Market Overview for Sun/Tether USDt (SUNUSDT) — 2025-09-05

• Price opened at $0.02175 and closed at $0.02138, with a 24-hour high of $0.02186 and low of $0.02112.
• Volume surged to 5.8M at the session low, but price continued lower, indicating bearish conviction.
• RSI reached oversold territory near 28, while MACD showed bearish divergence, suggesting potential bounce.
• Price fell below key support at $0.02144, with Fibonacci levels now targeting $0.02135 and $0.02126.
• Bollinger Bands expanded, showing heightened volatility, with price near the lower band as of 12:00 ET.

Sun/Tether USDt (SUNUSDT) opened at $0.02175 at 12:00 ET - 1 and closed at $0.02138 at 12:00 ET, with a 24-hour high of $0.02186 and low of $0.02112. Total volume across the 24-hour period reached 58,307,300 units, and notional turnover stood at $1,233,000.

Structure & Formations

Price action over the last 24 hours has shown a clear bearish bias, with SUNUSDT breaking below key support levels, including $0.02144 and $0.02135. A series of bearish engulfing patterns and long lower shadows have emerged, especially after the sharp decline between 01:15–01:45 ET. A potential short-term support floor appears to have formed around $0.02132, coinciding with a Fibonacci 61.8% retracement level from the morning high. A strong rejection near that level could signal a short-term bounce or a consolidation phase ahead.

Moving Averages

On the 15-minute chart, price has stayed below the 20- and 50-period moving averages for most of the session, confirming short-term bearish momentum. The 50SMA currently sits near $0.02142, and the 20SMA is slightly below it at $0.02140. On the daily scale, the 50DMA is at $0.02155, and the 200DMA is at $0.02170, suggesting the pair remains significantly below its longer-term averages, which could imply more downside potential unless buyers step in near critical levels.

MACD & RSI

The MACD line has crossed below the signal line in bearish territory, and both lines are trending lower, suggesting continued selling pressure. RSI has entered oversold territory (28 as of 12:00 ET), which may indicate a potential near-term bounce. However, the divergence between the MACD and price movement suggests that sellers may remain in control, and a sustained rebound would require strong volume confirmation and a break back above the 50SMA.

Bollinger Bands

Bollinger Bands have widened as volatility increased during the late-night and early-morning sell-off. As of 12:00 ET, price is trading near the lower band at $0.02132, indicating that the market is in a low zone. A break below the lower band could confirm further weakness, while a move above the middle band would suggest a potential reversal or consolidation phase.

Volume & Turnover

Volume spiked to 5.8M during the early-morning sell-off between 01:15–01:45 ET, coinciding with a sharp drop in price from $0.02168 to $0.02142. This volume surge confirms the bearish move. However, notional turnover has not followed suit at recent lows, suggesting that while volume is high, liquidity or price impact per unit is weakening — a possible sign of exhaustion or a shift in market sentiment ahead.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $0.02186 to $0.02112, key levels now sit at 38.2% ($0.02148) and 61.8% ($0.02135). On the daily chart, a 61.8% retracement of the recent bear move from $0.0218 to $0.02121 lands near $0.02136, aligning with the 15-minute level and suggesting a potential confluence of support. A break below this level may target the next Fibonacci level at $0.02126.

Backtest Hypothesis

The backtest strategy involves entering short positions when the price breaks below the 20-period moving average on the 15-minute chart, with a stop-loss set above the recent swing high and a target at the next Fibonacci retracement level. Given the recent confluence at $0.02135–$0.02136 and the confirmed bearish divergence in the MACD, this strategy appears well-aligned with current market conditions. However, the RSI in oversold territory may create a short-term rebound, so entry timing should focus on confirmation after a rejection from the key support levels.

Looking ahead, SUNUSDT could test critical support levels near $0.02135 and $0.02126 in the next 24 hours. A bounce from these levels could trigger a retracement, but sustained bearish momentum is likely without a convincing break above the 50-period moving average. Investors should closely monitor for volume confirmation and divergence in the MACD and RSI, as these could signal a shift in momentum. As always, volatility and liquidity risks remain elevated for small-cap pairs like SUNUSDT.