Market Overview for SushiSwap/Tether (SUSHIUSDT): Volatility and Oversold Signals Emerge

Summary
• Price declined from $0.3674 to $0.3444 on heavy volume, forming bearish engulfing patterns.
• RSI and MACD indicate oversold conditions, with RSI near 20 and MACD diverging from price.
• Volatility expanded as price moved between Bollinger Bands, with volume surging in early hours.

SushiSwap/Tether (SUSHIUSDT) opened at $0.3597 at 12:00 ET − 1 and traded as high as $0.3674 before hitting a low of $0.3427. At 12:00 ET, it closed at $0.3468. Total 24-hour volume reached 1.83 million, with a notional turnover of $641,810.

Structure & Moving Averages

Price broke below key 5-minute moving averages (20/50), confirming a short-term bearish trend. Daily 50/100/200 SMA levels appear to be under pressure, with $0.3468 now acting as a potential short-term support level after a 61.8% Fibonacci retracement from the day’s high.

Momentum & Oscillators

The RSI has entered oversold territory near 20, while the MACD shows bearish divergence — the indicator line is rising while price continues to fall, hinting at potential near-term exhaustion in the downtrend.

Volatility & Volume

Bollinger Bands expanded in the early hours, reflecting increased volatility. Volume spiked at $0.3674 and again in the downward move to $0.3427, confirming bearish momentum. However, volume has since declined, suggesting a possible near-term pause in the decline.

Fibonacci & Key Levels

Recent swings show a bearish 61.8% retracement at $0.3468, which may act as a near-term floor. Resistance now sits at $0.3538 (38.2% level), where buyers may test for strength.

The market may test $0.3468 as a support level in the next 24 hours, but further downside risks remain. Investors should watch for a break of this level or a rejection above $0.3538 to gauge short-term direction.