Market Overview for SushiSwap/Tether (SUSHIUSDT) – 24-Hour Summary (2025-10-03)

• SushiSwap/Tether (SUSHIUSDT) closed near its high after a strong bullish breakout from early support.
• Volume and turnover surged during key buying sessions in the overnight hours.
• RSI and MACD show strong bullish momentum, suggesting a continuation of upward bias.
• Bollinger Bands tightened before the breakout, followed by a sharp expansion and price rejection of the lower band.
• Fibonacci retracements highlight potential resistance near 0.7235 and support at 0.7135 for near-term trading decisions.

SushiSwap/Tether (SUSHIUSDT) opened at 0.7025 on 2025-10-02 at 16:00 ET and closed at 0.7194 on 2025-10-03 at 12:00 ET. The pair reached a high of 0.7304 and a low of 0.7075 during the 24-hour period. Total volume for the period was approximately 1,927,584.6 with a notional turnover of ~$1,374,176.3 (based on volume and average close price).

The price action over the 24 hours shows a strong reversal to the upside. A bearish consolidation developed early in the morning on 2025-10-02, with a breakdown attempt below 0.7099 failing, triggering a sharp reversal into the overnight hours. On the 15-minute chart, the price formed a bullish engulfing pattern at 19:30–19:45 ET, followed by a long white candle at 20:00–20:15 ET, which confirmed the breakout. Support levels identified include 0.7075–0.7099 (key early support), and 0.715–0.717 (rejection area during the consolidation phase). Resistance levels at 0.7208–0.7235 were tested and partially held.

The 20-period and 50-period moving averages on the 15-minute chart were both below the price for most of the session, signaling strong momentum to the upside. On the daily timeframe, the 50-period MA crossed the 100-period MA slightly to the upside, indicating a potential shift toward bullish sentiment. MACD remained above its signal line for the last 6 hours of the session, with a growing positive histogram. The RSI climbed from ~45 to ~65, entering a neutral to overbought territory, but without a clear divergence from price, suggesting that the bullish trend may persist. Bollinger Bands tightened during the consolidation phase, followed by a sharp expansion after the breakout, with the price now trading near the upper band, signaling a potential pause or pullback.

The 15-minute Fibonacci retracements drawn from the recent 0.7075 low to the 0.7304 high highlight key levels: the 38.2% retracement at ~0.719 and the 61.8% at ~0.724. These levels align with the current price and potential near-term resistance. The 50-period EMA on the 15-minute chart crossed above the 20-period EMA at ~0.7175, confirming the bullish momentum. Volume spiked notably during the breakout, with the largest single-volume candle occurring between 19:30–19:45 ET. Turnover also spiked during this period, confirming the price move.

Backtest Hypothesis

A potential backtest strategy could be to enter long positions on SUSHIUSDT at the close of a bullish engulfing pattern that forms after a period of consolidation and below the 50-period EMA. This setup should be confirmed with a break above the 20-period EMA and a MACD histogram turning positive. A stop-loss could be placed below the most recent swing low, with a target at the 38.2% Fibonacci level. Given the recent price action, this strategy aligns with the observed breakout from 0.7099–0.7154 and the confirmation candle at 20:00–20:15 ET. A backtest would need to evaluate how this pattern performs in similar setups across multiple cycles to determine robustness.