Market Overview for Sun/Tether (SUNUSDT) — 2025-10-07

• SUNUSDT opened at $0.02503 and closed near $0.02554, with a 24-hour high of $0.0259.
• Price advanced in a bullish trend following a sharp 09:00–10:30 ET buying wave.
• RSI and MACD showed strong momentum, while volume surged in the 09:00–10:30 ET window.
• Bollinger Bands showed expansion, with price near the upper band in the final hours.
• Turnover hit $25.3M in the 09:00–10:30 ET session, confirming bullish conviction.

24-Hour Price Action Summary

Sun/Tether (SUNUSDT) opened at $0.02503 on 2025-10-06 at 12:00 ET and closed at $0.02554 on 2025-10-07 at 12:00 ET. Over the 24-hour period, it reached a high of $0.0259 and a low of $0.02499. The total trading volume was 111.4 million SUN, with a notional turnover of approximately $2.88 million.

Structure & Formations

The price structure over the last 24 hours displayed a clear bullish bias. Notable support levels appear around $0.02506–0.02508, where the price found multiple bounces and consolidations. Resistance levels were tested near $0.0253 and $0.0257, with the latter acting as a key breakout point in the 09:00–10:00 ET window.

Candlestick patterns included a strong bullish engulfing pattern during the 09:15–09:30 ET session and a morning star pattern between 09:00–10:00 ET, both indicating strong buyer control. A doji formed at $0.02567 at 10:15 ET, hinting at a temporary pause in momentum and possible consolidation.

Moving Averages and Bollinger Bands

On the 15-minute chart, the 20-period MA crossed above the 50-period MA around 09:00 ET, confirming a bullish crossover. The 50-period MA has acted as a dynamic support level, with price consistently staying above it.

Bollinger Bands widened during the 09:00–10:30 ET window, signaling increased volatility and strong directional bias. Price closed near the upper band on several occasions, suggesting a continuation of the bullish trend unless a retest of key moving averages occurs.

MACD and RSI Momentum Analysis

The MACD histogram showed a strong positive divergence, expanding significantly during the 09:00–10:30 ET period and indicating growing bullish momentum. The signal line crossed above the MACD line, reinforcing the continuation pattern.

RSI climbed above 60 by 09:00 ET and peaked at 64.5 at 09:30 ET, suggesting the asset was entering overbought territory. However, given the strength of the bullish wave, it appears the overbought condition is being tolerated by the market, and further upside may still be in play. A drop below 55 could signal a pause in the trend.

Volume and Turnover

Volume surged in the 09:00–10:30 ET window, peaking at $25.3 million in notional turnover. This aligns with the price breakout near $0.0257 and $0.0259, indicating strong institutional or large-cap participation.

Notable volume divergence occurred at 15:00 ET, where volume decreased despite a small price rise. This could signal weakening conviction and a potential short-term pullback. However, the overall volume profile remains bullish, with no major red flags in terms of divergence.

Fibonacci Retracements

Applying Fibonacci retracements to the 09:00–10:00 ET move (from $0.0256 to $0.0259), the 38.2% retracement at $0.02578 and the 61.8% retracement at $0.02555 appear as key support levels. The 127% extension at $0.0261 is a potential price target if the current bullish momentum holds.

For the daily chart, the 61.8% retracement from the October 4th low at $0.0245 to the October 6th high at $0.0259 is currently at $0.02527, which coincides with a key support area.

Forward-Looking View and Risk Caveat

In the coming 24 hours, SUNUSDT could test the $0.0260–0.0261 resistance range. A close above this level would suggest a stronger bullish continuation, potentially targeting $0.0264–0.0266. However, a pullback to the $0.0255–0.0253 zone could offer a favorable reentry opportunity if volume and momentum confirm a rebound.

Traders should remain cautious of overbought RSI readings and potential consolidation patterns. A breakdown below $0.02506 may signal a near-term reversal.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions during bullish engulfing or morning star patterns confirmed by a break above the 20-period MA on the 15-minute chart. A stop-loss could be placed below the 50-period MA or a recent support level, with a target set at the 38.2% and 61.8% Fibonacci extensions.

Incorporating MACD histogram expansion and RSI above 55 as entry confirmation filters could help filter out weaker setups. This approach aims to capture the continuation of strong bullish momentum while managing downside risk through defined stop levels.