Market Overview for SushiSwap/Tether (SUSHIUSDT)

Summary
• Price formed a bullish engulfing pattern near 0.2907 and tested a key resistance cluster at 0.2934–0.2950.
• Volume surged in the late morning ET as price broke above 0.2933.
• RSI moved into overbought territory (65–70) during the rally, indicating potential near-term exhaustion.
• Bollinger Bands widened, suggesting a period of rising volatility.
• Turnover spiked 3x above the 24-hour average between 00:15 ET and 01:00 ET.

SushiSwap/Tether (SUSHIUSDT) opened at 0.2908 on 2025-12-21 12:00 ET and closed at 0.2994 on 2025-12-22 12:00 ET, reaching a high of 0.3013 and a low of 0.2893. Total volume was 2,258,144.0 and notional turnover stood at 678.58.

Structure & Formations

A bullish engulfing pattern formed at 0.2907 as price reversed from a short-term low, indicating buying pressure. A cluster of resistance levels emerged between 0.2934 and 0.2950, where price stalled twice. A doji at 0.2975–0.2975 suggested indecision during the afternoon ET.

Moving Averages

On the 5-minute chart, the price spent most of the session above the 20-period and 50-period SMAs, indicating a short-term uptrend. On the daily chart, the 50- and 100-period SMAs intersected near 0.2938, forming a potential support level.

Momentum and Volatility

RSI surged into overbought territory (65–70) between 04:45 ET and 06:00 ET, signaling potential near-term consolidation. Bollinger Bands expanded as the price moved, indicating rising volatility. MACD crossed above the signal line around 02:30 ET, reinforcing bullish momentum.

Volume and Turnover

Volume spiked sharply in the early morning ET (00:15–01:00) as the price broke above 0.2933, confirming the breakout. Notional turnover surged 3x during this period. However, a divergence between volume and price was observed during the late afternoon ET pullback.

Key Levels and Fibonacci

The 0.2934–0.2950 range acted as a key resistance cluster. A 5-minute swing from 0.2893 to 0.3013 shows Fibonacci levels at 38.2% (0.2934) and 61.8% (0.2970). Price appears to be consolidating near 0.2970, suggesting potential for a test of the 0.2970–0.2990 range.

Price may attempt a test of the 0.2970–0.2990 range in the next 24 hours, but traders should watch for a rejection at 0.3005. As with all volatile assets, unexpected news or macro moves could disrupt short-term patterns.