Market Overview for SushiSwap/Tether (SUSHIUSDT) as of 2025-11-11

Summary
• SUSHIUSDT opened at $0.4998 and closed at $0.5476, with a high of $0.6168 and a low of $0.4911.
• Volatility expanded significantly, with price swinging over 20%.
• Daily RSI hit overbought territory, and 15-minute volume surged in late hours.

SushiSwap/Tether (SUSHIUSDT) opened at $0.4998 and closed at $0.5476 within the 24-hour period ending at 12:00 ET on 2025-11-11. The pair reached a high of $0.6168 and a low of $0.4911, with the total volume recorded at 8,936,383.8 units and a notional turnover of $4,883,835.25. Momentum appears to have accelerated late in the session, particularly after 20:00 ET on 2025-11-10.

The 15-minute chart reveals a complex price structure with strong resistance around $0.57–0.58 and support levels forming at $0.54–0.55 and $0.53–0.52. A series of bullish engulfing patterns emerged in the late session, particularly around the $0.51–0.54 range, suggesting a reversal from bearish momentum. A bearish doji appears near $0.57, which may indicate a short-term topping signal. The 20-period moving average is rising sharply, now above the 50-period line, forming a golden cross that supports further upside. On the daily chart, the 50/100/200 SMA are broadly aligned, with the 200SMA acting as a critical support line near $0.53–0.54.

Momentum indicators showed mixed signals. The 15-minute MACD crossed above the signal line in the final hours, confirming bullish momentum. RSI climbed into overbought territory for much of the session, peaking near 80 at $0.56–0.57, with a bearish divergence forming as volume tailed off after the high. Bollinger Bands expanded significantly as price moved from the lower band to the upper band, indicating heightened volatility. Price closed near the upper band, suggesting overbought conditions and potential for pullback.

Volume spiked dramatically in the 19:30–21:45 ET period, peaking at over 4.2 million units and coinciding with the $0.56–0.61 swing. Notional turnover confirmed these spikes, indicating genuine liquidity participation rather than wash trading. Fibonacci retracement levels drawn from the $0.49–0.61 swing show 0.618 at $0.555 and 0.382 at $0.532. Price closed just below the 0.618 level, suggesting a potential consolidation or short-term reversal could be at hand.

Backtest Hypothesis
The recent overbought condition observed in the RSI-14 (peaking near 80) aligns with historical patterns in SUSHIUSDT, where overbought signals have shown positive excess returns over a 3–20 trading-day window. This suggests the current momentum could extend beyond the immediate 48-hour period, particularly if volume remains supportive and price stays above key moving averages. However, the bearish doji near $0.57 and RSI divergence caution against overextending long positions without a clear risk management framework.