Market Overview for SushiSwap/Tether (SUSHIUSDT)

Summary
• SUSHIUSDT formed a bullish engulfing pattern at 0.2807 as price rebounded from a key support.
• Momentum shifted after 03:45 ET with RSI bottoming at oversold levels near 28.
• Volatility expanded after 14:00 ET with volume surging past 200k and price reaching 0.2956.
• Price closed above the 20-period MA at 0.2902 with Bollinger Band contraction signaling potential breakouts.

Market Overview

SushiSwap/Tether (SUSHIUSDT) opened at 0.2887 on 2025-12-17 12:00 ET, reached a high of 0.2956, touched a low of 0.2802, and closed at 0.2902 by 2025-12-18 12:00 ET. Total volume for the 24-hour period was 2,295,108.3, with a notional turnover of approximately $663,801.

Structure and Candlestick Patterns

A key support level emerged at 0.2807 following a bullish engulfing pattern that formed around 03:30 ET. Price consolidated briefly before rebounding with a strong volume spike at 14:45 ET, reaching a 24-hour high of 0.2956. A doji appeared near the top of the range at 0.2956, signaling a potential near-term pause in the upward momentum.

Trend and Moving Averages

Price closed above the 20-period moving average at 0.2902, indicating short-term bullish bias. The 50-period MA was also crossed above after the 14:00 ET surge. On the daily chart, the 50/100/200 MA structure shows a flattening trend, with price holding above the 200 MA, suggesting limited bearish pressure on a longer time frame.

Momentum and Volatility

The RSI bottomed at 28 near 04:00 ET and closed at 56, showing re-entry into neutral territory. MACD crossed above the signal line post-14:00 ET, confirming the bullish breakout. Bollinger Bands showed contraction during the overnight consolidation phase, followed by an expansion as price broke higher, indicating increased volatility and potential continuation.

Volume and Turnover Dynamics

Volume surged from 14:00 ET onward, with the largest bar at 15:45 ET showing 61,857.7 units traded. Turnover aligned with volume, confirming the strength of the upward move. No clear divergence was observed between price and turnover during the session, reinforcing the validity of the breakout.

Fibonacci Retracements

On the 5-minute chart, the 0.2802–0.2956 swing shows key retracement levels: 0.2894 (38.2%) and 0.2931 (61.8%). Price tested the 61.8% level at 0.2931 and pulled back slightly, but remains above key support levels.

The market may see a test of the 0.2960–0.2970 resistance area in the next 24 hours, but a pullback to the 0.2870–0.2890 range could reestablish consolidation. Investors should remain cautious of volatility, as large volume spikes could trigger sharp corrections if momentum wanes.