Market Overview for SushiSwap/Tether (SUSHIUSDT) on 2025-09-15

• Price declined from 0.8265 to 0.7737, indicating bearish dominance across the 24-hour period.
• Volume spiked dramatically during the 7:45–8:15 ET window, signaling heightened selling pressure.
• RSI and MACD showed weakening momentum and a clear oversold bias by 12:00 ET.
• A large bearish candle formed on the final 15-minute interval, confirming downside bias.
• Volatility expanded during the sell-off from 0.813 to 0.7737, with price trading below the 20-period moving average.

The SushiSwap/Tether (SUSHIUSDT) pair opened at 0.8044 on 2025-09-14 at 12:00 ET and closed at 0.7737 the following day. The price reached an intraday high of 0.8265 before declining sharply to a low of 0.7692. Total trading volume amounted to 1,936,244.0 USDT over the 24-hour period, with turnover concentrated in the late ET hours.

Structure & Formations

The price action shows a strong bearish trend over the 24-hour period, with a large-bodied candle forming around 7:45–8:15 ET as price dropped from 0.7952 to 0.7856. This was followed by a continuation of the downtrend, forming a series of lower highs and lower lows. A significant bearish engulfing pattern appeared around 8:15–8:30 ET, with a high of 0.7942 and a low of 0.7767. Additionally, the final candle before 12:00 ET was a bearish confirmation, closing at 0.7737 after opening at 0.7730.

Moving Averages

The 15-minute chart shows the price consistently below the 20-period and 50-period moving averages throughout the session. The 50-period MA was at ~0.8125 at the start of the session but drifted lower as the trend continued. On the daily chart, the 50-period MA is likely above current price levels, reinforcing the bearish bias. The 200-period MA appears as a key resistance level that the price may struggle to retest in the short term.

MACD & RSI

The MACD histogram showed a strong bearish divergence through the afternoon and evening ET hours, with the line crossing below the signal line early in the sell-off. RSI fell below 30 by 12:00 ET, indicating oversold conditions. However, this may not signal a short-term bounce, as the trend remains intact. The momentum appears to be exhausting at the lower end of the RSI scale, suggesting traders may be cautious about entering long positions.

Bollinger Bands

Volatility expanded during the sell-off, with price moving well below the lower Bollinger Band by early morning ET. The bands widened significantly as the downtrend continued. The current price of 0.7737 sits near the lower Bollinger Band, with the 20-period MA also below the midline, suggesting further downward pressure may follow if the trend continues.

Volume & Turnover

Trading volume surged between 7:45–9:15 ET, with the largest volume spike around 8:15 ET (~519k USDT) as price fell from 0.794 to 0.7767. This coincided with the largest bearish move of the day. Notional turnover also spiked during this period, aligning with the price action. No clear divergence was observed between price and volume, suggesting conviction in the bearish move.

Fibonacci Retracements

Fibonacci levels drawn from the 0.7692 low to the 0.8265 high show that the 0.7737 close is near the 61.8% retracement level. This level may act as a temporary support area. On the 15-minute chart, key retracement levels include the 50% (0.7978) and 78.6% (0.7819) levels, both of which were tested and broken during the sell-off.

Backtest Hypothesis

A potential backtest strategy could target entries at the 61.8% Fibonacci retracement level, with a stop loss below the 78.6% level and a target near the 50% retracement. This would imply a short-term range-bound strategy during a downtrend, capitalizing on pullbacks rather than chasing the trend. Given the RSI at oversold levels and the strong bearish bias, such a strategy could be applied with caution, using the Fibonacci levels to manage risk and reward.

Looking ahead, traders should monitor the 0.7700–0.7680 level as a potential near-term support area. A break below 0.7680 could accelerate the downtrend. However, any rebound toward the 50% Fibonacci level (~0.7978) should be approached with caution, as bearish momentum remains strong. Risk management is critical, as volatility and volume remain elevated.