Market Overview for Sushiswap (SUSHIUSD): Consolidation and Volatility in 24 Hours

• SUSHIUSD traded in a narrow range for most of the 24 hours, consolidating near $0.786 before dropping sharply into the early morning.
• A sudden plunge to $0.0 was observed around 03:45–04:00 ET, followed by a partial rebound to $0.751 by 05:15 ET.
• Volume remained extremely low until a spike of $217.7 occurred during the 05:15 ET candle, marking the first significant turnover.
• A second volume surge of $443.9 and a bullish move to $0.754 was observed in early morning trading.
• A bearish move later in the day pushed price to $0.761 at the 12:00 ET close, with no meaningful reversal signals yet.

Price Action and Key Levels

Sushiswap’s SUSHIUSD opened at $0.786 on 2025-09-01, with a high of $0.786 and a low of $0.0 during the 24-hour period. By the close at 12:00 ET, the price had settled at $0.761. Total volume for the period was 1,784.1, with total turnover reaching $1,189.3. The price action suggests a long period of consolidation before a sharp selloff, followed by a partial recovery and a final bearish push into the close.

Key support levels appear to be forming around the $0.751–0.761 range, as price found resistance at $0.771 after a modest rebound. No strong candlestick patterns like engulfing or doji were observed, but a potential bearish divergence may emerge if price fails to retest the $0.771 level.

Indicators and Momentum

The RSI and MACD signals are difficult to interpret due to the lack of consistent price movement, but the 20-period and 50-period moving averages on the 15-minute chart suggest a short-term bearish bias following the 05:15 ET sell-off. The daily chart remains neutral, with the 50-period MA hovering just below the current price level.

Volatility expanded sharply during the early morning selloff and later in the day during the pullback, but it has since stabilized. Price is currently hovering near the middle Bollinger Band, suggesting moderate uncertainty.

Fibonacci and Reversal Potential

Applying Fibonacci retracement levels to the recent bearish move from $0.786 to $0.761, the 23.6% and 38.2% levels coincide with $0.776 and $0.772, respectively. These levels may offer potential resistance if a short-term rebound occurs. A break below $0.761 would trigger the 61.8% retracement level at $0.753, which has already been partially tested and is likely to serve as support.

Volume spiked during the 05:15 ET and 14:30 ET candles, both of which saw meaningful price movement. However, the volume-to-price relationship suggests that the bounce to $0.771 may not hold unless accompanied by a significant increase in turnover.

Backtest Hypothesis

The backtest strategy involves a trend-following approach based on the 50-period moving average on a 15-minute chart. When price crosses above the MA with volume increasing by at least 100%, a long position is initiated. A stop-loss is placed below the most recent swing low, and a take-profit is set at the nearest Fibonacci retracement level. Given the recent price action, a similar strategy could have captured the early morning rebound if volume had been sufficient to confirm the signal. However, the sharp drop into the close highlights the risk of false breakouts and the importance of volume confirmation in volatile assets like SUSHIUSD.

Looking ahead, SUSHIUSD appears to be in a phase of retesting key support levels. A break below $0.761 could trigger a deeper correction, while a sustained rebound above $0.771 may indicate short-term buying interest. Investors should remain cautious of volatility and watch for confirmation in both volume and momentum indicators over the next 24 hours.