Market Overview for SushiSwap (SUSHIUSDT): 24-Hour Analysis

• SushiSwap traded lower overnight but rebounded during the day, forming a bullish reversal pattern near 0.784–0.786.
• Increased volume and declining RSI suggest growing momentum in the short-term rally.
• Price remains below key 20-period MA on the 15-min chart, signaling ongoing bearish pressure.
• Volatility expanded after midday ET, with Bollinger Bands widening to reflect renewed buying interest.
• 61.8% Fibonacci retracement near 0.790–0.792 could be a near-term resistance zone.

SushiSwap (SUSHIUSDT) opened at 0.834 on 2025-08-24 at 12:00 ET and closed at 0.7811 by 12:00 ET the following day. The 24-hour range extended from 0.8566 (high) to 0.7726 (low), with a total trading volume of 8,984,855.9 units and a notional turnover of approximately $7,200,000 (assuming $1 = 1 USDT).

Structure & Formations

The price formed a potential bullish reversal pattern during the 13:00–14:00 ET timeframe, where a long lower wick and a close above the mid-body signaled a rejection of lower levels. Key support levels are currently at 0.784 (tested twice) and 0.776–0.777. On the upper side, a 61.8% Fibonacci retracement at 0.790–0.792 may act as a dynamic resistance if buyers continue to show strength.

Moving Averages

On the 15-minute chart, the 20-period moving average has remained above price action for most of the day, reinforcing the bearish bias. However, a short-term crossover above the 20 MA during the 10:00–11:00 ET period indicates some reentry from short-term traders. On the daily chart, the 50-period MA currently lies at ~0.800 and appears to be acting as a psychological resistance.

MACD & RSI

MACD has shown a narrowing negative divergence in the last 4 hours, suggesting reduced downward momentum. RSI, currently at ~48, is approaching neutral territory after a prolonged dip below 35 earlier in the day, indicating a potential exhaustion of sellers. While not overbought, the RSI rise could hint at a short-term bottoming process.

Bollinger Bands

The bands widened significantly during the 15:00–17:00 ET period, suggesting heightened volatility and increased market participation. Price has since remained within the upper and lower bands but has shown a tendency to test the lower band multiple times, suggesting potential for a bounce.

Volume & Turnover

Volume spiked during the 19:30–20:00 ET timeframe, coinciding with a sharp sell-off and a drop to 0.8282. However, buying interest picked up post-10:00 ET, with volume increasing as price rose from 0.777 to 0.790. The divergence between falling price and rising volume in the 08:30–10:30 ET window suggests some short-covering or accumulation may have occurred.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from 0.8566 (high) to 0.7726 (low) shows critical retracement levels at 0.810 (38.2%), 0.790 (61.8%), and 0.780 (78.6%). Price appears to have found support near the 78.6% level and may attempt a test of the 61.8% level next.

SushiSwap appears to be navigating a potential short-term bottoming process, supported by technical indicators and volume patterns. The next 24 hours will likely determine whether buyers can push price above 0.790 or if sellers reassert control, potentially dragging it back down to 0.775–0.776. Investors should watch for confirmation of a breakout above 0.790 before taking long positions.