Market Overview for Sushiswap (SUSHIUSD) – 2025-09-04 12:00 ET

• SUSHIUSD consolidates near 0.768, forming a potential bearish reversal pattern at 0.775.
• Price has declined ~1.6% over the 24-hour period with minimal volatility observed.
• Volume surged at 02:45 ET and again at 15:15 ET, aligning with key price breakdowns.
• RSI and MACD suggest weakening momentum, with price near 38.2% Fibonacci retracement.
• No significant expansion in Bollinger Bands observed; sideways consolidation continues.

Sushiswap’s (SUSHIUSD) 24-hour session opened at 0.775 (12:00 ET-1), reached a high of 0.775, and closed at 0.750 at 12:00 ET. The low was 0.750. Total volume across the 24-hour period was 1,002.0, with a total notional turnover of approximately 756.0 USD. Price action remains compressed within a narrow range, with late afternoon activity showing breakdown signals.

Structure & Formations

Price action has remained flat for the majority of the day, with no directional impulse evident. A key breakdown occurred at 02:45 ET when price dropped from 0.775 to 0.768, forming a bearish inside bar pattern. Later, a breakdown to 0.750 at 15:15 ET followed a bearish engulfing pattern. These setups indicate potential exhaustion of the bullish momentum and possible continuation of the downward drift. Key support is forming at 0.750, with prior resistance now acting as a new pivot.

Moving Averages

On the 15-minute chart, the 20-period MA appears to be slightly above price action, indicating bearish bias. The 50-period MA has crossed below the 20-period MA, reinforcing the bearish tilt. On the daily chart, the 50-period MA remains above the 200-period MA, suggesting a medium-term bearish outlook. Price is currently below both 50-period and 100-period moving averages, aligning with a continuation scenario.

MACD & RSI

The MACD line is negative with bearish divergence, and the signal line is declining, suggesting weakening momentum. RSI has dropped below 50 and is approaching 40, indicating oversold conditions. However, RSI does not show a clear oversold bounce, which suggests buyers may be hesitant. The MACD histogram is narrowing, signaling potential exhaustion.

Bollinger Bands

Bollinger Bands have remained relatively narrow for the past 24 hours, indicating low volatility. Price has remained near the lower band in the latter half of the session, reinforcing a bearish scenario. No significant breakouts from the band have occurred, and no expansion in volatility has been observed.

Volume & Turnover

Volume saw notable spikes at 02:45 ET and again at 15:15 ET, corresponding with key price breakdowns. These surges were accompanied by a drop in price, indicating selling pressure. Notional turnover aligned with volume spikes and confirmed bearish price action. No divergence between volume and price was observed, suggesting that price movements were well-supported by on-chain activity.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute high (0.775) to the recent low (0.750), the price currently sits near the 38.2% retracement level at 0.768. A breakdown below 0.750 could trigger a retest of 61.8% at ~0.763. A failure to hold 0.750 would open the path to potential support at 0.750. Buyers may look to defend 0.750 in the next 24 hours.

Backtest Hypothesis

The backtest strategy described suggests a short-term bearish approach triggered by a breakdown of the 0.775 level with confirmation by a bearish engulfing pattern and a closing price below 0.768. The exit condition is based on a 3% stop-loss or a retest of the 0.750 level as a potential reversal zone. Given the recent price behavior and the alignment of candlestick formations with this setup, the strategy could be validated by monitoring whether SUSHIUSD continues to trend downward or if a bullish bounce emerges from key Fibonacci levels and moving average crossovers. The next 24 hours will be crucial in confirming the bearish thesis or signaling a potential reversal.