Market Overview: SushiSwap/Tether (SUSHIUSDT) on October 1, 2025

• SushiSwap/Tether (SUSHIUSDT) experienced a bullish breakout above 0.6890, supported by a sharp volume increase in early ET.
• The 15-minute RSI surged to overbought territory near 70, indicating potential near-term profit-taking.
• Volatility expanded as Bollinger Bands widened, reflecting aggressive price swings in late ET hours.
• A bullish engulfing pattern emerged at 0.6780, reinforcing a short-term bullish bias.
• Notional turnover hit $237,162.50, with volume spiking at 0.6944 as price surged past recent highs.

SushiSwap/Tether (SUSHIUSDT) opened at 0.6467 (12:00 ET – 1) and closed at 0.6903 (12:00 ET) after reaching a high of 0.6981 and a low of 0.6443. Total volume for the 24-hour period was 8,465,430.9 units, with a notional turnover of $237,162.50.

The 15-minute OHLCV data shows a strong bullish trend, particularly in the 8:45–9:00 AM ET period, when price surged from 0.6783 to 0.6943 in a single bar. This movement is supported by a large volume spike of 300,512.8 units, indicating strong institutional or whale activity. Key support levels formed at 0.6780 and 0.6695, with resistance levels at 0.6890 and 0.6944. A bullish engulfing pattern formed at 0.6780, reinforcing the likelihood of a continuation of the upward trend.

The 20-period and 50-period moving averages on the 15-minute chart have both crossed above the price, supporting the bullish momentum. A 50-period moving average at 0.6840 and a 200-period daily MA at 0.6750 suggest that the pair is in a short-term upswing within a broader bullish context.

The 15-minute MACD histogram turned positive during the 8:00–9:00 AM ET window, reflecting a surge in bullish momentum. RSI hit overbought levels in the 8:45–9:00 AM ET period, reaching 73, suggesting the potential for a consolidation phase. Bollinger Bands expanded significantly during the breakout, with price reaching near the upper band at 0.6944 before retracing slightly, indicating heightened volatility and investor attention.

Fibonacci retracement levels drawn from the swing low at 0.6443 to the swing high at 0.6944 show key levels at 0.6721 (38.2%), 0.6695 (50%), and 0.6606 (61.8%). Price tested and rebounded off the 50% level, suggesting strong intermediate-term support.

The backtest hypothesis leverages the confluence of the bullish engulfing pattern at 0.6780 and the 50-period moving average as entry points, with a stop-loss placed below 0.6750 and a target of 0.6890–0.6930. The strategy would also utilize RSI overbought levels to identify potential exits during consolidation. A key condition is that volume must confirm the breakout, which was clearly met in the 8:45–9:00 AM ET bar.