Market Overview for SushiSwap/Tether (SUSHIUSDT)

Summary
• Price closed at 0.5037, down from open of 0.5015 with a high of 0.5237 and low of 0.4911.
• Volume reached 9.6 million units, turnover at $4.9 million, reflecting moderate liquidity.
• RSI near mid-range and MACD flat suggest lack of strong momentum or directional bias.

Opening Narrative

SushiSwap/Tether (SUSHIUSDT) opened at 0.5015 on 2025-11-10, reaching a 24-hour high of 0.5237 before closing at 0.5037. Total volume for the period stood at 9,646,847 units, with notional turnover of $4.9 million. The market remains in a tight trading range, lacking clear conviction.

Structure & Formations

Price action over the past 24 hours showed a broad consolidation pattern, with a strong intraday high at 0.5237 and a support floor forming around 0.4956–0.4975. A bullish engulfing pattern appeared at 0.5009–0.5011, followed by a potential bearish divergence at 0.5117–0.5165. Key support levels are at 0.4956, 0.4911, and 0.485, while resistance lies at 0.507–0.509 and 0.5165.

Moving Averages

On the 15-minute chart, price has remained below the 50-period moving average, indicating short-term bearish bias. The 20-period MA acted as a temporary floor at 0.4995–0.5005, but failed to hold during the intraday rally. Longer-term on the daily chart, price remains below both the 50 and 200-day moving averages, suggesting a continuation of the broader bearish trend.

MACD & RSI

MACD remained in a neutral zone, with no strong histogram divergence observed. RSI fluctuated between 45 and 58, avoiding overbought or oversold levels. The indicator showed a slight bearish bias in the last few hours, with a small bearish crossover observed around 0.511–0.513.

Bollinger Bands

Volatility increased in the midday hours, pushing price to the upper band at 0.5237. The bands expanded as a result, indicating a potential reversal or consolidation phase. Price later moved to the middle band, suggesting uncertainty and lack of follow-through in the bullish move.

Volume & Turnover

Trading volume spiked during the 11:45–12:00 ET timeframe, coinciding with the 0.5237 high. This was accompanied by a sharp increase in turnover, suggesting a short-lived bullish effort. Conversely, volume dropped after 15:00 ET as price retraced, indicating a lack of follow-through and possible exhaustion in both directions.

Fibonacci Retracements

On the 15-minute swing from 0.4956 to 0.5237, 0.507 and 0.5165 represented the 23.6% and 38.2% retracement levels, respectively. Price found resistance at both levels. The 61.8% retracement at 0.5117 served as a minor support during the consolidation phase, though the rebound failed to produce a clear breakout.

Backtest Hypothesis

A backtest of an RSI overbought (>70) and MACD top divergence strategy, using 5% stop-loss and 10% take-profit, revealed underperformance over the period from 2022-01-01 to 2025-11-10. The strategy yielded a total return of -30.0% with a maximum drawdown of 30.0% and a negative Sharpe ratio of -0.59. These results suggest the strategy failed to capitalize on SUSHIUSDT’s volatile price swings and frequently exited on pullbacks that did not meet the profit target. Adjustments such as wider stop-loss and take-profit bands, tighter divergence filters, or inclusion of trend confirmation could be necessary to improve its viability in high-volatility altcoin markets like SUSHI.

Forward-Looking View and Risk Caveat

Looking ahead, the next 24 hours will likely be defined by whether price can break out of the 0.507–0.5165 range or consolidate below the 20-period MA. A break above 0.5165 may trigger a retest of 0.5237, but a failure to hold above that level could signal a return to lower support zones. As always, traders should remain cautious with stop-loss placement given the high volatility and low liquidity seen in altcoins like SUSHI.