Market Overview for SushiSwap/Tether USDt (SUSHIUSDT) – 2025-09-06

• SUSHIUSDT opened at $0.7592 and closed at $0.7415, down 2.45% amid bearish momentum.
• Price tested key support levels multiple times, with notable rejection at $0.7450–$0.7475.
• Volatility spiked mid-day after a large dip below $0.7450, signaling potential continuation or exhaustion.
• MACD and RSI suggest oversold conditions near $0.7415, hinting at short-term bounce potential.
• Notional turnover increased significantly during the decline, indicating accumulation at lower levels.

SushiSwap/Tether USDt (SUSHIUSDT) opened at $0.7592 on 2025-09-05 12:00 ET and closed at $0.7415 by 12:00 ET on 2025-09-06. The 24-hour candle shows a low of $0.7410 and a high of $0.7652. Total volume was 1,136,779.9, with notional turnover (volume × price) at approximately $854,614. The pair has shown a bearish bias, with significant downward momentum developing after mid-day.

Structure & Formations

The 15-minute chart reveals a strong bearish structure, with the price forming a descending triangle pattern from $0.7600 down to $0.7450. A key support level appears at $0.7450–$0.7475, where multiple candles showed rejection in the form of long wicks and doji patterns. A deep bearish engulfing pattern was seen at $0.7480–$0.7450, confirming a short-term breakdown. Key resistance remains around $0.7560–$0.7580, which the price failed to re-test after the breakdown.

Moving Averages

On the 15-minute chart, the 20 and 50-period SMAs have both sloped downward sharply, confirming the bearish bias. The price closed below both, suggesting continued bearish pressure. On the daily chart, the 50 and 100-period SMAs have converged slightly, while the 200-period SMA remains a key long-term support at approximately $0.7400. This suggests that while the short-term trend is bearish, a bounce toward $0.7450–$0.7475 could test the 50-day line and potentially trigger a counter-trend move.

MACD & RSI

The MACD line has crossed below the signal line and remains in negative territory, reinforcing the bearish momentum. The histogram has been expanding on the downside, indicating increasing short-term bearish energy. The RSI has dropped into the oversold territory around 30–35 for much of the last 6 hours, suggesting potential for a bounce, though it remains to be seen if this is a short-term retracement or the beginning of a larger reversal.

Bollinger Bands

Volatility has expanded significantly as the price dropped below the lower Bollinger Band around $0.7450–$0.7475. The bands are now relatively wide, reflecting increased uncertainty and potential for either a continuation or a rebound. The price has been hovering near the lower band for several hours, suggesting a high probability of a short-term bounce or a test of the 200-day SMA at $0.7400.

Volume & Turnover

Volume surged during the decline below $0.7450, particularly in the 21:30–04:30 ET timeframe, indicating accumulation at lower levels. Notional turnover spiked during the same period, with several large-volume candles forming at key support levels. While the price action and volume are aligned in the bearish direction, the sharp increase in turnover at lower levels suggests potential for a near-term rebound or consolidation.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from $0.7410 to $0.7652, the 38.2% level is at $0.7530 and the 61.8% level is at $0.7485. The price has bounced slightly off the 61.8% level multiple times, suggesting it could serve as a near-term support or a re-entry point for longs. If the price breaks below $0.7410, the next Fibonacci level to watch would be the 78.6% retracement at $0.7440–$0.7450.

Backtest Hypothesis

A backtesting strategy could be constructed using a combination of RSI oversold conditions and Fibonacci retracements. For example, a long entry could be triggered when the RSI dips below 30 and the price tests the 61.8% Fibonacci level. A stop-loss could be placed just below the recent swing low, and a take-profit could target the 38.2% or 50% level. This approach may capture short-term bounces in a volatile, range-bound environment, but requires careful risk management and validation over a larger historical dataset.