Market Overview for SUIUSDT (Sui/Tether USDt)

• Price opened at $3.6083 and closed at $3.5897, down 0.51% over 24 hours
• Volatility spiked overnight, with a 1.16% drop from $3.63 to $3.59 within 2.5 hours
• Key support tested at $3.59–$3.60 and rejected three times, signaling short-term floor
• RSI hovered near 40–45, suggesting moderate momentum with no extreme overbought/oversold levels
• Volume surged 30% between 20:00–21:00 ET, confirming short-term bearish pressure

Sui/Tether USDt (SUIUSDT) opened at $3.6083 on 2025-09-10 12:00 ET, hit a high of $3.6607, fell to a low of $3.5534, and closed at $3.5897 on 2025-09-11 12:00 ET. Total volume across the 24-hour period was 5,557,398 units, while notional turnover reached $19.66 million based on weighted average pricing.

Structure & Formations

Price action revealed a key consolidation phase between $3.59 and $3.61, with three unsuccessful attempts to break above the $3.61 level. A bearish engulfing pattern formed at $3.615–$3.5827 on 2025-09-10 16:15 ET, signaling a shift in sentiment. A doji at $3.5924–$3.5885 on 2025-09-10 18:00 ET indicated indecision, but price failed to reclaim key resistance above $3.61. Short-term support is now at $3.592, and resistance is expected to re-test $3.62–$3.63.

Moving Averages and MACD/RSI

On the 15-minute chart, the 20-period EMA crossed below the 50-period EMA at 05:00 ET, confirming a bearish crossover. RSI remained in the mid-range (40–45) throughout the session, lacking overbought or oversold extremes. MACD turned negative at 03:45 ET, with bearish divergence evident from 04:00–05:30 ET. The 50-period daily MA is at $3.625, while the 200-period MA sits at $3.607, suggesting the pair remains in a short-term bear phase but could consolidate near $3.60 in the near term.

Volatility, Bollinger Bands, and Fibonacci

Volatility expanded sharply between 20:00–21:00 ET as Bollinger Bands widened, reflecting increased fear. Price closed just below the lower band at $3.59, suggesting a potential bounce. Fibonacci levels show key retracement levels at 38.2% ($3.608), 61.8% ($3.597), and 78.6% ($3.585), indicating that the $3.59–$3.60 zone is a critical pivot. A retest of the 38.2% retracement could spark a short-term rebound if bullish volume surges.

Backtest Hypothesis

A potential backtesting strategy could involve a dual-timeframe approach: entering long positions when the 15-minute 20 EMA crosses above the 50 EMA, and the daily 50 EMA is above the 200 EMA, with a stop loss below a key Fibonacci retracement level. Conversely, short positions could be initiated when the 20 EMA crosses below the 50 EMA and RSI remains below 50 for three consecutive bars. This method would aim to capture momentum-driven moves while filtering out noise using the daily structure for directionality. Given recent price behavior, such a strategy may offer a balanced risk-reward setup if SUIUSDT retests $3.60–$3.63.