Summary
• Price declined 0.44% over 24 hours, forming bearish momentum below $0.0189.
• Volatility expanded in late-night session, with key support now at $0.01886.
• Volume surged during the 00:45 ET-01:00 ET window, signaling increased selling pressure.
• RSI indicates moderate oversold conditions, suggesting potential for a near-term bounce.
Sun/Tether (SUNUSDT) opened at $0.0189, reached a high of $0.01897, and a low of $0.01875, closing at $0.01883 by 12:00 ET. Total volume was 5,480,811.0 units, with $103,561.3 in turnover.
Structure & Formations
Price action formed bearish engulfing patterns during the 03:15-03:45 ET window, with a notable breakdown below the 0.0189 support level. Key support appears at $0.01886, with resistance now at $0.01892. A potential bullish reversal may occur if price stabilizes above $0.01888.
Moving Averages
On the 5-minute chart, price closed below both the 20-period and 50-period moving averages, reinforcing bearish momentum. Daily moving averages remain neutral, with no clear divergence observed.
MACD & RSI
MACD turned negative in the final hours, indicating fading bullish momentum. RSI dropped into the 30–35 range, suggesting oversold conditions, which may offer a near-term rebound opportunity.
Bollinger Bands
Volatility expanded during the 00:45-02:00 ET period, with price touching the lower band multiple times. A consolidation phase began after 06:00 ET, suggesting potential for a mean reversion.
Volume & Turnover
Volume surged over 600K units during the 00:45-01:00 ET period, confirming a bearish breakout. However, turnover and price action aligned well afterward, indicating genuine conviction in the lower move.
Fibonacci Retracements
A 5-minute retracement from the $0.01897 high to $0.01875 low placed 61.8% at $0.01883—currently the close level—suggesting a possible pause or reversal.
Price may test support at $0.01883 in the next 24 hours, with a potential bounce back toward $0.0189. Traders should monitor volume and RSI for confirmation.
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