Sushiswap (SUSHIUSD) Market Overview

• Sushiswap (SUSHIUSD) closed lower amid a sharp intraday breakdown.
• Volatility spiked with a 15-minute drop of ~5.4% from 0.761 to 0.72.
• Price remained flat for most of the session, with minimal volume activity.
• Key support at 0.72 held, and a minor bullish reversal signaled at 14:00 ET.
• RSI bottomed in oversold territory, suggesting potential for a near-term rebound.

Sushiswap (SUSHIUSD) opened at 0.761 on 2025-09-01 at 12:00 ET and hit a 24-hour high of 0.766 before closing at 0.766 on 2025-09-02 at 12:00 ET. The pair recorded a low of 0.72 during the breakdown on 2025-09-01 at 20:45 ET. Total volume for the 24-hour period was 2121.8, with a turnover of ~1556.6 USD.

Structure & Formations

The SUSHIUSD chart displayed a consolidation pattern before a sudden breakdown on 2025-09-01 at 20:45 ET, where the price fell from 0.761 to 0.72 within 15 minutes on a relatively low volume. This breakdown appears to have triggered stop-loss placements. A key support level at 0.72 held, preventing further downward momentum. On 2025-09-02 at 14:00 ET, a bullish reversal occurred as the price rose from 0.72 to 0.766. This candle may qualify as a bullish engulfing pattern, suggesting short-term bearish exhaustion.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages remained in a tight range between 0.72 and 0.761 until the breakdown. Price action fell below both, but closed above them after the 14:00 ET candle. This could signal a temporary bearish correction with a potential retest of the 20-period line for confirmation of a reversal.

MACD & RSI

The RSI bottomed near 29 during the intraday breakdown, entering oversold territory, and closed at ~34, suggesting a potential for a short-term rebound. The MACD remained negative but showed a slight upward tick during the 14:00 ET candle, indicating weakening bearish momentum.

Bollinger Bands

Volatility remained low for most of the 24-hour period, with price tightly contained within the Bollinger Bands. However, the breakdown at 20:45 ET caused a sharp contraction, followed by a minor expansion. Price remained near the lower band until the 14:00 ET candle, after which it moved closer to the middle band, suggesting moderate volatility ahead.

Volume & Turnover

Volume remained nearly flat until the breakdown, where a single candle with 2107.7 volume triggered the sharp drop from 0.761 to 0.72. This volume spike confirmed the breakdown. Post 14:00 ET, volume increased slightly to 13.1, with price closing at 0.766, confirming the bullish reversal. Turnover aligned with volume patterns, with no divergences observed between price and turnover.

Fibonacci Retracements

Applying Fibonacci retracements to the recent swing from 0.761 to 0.72, the 38.2% level is at ~0.741 and the 61.8% level at ~0.734. Price closed at 0.766 on 2025-09-02 at 16:00 ET, indicating a possible retest of the 0.741 level for confirmation of a bullish continuation. Traders may watch the 0.761–0.766 range for further confirmation of a reversal.

Backtest Hypothesis

The backtest strategy suggests a mean-reversion approach triggered by a 20-period moving average cross below the 50-period line, confirmed by volume spikes and RSI entering oversold territory. A long position is entered when the 20-period MA crosses above the 50-period line on the 15-minute chart, and a stop-loss is placed at the recent swing low (0.72). The take-profit target aligns with the 38.2% Fibonacci retracement at 0.741. Given the current setup, this strategy could be applied to capitalize on the recent bullish reversal, with a risk of a false breakout if price retests the 0.72 level.