Market Overview for SushiSwap/Tether (SUSHIUSDT) as of 2025-10-15

• SUSHIUSDT closed near session high, reflecting a bullish reversal in late afternoon ET.
• Volatility increased sharply during the 19:45 ET candle, indicating heightened market activity.
• RSI briefly oversold and then bounced, suggesting short-term momentum reversal.
• Volume confirmed price strength in the final 6 hours of the session.
• A bullish engulfing pattern formed near 0.5660, a key support level.

Structure & Formations

The 24-hour candle formed a bullish structure, opening at 0.5618 and closing near the high at 0.5851. A strong bullish engulfing pattern appeared between 19:45 ET and 20:00 ET as the price opened at 0.5679 and closed at 0.5749 after touching 0.5660 as support. The session’s lowest point at 0.5610 became a critical level of interest. Notable resistance appears to be forming at 0.5830–0.5850, where the RSI showed signs of topping and price action showed a pullback.

Moving Averages

On the 15-minute chart, the 20-period MA closely followed price action, showing responsiveness, while the 50-period MA acted as a dynamic support line in the afternoon. On the daily chart, the 200-period MA remains below the current price, indicating a long-term bullish bias. The 50/100-period MA crossover suggests ongoing accumulation, with price holding above the 100-period MA.

MACD & RSI

The MACD showed a bullish crossover near 19:30 ET and remained in positive territory for much of the session. RSI briefly entered oversold territory (30s) around 19:45 ET before rebounding above 50, suggesting a reversal in short-term momentum. The divergence between price and RSI in the early morning ET suggests caution ahead as buyers may be fatigued.

Bollinger Bands

Bollinger Bands expanded in the late afternoon, reflecting rising volatility. Price spent most of the session above the 20-period MA and near the upper band, indicating a strong trending move. The 0.5610 level served as a lower boundary and coincided with the lower Bollinger Band, suggesting potential for a bounce.

Volume & Turnover

Volume peaked at 288,755.1 around 19:45 ET when the price hit 0.5660. This was followed by a rapid recovery, confirming strength. Notional turnover increased by nearly 3x over the morning session, suggesting increased participation. However, volume and price began to diverge in the early morning as price declined but volume remained high, hinting at possible profit-taking or order imbalances.

Fibonacci Retracements

Fib levels on the 15-minute move from 0.5610 to 0.5897 showed key retracement levels at 0.5782 (38.2%) and 0.5721 (61.8%). The 0.5760–0.5780 zone appears to be a consolidation area ahead of further upside. Daily Fib levels show 0.5660 (61.8% retest) as a strong support, with 0.5897 the recent swing high.

Backtest Hypothesis

The backtest results suggest a long-biased strategy over the past three years, yielding a 57.5% return with a 13.9% annualized rate. The 51.4% max drawdown indicates a volatile but trend-following approach. A key implication is that the recent structure aligns well with this strategy’s assumptions—namely, that bullish reversals and consolidation above key Fib and MA levels may provide high-probability entry points. The 24-hour action validates the model’s directional bias, though increased volatility and divergences suggest potential for a near-term correction.