Market Overview for Sun/Tether (SUNUSDT) as of 2025-09-24

• Price declined from $0.03096 to $0.02846 on 24-hour OHLC
• Volatility surged, with a 7.2% drop in price from high to low
• Volume surged past 50M units, but turnover weakened in the final 8 hours
• Key support tested at $0.0286 and rebounded multiple times
• RSI and MACD signaled bearish momentum and possible oversold conditions

Sun/Tether (SUNUSDT) opened at $0.03065 on 2025-09-23 12:00 ET, peaked at $0.03096, dropped to a 24-hour low of $0.02846, and closed at $0.02846 as of 12:00 ET on 2025-09-24. Total traded volume reached 135,767,420 units, with notional turnover amounting to $3,889,486 (calculated via price × volume).

Structure & Formations

Price action over the last 24 hours displayed a bearish consolidation phase, with a distinct descending triangle formation visible on the 15-minute chart. Key resistance levels were identified near $0.03096, where the price previously struggled to retest after a brief rebound. Conversely, support at $0.0286 showed resilience, with multiple bounces and a doji candle appearing near $0.02846. A bearish engulfing pattern emerged around 00:30 ET (2025-09-24) as the price fell from $0.03031 to $0.02983, signaling a potential short-term continuation of bearish momentum.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in a bearish crossover, with the 20-period line pulling down the 50-period line. Daily averages (50/100/200) also remained in a downward bias, with the 200-day MA acting as a psychological floor near $0.0282–0.0283, which the price briefly touched but did not break. This suggests the market remains in a bearish trend on multiple timeframes.

MACD & RSI

MACD remains bearish, with the histogram showing a consistent negative divergence and the signal line below the MACD line. The RSI hovered in oversold territory for most of the last 6 hours, peaking around $0.02846 with a reading of 29. While this may suggest a short-term rebound is possible, the broader context remains bearish due to lack of follow-through in volume.

Bollinger Bands

Bollinger Bands showed significant expansion in the afternoon hours of 2025-09-23 and again in the early morning of 2025-09-24, signaling increased volatility. Price action remained within the bands for most of the day, but the recent break below the lower band suggests a potential continuation of the downtrend. The 20-period standard deviation was at its highest in the last 24 hours, indicating heightened uncertainty.

Volume & Turnover

Volume spiked dramatically between 03:30 and 04:15 ET, as the price broke below $0.02955. This was followed by a surge in notional turnover despite a falling price, indicating aggressive shorting activity. However, in the final 8 hours, volume began to taper off even as the price continued lower, suggesting exhaustion in the bearish move. A volume- price divergence emerged after 09:00 ET, hinting at potential near-term support testing or reversal.

Fibonacci Retracements

Fibonacci retracement levels based on the 24-hour high ($0.03096) to the low ($0.02846) show key levels at $0.0297 (38.2%), $0.0293 (50%), and $0.0288 (61.8%). The price spent time near the 50% level in the midday hours of 2025-09-24 before breaking decisively lower. The 61.8% level at $0.0288 may offer near-term support ahead of the $0.0283–0.0284 key area.

Backtest Hypothesis

Given the current bearish momentum and key support/resistance levels identified, a potential backtesting strategy could focus on a mean-reversion setup at the 50–61.8% Fibonacci levels, using RSI and volume divergences as entry triggers. A long-position entry could be triggered when the RSI crosses above 30 with rising volume and a close above the 50-period moving average on the 15-minute chart. Stop-loss placement would be below the most recent swing low, with a target set near the 38.2% retracement level. This approach aligns with the observed consolidation and potential exhaustion in the bearish move.