Market Overview for SUNUSDT: 24-Hour Summary (2025-09-11)

• Price opened at $0.02063 and climbed to a high of $0.02105 before closing at $0.02096
• Volatility increased with Bollinger Band expansion and key resistance tested at $0.02102
• Volume surged during the $0.02104 peak, confirming upward price action
• RSI showed overbought conditions, suggesting possible near-term pullback

Sun/Tether USDt (SUNUSDT) opened at $0.02063 at 12:00 ET-1 and reached a high of $0.02105 during the 24-hour period, before closing at $0.02096 at 12:00 ET. The total volume traded was 10,944,266.0 tokens, with notional turnover of approximately $228,631.60.

Structure & Formations

The price of SUNUSDT formed a bullish breakout pattern during the morning hours as it surged above the key resistance level of $0.02102. The candlestick structure showed a long bullish shadow during the session, suggesting strong buying pressure. A notable bullish engulfing pattern formed at $0.02092 and confirmed the reversal from a prior bearish trend. The price also formed a doji candle at $0.02095, indicating indecision among traders.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended upwards during the period, supporting the bullish momentum. On the daily chart, the price remained above the 50, 100, and 200-period moving averages, suggesting that the long-term trend remains upward. The 50-period moving average crossed above the 100-period line, a positive sign for continuation of the bullish phase.

MACD & RSI

The MACD showed a positive divergence, confirming the upward momentum during the peak session. The RSI reached overbought territory, peaking at 72 during the morning hours, which indicates a potential correction in the near term. The RSI line formed a bearish divergence, suggesting a possible bearish reversal from the current high.

Bollinger Bands

Volatility expanded significantly as the price moved from the lower to the upper Bollinger Band. The price touched the upper band at $0.02105, indicating strong overbought pressure. The band width increased from 0.00004 to 0.00006 during the session, suggesting heightened market uncertainty and potential consolidation ahead.

Volume & Turnover

Volume surged to over 2.4 million tokens during the peak at $0.02104, confirming the bullish breakout. Turnover also rose in line with the price action, indicating no significant divergence. The highest turnover occurred around $0.02103, where the price consolidated briefly after the peak. Overall, volume and price action were aligned, reinforcing the reliability of the bullish breakout.

Fibonacci Retracements

On the 15-minute chart, the price found support at the 61.8% Fibonacci level at $0.02094 before continuing the upward trend. On the daily chart, the price is currently testing the 38.2% Fibonacci retracement level of a prior downward swing, suggesting that a continuation of the bullish trend may be on the cards if this level holds.

Backtest Hypothesis

A potential backtesting strategy for SUNUSDT could involve entering long positions when the price breaks above the 20-period moving average on the 15-minute chart, with a stop-loss placed at the most recent support level and a target at the nearest Fibonacci resistance. During the current session, such a strategy would have entered a long position at $0.02071, with a stop-loss around $0.02063 and a target at $0.02102. The strategy would have captured the upward move and exited at the peak with a gain of approximately $0.00031, indicating its potential effectiveness in this market environment.