIUSDT opened at 3.4618 and dropped to a 24-hour low of 3.3425 before closing near 3.3980 at 12:00 ET.
• The pair posted a 5.67% price recovery in the final 4.5 hours, but remains below the 3.4464 key support.
• Daily volatility surged with a 24-hour turnover of $105.4M and volume peaking at over 1.4M during the 8:30–9:15 ET session.
• RSI and MACD signaled bearish momentum early, but a late bounce showed signs of short-term accumulation.

Sui/Tether (SUIUSDT) opened at 3.4618 on 2025-10-08 at 16:00 ET and reached a high of 3.5649 before trending downward throughout the day. By 12:00 ET on 2025-10-09, it closed at 3.3980 after hitting a 24-hour low of 3.3425. The total volume traded was over 18.5 million SUI, with a turnover of approximately $105.4 million.

Structure & Formations

The candlestick pattern over the last 24 hours showed a bearish breakdown from key resistances above 3.4464 and 3.4736, culminating in a test of the critical support at 3.36. A bullish reversal pattern emerged in the final hours near 3.3425, marked by a hammer-like candle, which could signal short-term accumulation. The most recent 15-minute OHLC data shows the price attempting to re-test the 3.4000–3.4050 range, with a 61.8% Fibonacci retracement of the 3.3425–3.4113 swing at 3.3815 acting as a potential near-term pivot.

Moving Averages and Bollinger Bands

On the 15-minute chart, the 20-period and 50-period moving averages are bearishly aligned below the price, reinforcing the downtrend. The daily MA 50 and 200 are also below the current price, indicating a longer-term bearish trend. Bollinger Bands showed a wide expansion from midday to early evening before contracting slightly, suggesting volatility exhaustion. The current price of 3.3980 lies just below the upper band, indicating a potential overbought condition on the 15-minute chart.

MACD and RSI

The MACD line has remained negative for most of the day, with a bearish crossover occurring just before 8:00 ET, followed by a slight positive divergence in the final 4.5 hours. The RSI dropped below 30 during the sell-off, reaching 29.5, but has since rebounded above 40, showing signs of potential overbought exhaustion. This divergence between price and RSI suggests a potential near-term bottoming scenario, although confirmation above 3.4048 could re-ignite buying interest.

Volume & Turnover

Volume surged between 8:30–9:15 ET, with over 1.4 million SUI changing hands during that 45-minute period, coinciding with a sharp drop from 3.4138 to 3.3809. The highest notional turnover occurred at the same time, with a $48.2 million trade volume. However, volume has since contracted, suggesting a lack of follow-through in the recent rally. A price-volume divergence is beginning to form, with lower volume accompanying the price rebound, which could indicate a shallow recovery.

Fibonacci Retracements

Applying Fibonacci to the 3.3425–3.4113 bounce, the 38.2% retracement is at 3.3736, where the price found support briefly on October 9. The 50% level at 3.3777 was also tested and rejected. A break above 3.4000 would target the 61.8% level at 3.4038, followed by a potential 100% extension at 3.4113 if the recovery continues.

Backtest Hypothesis

Given the late-day recovery and the bearish divergences observed in RSI and MACD, a potential backtest hypothesis could involve a swing-trading strategy triggered by a bullish engulfing pattern at key Fibonacci levels (e.g., 3.3777 and 3.4000). A long position could be entered upon a confirmed close above 3.4000 with a stop-loss below 3.3850. The target would be the 61.8% retracement at 3.4038 and then the 100% extension at 3.4113. This strategy would rely on the assumption that the recent volume contraction may have cleared short-term selling pressure and that the 15-minute RSI divergence could foreshadow a near-term reversal.