Sonic/Tether Market Overview

Summary
• Price tested key levels with bearish consolidation toward the 24-hour close.
• RSI and volume indicate short-term bearish momentum amid low volatility.
• A potential reversal setup emerges near 0.1245, with divergences suggesting caution.

Sonic/Tether (SUSDT) opened at $0.1249 on 2025-11-05 at 12:00 ET, peaked at $0.1285, and closed at $0.1233 by 12:00 ET on 2025-11-06. Total volume for the 24-hour period was 103,489,805.2 and notional turnover amounted to $12,893,372.96. The pair shows moderate bearish momentum amid tightening Bollinger Bands and RSI signaling oversold conditions at close.

Structure & Formations

Price action formed a bearish consolidation pattern after a short-lived bullish breakout above 0.1275. A key resistance level is at 0.1285, with support forming at 0.1245–0.1243. A doji appeared at 03:45 ET, signaling indecision. A bearish engulfing pattern is visible around 19:15–19:30 ET.

Moving Averages

On the 15-minute chart, price hovered near the 20-period MA and below the 50-period MA, indicating bearish bias. Daily 50/100/200 EMAs suggest price is consolidating below the 200 SMA, pointing to continued short-term bearishness.

MACD & RSI

MACD crossed below zero with bearish momentum but has started to stabilize. RSI is near oversold territory (32), hinting at a potential bounce. Divergence between price and RSI suggests a reversal could be in the offing.

Bollinger Bands

Price is currently near the lower band of the Bollinger Bands, suggesting a period of low volatility. A retest of the upper band at 0.1285 could trigger a breakout if volume supports the move.

Volume & Turnover

Volume spiked above average at 03:30 ET and 06:00–07:00 ET but faded toward the close. Turnover spiked alongside the price rally toward 0.1285. A divergence between price and volume in the last 24 hours signals caution.

Fibonacci Retracements

Recent 15-minute swings show price has retested the 61.8% Fib level at 0.1254 after an initial rally. On the daily chart, the 38.2% retrace level is at 0.1268, acting as a potential short-term resistance.

Backtest Hypothesis

To validate the bearish signal seen in the candlestick patterns (e.g., bearish engulfing at 19:15–19:30 ET), a backtest using the correct trading pair and entry/exit rules is essential. A typical approach would involve entering at the next period’s open following the signal and exiting at the close, but adjustments can be made based on the pair's liquidity and market rules. Once the correct symbol is confirmed—such as “SUSHIUSDT” or another exchange-specific ticker—the strategy can be tested from 2022–01–01 to 2025–11–06 to determine profitability and robustness.