Market Overview for Sun/Tether USDt (SUNUSDT) on 2025-09-10

• SUNUSDT opened at $0.02119, hit a high of $0.02134, and closed at $0.02064, recording a 24-hour low of $0.02022.
• Price action showed a sharp bearish reversal in late trading hours amid rising volume and bearish momentum.
• RSI approached oversold territory near the close, suggesting potential short-term exhaustion in the downward move.
• Volatility expanded through the session, with the largest swing occurring between 08:15–08:30 ET due to heavy selloffs.
• Notable bearish engulfing and hanging man patterns appeared in the final 4 hours of the 24-hour window.

The SUNUSDT pair opened at $0.02119 on 2025-09-09 at 12:00 ET and closed at $0.02064 on 2025-09-10 at 12:00 ET, reaching a high of $0.02134 and a low of $0.02022. Total volume over the 24-hour period was 141,319,854.0, with a notional turnover of $2,948,015.26. The pair experienced a sharp correction in the morning session, which accelerated in the afternoon and evening.

Structure & Formations

Key support levels were identified at $0.02064 and $0.02022, with the former being the most recent swing low. Resistance levels appeared at $0.02134 and $0.02119, both of which were broken earlier in the session. A bearish engulfing pattern formed around 08:15 ET when price closed at $0.02083 after opening at $0.02111 and hitting a high of $0.02111, signaling strong bearish pressure. A hanging man pattern was visible around 11:45 ET, suggesting potential reversal, though the trend continued downward.

Moving Averages

Short-term moving averages (20/50-period) on the 15-minute chart remained bearish, with the price trading below both lines, reinforcing the downward bias. On the daily chart, the 50-period SMA crossed below the 100 and 200-period SMAs, forming a death cross, which historically has been bearish for the pair.

MACD & RSI

MACD lines turned negative in the late afternoon and evening, confirming the bearish momentum, while the histogram showed increasing bearish divergence. RSI dropped to 27.3 near the close, indicating the price may be nearing oversold territory, potentially limiting further declines in the near term. However, as long as RSI remains below 30 and MACD stays negative, bears remain in control.

Bollinger Bands

Volatility expanded significantly in the morning session, with the Bollinger Band width peaking at ~2.8% around 08:30 ET. Price action hit the lower band around 15:45 ET and again at the close, suggesting that volatility may be exhausting and that a bounce could be due. The narrowing of bands in the early part of the session hinted at consolidation before the selloff began.

Volume & Turnover

Volume spiked sharply during the bearish move from $0.02134 to $0.02022, with the highest single-candle turnover occurring at 08:15 ET with $589,507.35 in turnover. The volume-to-price divergence was bearish, with increasing volume supporting the downward move. Turnover confirmed the bearish thesis, as selloffs were accompanied by rising volumes rather than price rejection.

Fibonacci Retracements

Key Fibonacci levels based on the last major swing from $0.02134 to $0.02022 included 23.6% at $0.02104, 38.2% at $0.02086, and 61.8% at $0.02043. Price found temporary support at $0.02064 and $0.02057, which are close to the 61.8% level. These retracements could serve as potential pivot points for the next 24 hours.

Backtest Hypothesis

Given the bearish structure and momentum observed today, a short-term mean reversion strategy could be tested by entering long positions when price bounces above the 61.8% Fibonacci level of $0.02043, especially if RSI shows a bullish divergence or MACD turns positive. A stop loss could be placed below the recent swing low at $0.02022. The strategy would aim to capitalize on a potential short-term rebound before resuming the longer-term bearish trend.