Market Overview for SushiSwap/Tether (SUSHIUSDT)

• SushiSwap/Tether (SUSHIUSDT) closed at 0.7752 after a 24-hour low of 0.7684 and a high of 0.8269.
• Price action shows a bearish trend with a 7.47% decline in the last 24 hours.
• Volatility spiked during the early hours of ET, with a 5-hour range between 0.8222 and 0.8302.
• RSI and MACD suggest oversold conditions and weakening bullish momentum.
• Volume surged in the early morning (ET) but declined sharply mid-day, signaling bearish exhaustion.

The SushiSwap/Tether pair (SUSHIUSDT) opened at 0.8131 on 2025-09-18 at 12:00 ET, reached a high of 0.8302, fell to a low of 0.7684, and closed at 0.7752 at 12:00 ET the following day. Total volume over the 24-hour window was 2,996,866.5 and notional turnover amounted to $2,436,622.45 (calculated by summing volume × close for each 15-minute candle). The price action reflects a bearish consolidation, with a key support level emerging near 0.774–0.776 and a failed test of resistance at 0.800.

Structure & Formations

Price action on SUSHIUSDT displayed a bearish continuation, with a key support zone forming around 0.774–0.776. A long bearish candle on 2025-09-19 at 04:15 ET (0.8012–0.7913) formed a bearish engulfing pattern, confirming the downtrend. A doji near 0.780 in the mid-day suggests short-term indecision, though the overall structure remains bearish. Resistance levels are clustered around 0.790 and 0.800, with a prior failed breakout from the 0.800–0.810 range in the afternoon.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are bearishly aligned, with the 50-period lagging the 20-period. On the daily chart, the 50-period SMA crossed below the 200-period SMA, signaling a bearish crossover (death cross). The 100-period SMA also sits above the 50-period, reinforcing the bearish bias. Price is well below all key moving averages, indicating a strong downtrend.

MACD & RSI

The MACD has turned negative, with the line crossing below the signal line mid-day on 2025-09-19, reinforcing the bearish momentum. The histogram has also contracted, suggesting weakening downward pressure. The RSI is currently at 30, indicating oversold conditions, but the divergence between price and RSI is not strong enough to suggest a reversal. Momentum appears to be exhausting on the downside, but a bounce could still occur if volume supports a rebound.

Bollinger Bands

Volatility expanded significantly in the early hours of ET with a range of 0.800–0.8302, then contracted around mid-day as the price moved into a tighter range near 0.780–0.790. The price has since remained in the lower half of the bands, suggesting continued bearish pressure. A breakout above the 0.790 level could lead to a temporary expansion of volatility and potential short-term reversal.

Volume & Turnover

Volume peaked early in the morning with a 15-minute candle at 01:00 ET showing 81,824.0 volume and a high of 0.8302. However, after 04:00 ET, volume gradually declined, even as the price continued to fall, signaling bearish exhaustion. Notional turnover mirrored this trend, with the highest turnover at 01:00 ET ($66,685.64) and a sharp drop-off after 06:00 ET. The lack of buying pressure suggests that the bearish move is not being driven by institutional or large participants.

Fibonacci Retracements

Applying Fibonacci retracements to the 0.7684–0.8302 swing, the 38.2% level is at 0.7978 and the 61.8% level is at 0.7831. Price tested 0.7831 in the late afternoon and fell further, suggesting it could act as a short-term support if volatility increases. On a daily timeframe, Fibonacci levels from the 0.800–0.780 range highlight 0.789 and 0.782 as key levels for potential bounces or breakdowns.

Backtest Hypothesis

A backtesting strategy based on the MACD crossover and RSI levels could be used to identify potential short-term bounces in SUSHIUSDT. For instance, an entry signal could be triggered when the MACD line crosses above the signal line and RSI rises above 30, suggesting a possible oversold bounce. A stop-loss could be placed below the nearest Fibonacci or support level, with a take-profit at the 38.2% or 50% retracement level. This approach could be effective in a range-bound or consolidating market but may struggle during sharp breakouts or high-volatility events.