Market Overview for Sushiswap (SUSHIUSD): Low Volatility and No Directional Bias

• Sushiswap traded in a narrow range near $0.783 for most of 24 hours, with minimal volatility.
• No significant candlestick patterns emerged, and price did not break above the 0.784 resistance level.
• Volume remained at zero for nearly all 15-minute intervals, indicating low liquidity and trading interest.
• RSI and MACD showed no momentum shift, with the RSI stagnating near the neutral zone.
• Bollinger Bands remained tightly contracted, signaling a period of consolidation.

Market Overview for Sushiswap (SUSHIUSD): Low Volatility and No Directional Bias

Sushiswap (SUSHIUSD) opened at $0.784 on 2025-08-28 at 12:00 ET and closed at $0.783 the following day at 12:00 ET. The 24-hour trading range remained confined between $0.783 and $0.784, with no directional bias. Total volume was effectively zero for most of the period, and the average notional turnover per 15-minute interval was minimal.

Structure & Formations

The price action formed a tight sideways consolidation pattern over the 24-hour period. The key support level at $0.783 held firm throughout, with no bearish breakdown attempt observed. The resistance at $0.784 also remained intact, with price failing to close above it. No significant candlestick patterns—such as engulfing, doji, or harami—were formed, as most candles were either flat or had negligible range. The lack of price movement suggests limited conviction from traders on either side of the market.

Moving Averages and Momentum

On the 15-minute chart, the 20- and 50-period moving averages aligned closely with the price due to the lack of movement, reinforcing the flat profile. The daily timeframe would likely show a similar consolidation, with the 50, 100, and 200-period moving averages converging near the current price. The MACD histogram remained flat, showing no momentum, while the RSI lingered near the 50 level, indicating neutral market sentiment with no overbought or oversold signals.

Bollinger Bands and Volatility

Bollinger Bands were tightly contracted throughout the 24-hour period, signaling low volatility and a potential prelude to a breakout. The price remained near the middle band, with no expansion in the bands observed. This suggests traders are waiting for a catalyst or news event to break the current range. The lack of volatility may also point to a period of uncertainty or reduced liquidity, as seen in the near-zero volume.

Backtest Hypothesis

To evaluate the behavior of Sushiswap (SUSHIUSD) around the $0.783 level, a backtest strategy has been outlined. The approach involves identifying every instance where the asset tested this key support level between 2022-01-01 and 2025-08-29. Unfortunately, retrieving the required historical data has proven unfeasible with the current data source. To proceed, two options are available: either link an authorized data provider (e.g., TradingView, Binance) to fetch this data or manually provide the relevant dates when SUSHIUSD tested $0.783 in the past. With this information, the backtest can be executed with predefined entry, stop-loss, and take-profit rules.

The market may remain in a tight consolidation for the next 24 hours unless a strong catalyst emerges. Traders should watch for a potential breakout above $0.784 or a breakdown below $0.783 to gauge the next directional move. However, with current volume levels near zero, any move should be treated with caution, as it may lack sustainability.