Market Overview for SushiSwap/Tether (SUSHIUSDT) – 2025-10-31

• Price declined from 0.4831 to 0.4954, showing a strong bullish reversal after a 6-hour bearish phase.
• RSI suggests moderate momentum, with no overbought or oversold signals.
• Volume surged near the close, indicating renewed buying interest.
• Bollinger Bands show a recent expansion, signaling rising volatility.
• A bullish engulfing pattern formed near the close, suggesting short-term buying pressure.

SushiSwap/Tether (SUSHIUSDT) opened at 0.4831 on 2025-10-30 at 12:00 ET and reached a low of 0.4715 before closing at 0.4954 as of 2025-10-31 12:00 ET. Total volume reached 829,741.0 (notional turnover based on 15-minute intervals), with a high of 0.4842 and a low of 0.4670 over the 24-hour window.

Structure & Formations

Price initially declined in a tight consolidation range before breaking out with a strong bullish reversal in the late hours of the session. A key support level formed around 0.4715, where price bounced with a bearish reversal candle. A bullish engulfing pattern emerged near the close, suggesting short-term buying interest. A 61.8% Fibonacci retracement level aligned closely with the 0.4930-0.4950 range, reinforcing the likelihood of a short-term bullish continuation.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in a golden cross formation just before 23:00 ET, confirming the shift to a bullish bias. The 50-period MA crossed above the 200-period MA on the daily chart, indicating a longer-term bullish trend. This alignment supports the view that the current price action is part of a broader uptrend.

MACD & RSI

The MACD crossed into positive territory at around 22:00 ET, confirming the shift in momentum. RSI remains within a neutral range (45–60), suggesting balanced buying and selling pressure. No overbought or oversold conditions were observed, but the RSI divergence near the 0.4715 low supports a potential rebound.

Bollinger Bands

Bollinger Bands expanded significantly during the late trading hours, reflecting increased volatility. Price closed near the upper band, indicating strong bullish momentum. A retest of the 0.4800–0.4830 range could trigger a pullback to the 0.4900 level, which is within the lower band.

Volume & Turnover

Volume spiked during the final hour of the session, particularly as price surged above 0.4950. Notional turnover also increased in line with the price action, supporting the bullish breakout. A divergence between volume and price was noted earlier in the session, where price declined with lower volume, suggesting limited bearish conviction.

Fibonacci Retracements

Applying Fibonacci levels to the 0.4715–0.4954 swing, the 61.8% level is at 0.4865, which now acts as a key support. On the daily chart, the 50% retracement of the previous week’s low-to-high range aligns with 0.4830, a potential area for consolidation.

Backtest Hypothesis

The recent price action aligns with the logic of the described backtesting strategy, which relies on a “Hold 1 day” rule and stop-loss/take-profit parameters. The sharp move above 0.4950 could have triggered a long entry based on a closing above the prior day’s high, with a target of 0.5000 and a stop at 0.4890. The MACD and RSI confirm the momentum, while Bollinger Bands suggest volatility is likely to persist. The backtest’s 12.2% total return over 4 years, albeit with a low Sharpe ratio, highlights the importance of risk management in high-volatility assets like SUSHIUSDT.

Looking ahead, the 24-hour period could see further upside if buyers remain aggressive at the 0.4950–0.4980 level, but traders should remain cautious of potential profit-taking at these levels. A breakdown below 0.4900 could trigger a retest of the 0.4865 Fibonacci support. Volatility remains elevated, and sudden reversals are possible in the current market environment.