Market Overview: Sun/Tether (SUNUSDT) 24-Hour Technical Analysis

• Price action on SUNUSDT saw a sharp 24-hour rebound with a 42% surge from 0.02763 to 0.0385.
• Momentum picked up significantly overnight, as shown by high-volume moves and a strong RSI divergence.
• Volatility expanded through the night, with the price breaking above the 0.0307–0.0322 consolidation range.
• Volume spiked in the early morning before cooling off in the afternoon, suggesting a possible test of key resistance.
• Key support and resistance levels were identified using Fibonacci and moving averages, providing clear next steps.

At 12:00 ET–1 on 2025-09-21, SUNUSDT opened at 0.02763 and traded as low as 0.02763 before surging to a 24-hour high of 0.044 at 12:00 ET on 2025-09-22. The pair closed the 24-hour period at 0.0385, reflecting a strong upward move. Total volume for the 24-hour period was 452.6 million SUN, while notional turnover reached approximately $16.7 million, based on average prices.

Structure & Formations

The 15-minute chart shows a clear reversal pattern forming during the overnight session, particularly between 02:45 ET and 03:45 ET, where the price surged from 0.02882 to 0.03438 in a sharp bullish fashion. A large bullish candle on the 03:15 ET bar marked the first significant break above the 0.0307–0.0322 range. This was followed by a bearish correction between 03:45 ET and 05:00 ET, but buyers reasserted control after 05:30 ET, confirming the new momentum. A notable bullish engulfing pattern appeared at 09:45 ET, supporting the continuation of the upward move.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs crossed in a bullish direction around 03:00 ET, reinforcing the early morning buying wave. The 20-SMA was at 0.0294 at 12:00 ET–1 but had climbed to 0.0327 by 12:00 ET, now acting as dynamic support. The 50-SMA, at 0.0303, had also crossed higher, now trailing the price closely. On a daily timeframe, the 50-SMA is at 0.0298, and the 200-SMA is at 0.0293, both of which the price is now comfortably above.

MACD & RSI

The MACD line on the 15-minute chart showed a strong positive crossover early in the morning, with the histogram peaking around 04:00 ET as volume surged. The RSI confirmed the strength of the rally, rising above 50 and reaching 65 by 09:00 ET. It then pulled back slightly to 60 at 12:00 ET, indicating moderate momentum. The RSI is now within overbought territory (above 60), but it shows no signs of exhaustion as long as the 50 level remains above the signal line.

Bollinger Bands

The Bollinger Bands showed a clear expansion overnight as volatility increased. By 03:00 ET, the price broke above the upper band, signaling a breakout move. The upper band was at 0.0313 at 12:00 ET–1 but had risen to 0.0341 by 12:00 ET, now trailing the price. The lower band, at 0.0294, is now a key support level. The price remains comfortably above the midline, which is currently at 0.0317, indicating a continuation of the bullish trend.

Volume & Turnover

Volume spiked sharply during the overnight session, with a notable 15-minute candle at 02:45 ET showing a volume of 452.6 million SUN, contributing to the largest notional turnover of $16.7 million. This was followed by a steady volume flow during the morning hours, confirming the strength of the move. However, after 10:00 ET, volume began to wane slightly, suggesting that buyers may be pausing to reassess the next level of resistance.

Fibonacci Retracements

Fibonacci levels applied to the 0.02763–0.044 move show key resistance at the 0.0385 (61.8%) and 0.0395 (78.6%) levels. The price is currently at the 61.8% level, which is also in line with the 20-SMA. A break above this level could target the 78.6% at 0.0395 and beyond. On the 15-minute chart, recent swings from 0.02966 to 0.02869 show retracement levels at 0.0291 (38.2%) and 0.0294 (61.8%), which the price appears to be retesting.

Backtest Hypothesis

A potential backtesting strategy could involve a breakout system that enters long on a close above the upper Bollinger Band, confirmed by volume and RSI above 50. Stops could be placed below the lower Bollinger Band or the last significant support level, while profit targets could be set at the 61.8% and 78.6% Fibonacci retracement levels. This aligns well with the observed technical behavior on SUNUSDT, particularly the overnight breakout and subsequent consolidation.