Market Overview for SushiSwap/Tether USDt (SUSHIUSDT)

• Price opened at $0.7592 and dropped to a low of $0.7408 before closing near $0.7434 amid rising volume.
• A key bearish breakdown occurred below $0.7550, followed by a consolidation phase within $0.7430–$0.7470.
• RSI hit oversold conditions in the final hours, while volume spiked during the afternoon bearish phase.
• Bollinger Bands showed a moderate expansion, with price testing the lower band multiple times.
• A potential support zone emerged around $0.7410–$0.7430, with a critical resistance at $0.7500.

SushiSwap/Tether USDt (SUSHIUSDT) opened at $0.7592 on 2025-09-05 at 12:00 ET and closed at $0.7434 at 12:00 ET on 2025-09-06, with a high of $0.7652 and a low of $0.7408. Total volume reached 1,096,501.2 units, and notional turnover amounted to approximately $813,972 USD.

Structure & Formations

The pair experienced a significant bearish impulse starting in the late afternoon of 2025-09-05, breaking below key support at $0.7550 and falling to $0.7430. This was marked by several long-bodied bearish candles and a bearish engulfing pattern at $0.7550–$0.7535. A potential support zone formed around $0.7410–$0.7430 as the price consolidated in the early morning of 2025-09-06. A bullish reversal candle formed on the 15-minute chart at $0.7430–$0.7443, suggesting a potential short-term bounce.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended downward, confirming the bearish bias. The 20 MA crossed below the 50 MA in the late afternoon, forming a death cross. On the daily chart, the 50-period MA stands at $0.7635, and the 200-period MA at $0.7580, suggesting a strong bearish bias for the broader timeframe.

MACD & RSI

The MACD line turned negative in the late afternoon, with the histogram expanding to confirm the bearish momentum. The signal line crossed below zero, reinforcing the bearish bias. The RSI dropped below 30 in the early morning of 2025-09-06, signaling oversold conditions, though this may not trigger a strong reversal without a bullish volume confirmation. The RSI remains below 50, indicating continued bearish pressure.

Bollinger Bands

Bollinger Bands showed a moderate expansion from 22:00 to 03:00, with the lower band sitting at $0.7425 and the upper band at $0.7585. Price tested the lower band multiple times, with a final test at $0.7430. The 15-minute chart showed a moderate volatility increase as price approached the lower band, suggesting a possible bounce or continuation of the bearish trend.

Volume & Turnover

Volume surged in the late afternoon and early evening, coinciding with the sharp selloff. The most significant volume spike occurred at $0.7530–$0.7480 with a notional turnover of $618,456, confirming the bearish move. However, volume declined significantly during the consolidation phase, suggesting a lack of aggressive bearish momentum. Price and turnover showed a strong correlation during the sell-off, but diverged during the consolidation, signaling potential indecision.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing (from $0.7652 to $0.7430), price currently sits near the 61.8% retracement level at $0.7500, a key psychological level. On the daily chart, the 38.2% retracement is at $0.7580, while the 61.8% is at $0.7500, suggesting that $0.7500 may act as a pivotal support/resistance level.

Backtest Hypothesis

Given the bearish momentum and confirmed breakdown below $0.7550, a backtesting strategy could involve a short entry on a retest of that level with a stop above the 20-period moving average at $0.7565. A Fibonacci target at $0.7410 and $0.7365 provides potential profit-taking levels. The RSI's oversold reading suggests a potential bounce at $0.7430, but the bearish engulfing pattern and volume confirmation indicate that a retest may not be a reliable long entry.

Looking ahead, the next 24 hours could see price testing the $0.7430 support or attempting a short-term rebound toward $0.7470–$0.7500. Traders should remain cautious, as bearish momentum remains intact unless a strong bullish reversal forms on the 15-minute chart. A break below $0.7410 may signal a deeper decline into $0.7365–$0.7330.