Summary
• Price formed a bearish engulfing pattern near 0.314 after a sharp early drop.
• Volatility expanded dramatically in the last 6 hours, pushing price 4.3% lower.
• RSI entered oversold territory near 28, suggesting potential near-term support.
• Volume surged in the 15:00–18:00 ET range, coinciding with a steep decline.
• Price found support at 0.3073–0.3080 but failed to close above that level.
SushiSwap/Tether (SUSHIUSDT) opened at 0.3135 on 2025-12-14 at 12:00 ET, reached a high of 0.3189, and a low of 0.2969, closing at 0.2946 as of 2025-12-15 12:00 ET. Total volume over 24 hours was 2,524,947.6 with a notional turnover of $777,146.
Structure & Formations
The price action formed a bearish engulfing pattern at 0.314, followed by a breakdown below key support at 0.3085. A long bearish candle at 0.2981–0.2969 suggested exhaustion near 0.2970, with 0.3060–0.3073 acting as a strong support zone. A potential bullish reversal could emerge if price closes above 0.3105.
Moving Averages
On the 5-minute chart, price dropped below both 20 and 50-period EMAs, reinforcing bearish bias. On the daily chart, the 50-period EMA at ~0.3155 was broken to the downside, with 200-period at ~0.3200 offering resistance for any near-term rally.
MACD & RSI
MACD turned negative, with bearish divergence forming on the histogram.
RSI fell to 27–28, indicating oversold conditions, but without a strong rebound above 32, bearish momentum could persist.
Bollinger Bands
Volatility expanded significantly after 15:00 ET, with price hitting the lower Bollinger band at ~0.2970. The 20-period band width widened from ~0.0010 to ~0.0025, signaling increased trading pressure in the bearish direction.
Volume & Turnover
Volume spiked to over 390k at 15:30 ET, matching a sharp drop in price. Turnover diverged slightly from price in the last 3 hours, with volume declining despite continued bearish movement, hinting at possible short-term exhaustion.
Fibonacci Retracements
The key 5-minute swing from 0.3189 to 0.2969 placed 0.3095 at 38.2% and 0.3048 at 61.8%—both of which acted as temporary support zones. The 61.8% level could now be critical if buyers show renewed interest.
Over the next 24 hours, a break below 0.2946 could test the 0.2900–0.2920 zone, while a sustained move above 0.3105 may indicate a short-term reversal. Traders should remain cautious of a continuation of the downward trend, especially if volume remains high and momentum indicators remain bearish.
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