Market Overview: Sun/Tether (SUNUSDT) 24-Hour Price Action

Summary
• Price declined from 0.02047 to 0.02024, forming a bearish trendline with multiple bearish engulfing patterns.
• RSI dipped into oversold territory while volume surged at key support levels, signaling possible short-term stabilisation.
• Bollinger Bands narrowed in early hours before expanding, hinting at increased volatility and a potential breakout.

Sun/Tether (SUNUSDT) opened at 0.02047 at 12:00 ET – 1, touched a high of 0.02048 and a low of 0.02022, closing at 0.02024 by 12:00 ET. Total volume reached 21.0 million, with notional turnover estimated at ~$4.25 million.

Structure & Key Levels

The pair tested and consolidated near 0.02022–0.02024, a potential support cluster marked by bearish engulfing and a long lower wick at 03:30 ET. Resistance remains at 0.02036–0.02038, where the price stalled multiple times. A descending channel is visible over the last 4 hours, suggesting further downside is possible unless buyers step in near support.

Momentum and Oscillator Indicators

RSI declined to 30 in the late hours, signaling oversold conditions but failed to generate a bullish reversal. MACD remained negative throughout with a narrowing histogram, suggesting fading bearish momentum.

Volatility and Volume

Volatility expanded sharply as the price broke below the Bollinger Band floor at 0.02022. Volume surged during the 03:30–05:00 ET range, especially near support, indicating accumulation. Notional turnover also spiked as the price tested 0.02022–0.02025.

Forward Outlook

Sun/Tether appears to be consolidating near a key Fibonacci level (61.8% of the 0.02022–0.02048 swing), which could offer a short-term floor. However, a break below 0.0202 may trigger further downside. Investors should watch for a rejection at 0.02024 or a potential rebound to 0.02035–0.02036. As always, be cautious of sudden liquidity shifts and bear in mind the market’s sensitivity to broader crypto sentiment.