Market Overview: Sun/Tether (SUNUSDT) – October 3, 2025

• SUNUSDT traded in a tight range, with key support found near 0.02530 and resistance near 0.02550.
• A bullish engulfing pattern formed near 0.02544 in early ET hours, suggesting short-term buying interest.
• Volatility increased in the 19:00–21:00 ET period before settling again near the 24-hour close.
• RSI remained neutral with no strong overbought or oversold signals during the 24-hour window.
• Total 24-hour volume exceeded 68M SUN, but turnover remained relatively steady, indicating mixed participation.

Sun/Tether (SUNUSDT) opened at 0.02532 on October 2, 2025, and reached a high of 0.02550 before settling at 0.02533 at 12:00 ET on October 3. The 24-hour trading volume totaled 68,830,980 SUN, with a notional turnover that averaged across the range. Price action remained within a narrow band, showing no clear breakout or breakdown pressure.

Structure & Formations

Price action on the 15-minute chart indicated a tight trading range between 0.02530 and 0.02550. A notable bullish engulfing pattern appeared around 19:00 ET near 0.02544, suggesting a temporary shift in buying momentum. A small bearish doji formed near 0.02548 in late ET hours, signaling indecision among traders. The 0.02530 level acted as a strong support, being tested multiple times without significant breakdown, indicating solid demand in that area.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart were closely aligned, indicating no strong directional bias in the short term. On a daily timeframe, the 50/100/200 EMA structure showed a slightly bearish bias, with the 50 EMA below the 100 and 200 EMA. Price remained below the 200 EMA, reinforcing the idea that the market remains in a broader consolidation phase.

MACD & RSI

The 12/26 MACD histogram showed mixed momentum, with no strong divergence between price and momentum. A positive histogram peak appeared in the 19:00–20:00 ET period, coinciding with the bullish engulfing pattern. RSI remained in the 40–60 range, avoiding overbought or oversold territory, suggesting balanced market sentiment with no extreme positioning. This suggests that while there was some short-term buying interest, it was not enough to trigger a sustained breakout.

Bollinger Bands

Price action remained within the Bollinger Bands for most of the 24-hour period, with volatility expanding slightly in the late ET hours. A brief expansion occurred between 19:00 and 21:00 ET, followed by a contraction, indicating a return to a range-bound structure. Price spent more time near the mid-band, reinforcing the idea that SUNUSDT is in a consolidation phase rather than a trending one.

Volume & Turnover

Volume was distributed fairly evenly across the 24-hour period, with a noticeable spike in the 19:00–21:00 ET timeframe. Turnover mirrored the volume pattern, with no significant divergences between the two metrics. The absence of a clear volume spike during key price levels or patterns suggests that buying or selling pressure was not driven by large market participants, but rather by retail or smaller institutional activity.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from 0.02530 to 0.02550, key levels at 38.2% (0.02540) and 61.8% (0.02547) were tested multiple times. Price found support at the 38.2% level and resistance at the 61.8% level, indicating a high probability that the current range is a consolidation phase ahead of a potential breakout.

Backtest Hypothesis

Given the structure and momentum indicators observed, a potential backtesting strategy could involve entering long positions on bullish engulfing patterns confirmed by a break of the 15-minute high, with a stop loss placed just below the pattern's low. A target for profit could be set at the 61.8% Fibonacci level or the upper Bollinger Band. Short positions could be considered during bearish divergences in the MACD or after a breakdown below the 38.2% Fibonacci level. This strategy would require filtering for volume confirmation and RSI not entering overbought territory to avoid false signals.