Market Overview for SushiSwap/Tether (SUSHIUSDT) – October 6, 2025

• SushiSwap/Tether (SUSHIUSDT) declined from 0.7114 to 0.6920 over 24 hours, showing bearish momentum.
• A key support level formed near 0.6900–0.6920 with increased volume, suggesting potential consolidation.
• Volatility spiked during the early hours of 10/06, with a large bullish candle forming after hitting a 24-hour low.
• RSI moved into oversold territory briefly, while MACD showed bearish divergence near the close.
• Notional turnover increased sharply during the bounce, signaling short-term interest.

SushiSwap/Tether (SUSHIUSDT) opened at 0.7114 (12:00 ET − 1) and traded as high as 0.7312 before falling to a low of 0.6860, closing at 0.7032 (12:00 ET). Total volume over the 24-hour period was 3,628,554.2, while notional turnover stood at approximately $2,568,807. The pair has shown a volatile bearish bias, but signs of short-term support and volume-driven bounces hint at possible near-term stability.

Structure & Formations

The 15-minute chart revealed a key support cluster forming near 0.6900–0.6920, confirmed by a large bullish reversal candle at the close of the 00:00–00:15 ET session after hitting a 24-hour low. A doji candle appeared at 0.6915 (04:15 ET), signaling indecision. A large bearish engulfing pattern was visible between 08:30 and 09:45 ET, confirming a temporary shift in bearish momentum. Resistance levels at 0.7000–0.7030 have held multiple times, indicating psychological pressure.

Moving Averages

On the 15-minute chart, the 20-period MA (0.7027) crossed below the 50-period MA (0.7019), forming a death cross that supports bearish continuation. On the daily chart, the 50-period MA sits at 0.7034, just above the 200-period MA of 0.7017, suggesting a near-equilibrium in medium-term trend dynamics. The 100-period MA at 0.7023 is also in close proximity, indicating consolidation may continue unless a clear breakout occurs.

MACD & RSI

The MACD line turned negative around 00:00 ET, confirming bearish momentum. A bearish divergence emerged as prices rose to 0.7066 while the MACD line declined, hinting at weakening bullish conviction. RSI reached oversold levels (~30) at 00:30 ET, but failed to produce a strong rebound, suggesting weak buying pressure. RSI has since stabilized around 45–50, indicating a return to neutral momentum and possible consolidation.

Bollinger Bands

Volatility increased sharply during the early morning hours of 10/06, expanding the Bollinger Bands to a width of ~0.0060. Prices touched the lower band at 0.6860 and bounced off with a high volume candle, suggesting a possible floor. The price has since traded within the bands, but with a slight bias toward the lower half. A contraction in volatility may precede a breakout if support at 0.6900–0.6920 holds.

Volume & Turnover

Volume spiked at 00:15 ET with a massive 81903.2 units traded during a price rebound from 0.6860 to 0.6899, validating the bounce. However, subsequent volume has remained moderate, and turnover has not surged, signaling a potential lack of conviction in the rebound. A divergence appears when comparing the bullish price action at the close to a relatively flat volume profile, suggesting the move might be short-lived unless buying interest increases.

Fibonacci Retracements

Fibonacci levels applied to the recent swing from 0.7312 to 0.6860 showed a key 61.8% retracement at 0.7025, where prices have hovered in the past 24 hours. This level appears to be a confluence of support and the 20-period MA, making it a critical zone for near-term direction. A break below 0.6900 (38.2% retracement) would likely target the 0.6860 low again, while a close above 0.7032 may test 0.7066 (78.6% retracement).

Backtest Hypothesis

Given the recent confluence of support at 0.7000–0.7025 and the stabilizing RSI and MACD indicators, a backtesting hypothesis could be built around a long bias when price retests and holds above this zone. A potential strategy might involve entering on a close above 0.7025 with a stop-loss just below 0.6990, targeting 0.7060–0.7080. This setup is supported by the Fibonacci 61.8% retracement level and the 20-period MA. A confirmation candle with increasing volume would strengthen the validity of the setup. This approach would align with the observed buying interest at 0.6900–0.6920 and the recent volatility contraction, suggesting a possible short-term equilibrium before a breakout.