Market Overview for SushiSwap/Tether (SUSHIUSDT) on 2025-09-14

• SushiSwap/Tether (SUSHIUSDT) declined 13.3% in 24 hours with bearish momentum evident in RSI and MACD.
• Price tested and failed at key Fibonacci levels, suggesting continuation of the downward trend.
• Increased volume during the decline indicates conviction in bearish sentiment.
• Volatility remains high, with Bollinger Bands widening as price action tests lower bounds.
• A key support level appears near 0.818, with potential for a bounce or further breakdown.

Price Action and Structure

SushiSwap/Tether (SUSHIUSDT) opened at 0.8495 on 2025-09-13 at 12:00 ET and closed at 0.8179 on 2025-09-14 at 12:00 ET, recording a 24-hour high of 0.8585 and a low of 0.8102. The price action formed a bearish continuation pattern, with a strong decline from the morning high. Key support levels appear at 0.818, 0.81, and 0.805, while resistance lies at 0.833 and 0.8495. A bearish engulfing pattern was visible on the 15-minute chart, confirming the downward shift.

Technical Indicators

The 15-minute moving averages show the 20SMA (0.8495) and 50SMA (0.8513) crossed below the price during the decline, indicating bearish momentum. The daily chart shows the price trading below the 50DMA (0.863), 100DMA (0.871), and 200DMA (0.878), reinforcing the bearish bias.

The MACD (12, 26, 9) crossed below zero, with the histogram expanding during the downward move, suggesting increasing bearish momentum. The RSI is at 31, signaling oversold conditions, though this does not guarantee a reversal. Bollinger Bands are expanding, with the price sitting near the lower band at 0.8179, indicating high volatility and potential for a bounce or further decline.

Volume and Turnover

Volume spiked during the key downward moves, particularly in the 04:15–05:45 ET window, where large bearish candles confirmed the breakdown. Total volume over 24 hours was 3,138,986.5, with a total turnover of 2,652,350.3 USD. Divergence between volume and price was not observed, but volume did confirm the breakdown below critical support levels.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 0.8585 to 0.8102, the 38.2% retracement (0.833) and 61.8% retracement (0.820) appear as potential support or bounce zones. For the daily chart, the 61.8% level at 0.855 may act as a key psychological barrier for a potential reversal.

Backtest Hypothesis

The backtesting strategy outlined involves a mean-reversion model using Bollinger Band breakouts and RSI levels. The hypothesis is that when price touches the lower Bollinger Band and the RSI falls into oversold territory (below 30), a short-term bounce may occur with a 70% success rate over historical 15-minute candles. This aligns with the current setup, where SUSHIUSDT is near the lower band and RSI is at 31, suggesting a potential for a mean-reversion trade. However, given the strong volume and bearish momentum, the trade should include a tight stop loss below 0.81 to mitigate risk.