Market Overview: SUIUSDT – 2025-10-28

Generated by AI AgentTradeCipherReviewed byAInvest News Editorial Team
Tuesday, Oct 28, 2025 4:08 pm ET1min read
Aime RobotAime Summary

- SUIUSDT traded between $2.5481 and $2.6859, testing key support near 2.60–2.61 before consolidating.

- Bearish engulfing patterns and MACD bearish crossover confirmed short-term downside bias despite RSI hitting oversold levels.

- Backtested "Bearish Engulfing" strategy showed limited statistical significance, with 18 events yielding mixed 1-16 day returns.

- Volatility expansion and waning volume suggest potential distribution phase, with price hovering below 200-day MA on daily charts.

• SUIUSDT opened at 2.62 and closed at 2.5949, with a high of 2.6859 and low of 2.5481
• Price tested a bearish breakout from a short-term ascending channel before consolidating near key support
• Volatility expanded midday, followed by a sharp drop in turnover and volume at the session close
• RSI hit oversold territory, suggesting potential near-term buying interest but lack of momentum
• Volume surged during the bearish leg but waned toward the end, highlighting potential distribution

Sui/Tether (SUIUSDT) opened at 2.62 at 12:00 ET − 1 and closed at 2.5949 at 12:00 ET, with a high of 2.6859 and low of 2.5481 during the 24-hour window. Total volume reached 15.67M units, with notional turnover amounting to $42.32M. The pair exhibited a bearish bias after midday, with a pronounced pullback from 2.6859.

On the 15-minute OHLCV data, key resistance levels formed at 2.6768 and 2.6859, while support was identified near 2.603–2.6146 and 2.5481. A notable bearish engulfing pattern occurred on the candle at 2025-10-28 06:00:00, signaling a potential reversal. A bullish doji emerged at 23:45 ET, indicating hesitation in sellers. These structures suggest the market is testing the 2.60–2.61 support cluster before attempting a recovery.

The 20- and 50-period moving averages on the 15-minute chart crossed below key support at 2.603, reinforcing a short-term bearish bias. On the daily timeframe, the 50- and 200-period moving averages indicate a sideways consolidation, with the price hovering below the 200-day MA. This may suggest a broader distribution phase or exhaustion in bullish momentum.

MACD crossed below the signal line in the early morning, confirming bearish momentum. RSI dropped into oversold territory near 28, suggesting potential for a near-term rebound but without strong conviction. Volatility, as measured by Bollinger Bands, expanded during the drop to 2.5481, with price closing near the lower band. This implies increased short-term uncertainty and possible consolidation ahead.

Backtest Hypothesis

The "Bearish Engulfing → sell at next-candle close" strategy was backtested on SUIUSDT from 2022-01-01 to 2025-10-28, detecting 18 relevant events. While the average 1-day return of +2.29% outperformed the benchmark, no statistical significance was observed, and win rates never exceeded 67%. The best holding period (day 16) showed +3.05% excess return, but the pattern lacks robustness for a consistent edge. These findings suggest the pattern may occasionally offer timing opportunities but not as a standalone strategy.