Market Overview for SushiSwap/Tether (SUSHIUSDT)

• Price opened at $0.4849 and closed at $0.4962 after volatile swings to $0.5154 and $0.4796.
• Key support at $0.4905 and resistance near $0.5059 showed mixed follow-through.
• Volume spiked during the $0.5113–$0.5051 pullback and again at the final $0.4850–$0.4962 rally.
• RSI moved into overbought territory twice, indicating uneven momentum.
• Volatility expanded in the early ET hours, with Bollinger Bands widening past 5% range.

The SushiSwap/Tether (SUSHIUSDT) pair opened at $0.4849 on 2025-11-07 at 12:00 ET and closed at $0.4962 on 2025-11-08 at 12:00 ET, after a 24-hour range of $0.4794 to $0.5154. Total trading volume reached 5,803,258.8 with a notional turnover of $2.96 million. The price action showed mixed momentum, with sharp rallies and retracements indicating a tug-of-war between bulls and bears.

Structure & Formations

The candlestick pattern displayed alternating bullish and bearish impulses, with a key reversal forming at $0.4905. A doji-like formation at $0.5113 suggested indecision, while a bullish engulfing pattern emerged from the $0.4905 support. Resistance levels at $0.5059 and $0.5113 were tested multiple times, but failed to hold. The price may continue to test these levels as pivots in the next 24 hours.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed multiple times, signaling a churning market. The daily 50-period MA crossed above the 100-period and 200-period MAs late in the session, indicating a potential short-term reversal. Price remains below the 200-day MA, suggesting a longer-term bearish bias, but the 50-day line may provide near-term support.

MACD & RSI

The MACD line fluctuated around the signal line, with no clear divergence, suggesting ongoing indecision. RSI peaked at 68 and fell to 33 over the 24-hour period, moving into overbought and oversold territory at different times. This could imply that the market is range-bound with no clear trend, and momentum could reverse at any key level.

Bollinger Bands

Bollinger Bands expanded significantly during the session, with the 20-period band width hitting over 5%. Price spent much of the time trading near the upper and lower bands, suggesting heightened volatility. A contraction may follow if price consolidates, which could indicate a potential breakout or breakdown scenario ahead.

Volume & Turnover

Volume spiked during key price swings, especially during the $0.5113–$0.5051 pullback and the final $0.4850–$0.4962 rally. Turnover showed mixed confirmation during these moves, with price rising on higher turnover during the final leg but retreating with declining volume during bearish phases. The divergence hints at a potential weakening of the recent bullish momentum.

Fibonacci Retracements

Applying Fibonacci retracements to the major 24-hour swing from $0.4796 to $0.5154, the 38.2% level at $0.5001 and the 61.8% level at $0.4959 appear to be critical near-term levels. The 50% retracement at $0.4975 is also a key pivot. The price may test these levels for continuation or reversal signals in the coming 24 hours.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions on breakouts above the 61.8% Fibonacci level ($0.4959) with a stop-loss just below the 38.2% level ($0.5001). Given the mixed RSI readings and the volume patterns, this strategy would benefit from incorporating a volatility filter—such as Bollinger Band squeeze—to reduce false signals. MACD confirmation on the 15-minute chart could enhance the robustness of entry and exit rules.