Market Overview for SushiSwap/Tether (SUSHIUSDT)

Summary
• SUSHIUSDT surged above 0.3100, breaking key resistance with bullish momentum.
• Volume spiked sharply during the late ET session, confirming the breakout.
• RSI moved into overbought territory, suggesting possible near-term profit-taking.
• Price consolidated near the 0.3127–0.3155 range, signaling potential for further upside.
• Bollinger Bands show a modest expansion, indicating rising volatility and momentum.

Market Overview

SushiSwap/Tether (SUSHIUSDT) opened at 0.2873 on 2026-01-01 12:00 ET, surged to a high of 0.3148, and closed at 0.3167 by 2026-01-02 12:00 ET. The price action reflects a strong rally, supported by a total volume of 1,332,725.9 and notional turnover of $405,455.34 over 24 hours.

Structure & Formations

Price broke above the 0.3100 psychological level, forming a strong bullish continuation pattern. A key support level appears to be forming around 0.3055–0.3063, with 0.3127–0.3155 emerging as a new consolidation range. A large bullish engulfing pattern was visible between 2026-01-02 09:45 ET and 10:00 ET, signaling strong buying pressure.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages both crossed to the bullish side, confirming the upward momentum.

On the daily chart, price is comfortably above the 50, 100, and 200-day moving averages, reinforcing a longer-term bullish trend.

MACD & RSI

The MACD crossed into positive territory with a strong signal line, supporting a potential for further gains. The RSI climbed to overbought levels (~75), suggesting a possible pause for profit-taking or consolidation in the short term.

Bollinger Bands

Price has expanded above the upper Bollinger Band on multiple occasions, indicating a phase of increased volatility. The bands themselves are widening, which is consistent with a breakout in progress.

Volume & Turnover

Volume surged significantly in the late ET session, peaking around 2026-01-02 12:45 ET with a candle showing 238,210.9 in volume. This aligns with the price breaking out of the 0.3100–0.3127 range and confirms strong institutional or retail participation.

Fibonacci Retracements

On the most recent 5-minute swing (0.3063–0.3148), price found support at the 61.8% Fibonacci level around 0.3115 before continuing upward. On a daily scale, if the trend continues, key Fibonacci levels to watch include 0.3186 (61.8%) and 0.3222 (78.6%).

Market activity suggests that SUSHIUSDT may continue its upward trajectory in the coming 24 hours, but the overbought RSI and increased volume may signal a short-term pullback or consolidation. Investors should monitor 0.3127 as a key support and 0.3170 as the next resistance level. As always, traders should be mindful of increased volatility and manage position risk accordingly.