SushiSwap (SUSHI) entered the crypto space to be one of the toughest competitors for Uniswap. And it did perform during its inception as the SUSHI price spiked high to hit $46.9, but the glory faded the very next moment when it fell into a deep well to hit $5.8. Further, more worst days were awaiting as it slipped below $1 too. However, the 2021 bull run turned out to be a blessing in disguise for the asset as it surged high to hit levels around $25 and since then it’s able to maintain above $5 at least.
However, a similar bounce back is expected from the current levels, but whether the flip will uplift the price above $10 today?
Sushiswap (SUSHI)/USDT Technical Analysis at a Glance
SushiSwap fell into the bearish well with the beginning of the current month. Yet it was able to stop huge losses as it consolidated well. Further, the asset flipped and broke through its consolidation to range high. However, after surging above $9, the asset gets rejected three times at $9.6 in the hourly chart and is currently on the verge to test the fourth time.
Will the SUSHI price breach these levels to hit a double-digit figure by EOY? Let’s check it out.
|Short-Term||After rallying for a couple of days, the SUSHI price is relaxing a bit and hence one can expect a short term consolidation|
|Mid-Term||The price was declining but was successful to make a bullish divergence|
|Long-Term||The SUSHI price is currently consolidating for a couple of days but the probability of another uptrend remains high|
Sushiswap Technical Indicators
|Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||46.18 / 65.16||Neutral / Buy|
|StochasticRSI (StochRSI)||44.99 / 92.84||Sell / Overbought|
|MACD||-0.064 / 0.453||Sell / Buy|
|Historical Volatility Percentile(HVP)||23.72 / 119.15||Sell / Buy|
|Moving Average (MA) – 50||$9.14||$7.57|
|Moving Average(MA) – 200||$7.8||$9.57|
|Local / Strong Support||$8.2 / $7.22||$8.89 / $6.21|
|Local / Strong Resistance||$9.6 / $13.3||$9.83 / $11.39|
The technicals for the SUSHI price is currently trying to shift from a ‘sell’ signal to being neutral. And hence this may be a sign of a rebound or the asset could already have begun with the recovery. However, StochRSI is pretty high and points towards the price retest in the next couple of hours. Yet the restest may be quickly flipped and the uptrend may resume without any time.
However, the pivotal points hover around the current levels pointing towards a narrow uptrend without much price variation. The asset tends to move towards the north slowly yet steadily. Yet in the long-term, somewhere in the early Q1 2022, the SUSHI price may hit above $12.
Sushiswap(SUSHI) Technical Analysis for the Week
The asset refused the Christmas rally and maintained a substantial dip through the past weekend. Yet the beginning of the current weekly trade was pretty bullish as the asset spiked more than 25% within a very short time frame. However, since then the price is swinging in between $9.6 and $8.43 for the past couple of days. It tried to breach through the $10 target but failed at the last step.
Source: Tradingview Date: 30-12-2021 Time: 1:40pm
- The SUSHI chart in the weekly time frame is attempting to breach through the symmetrical triangle towards the north
- The asset needs to close the weekly trade above $10 to kick-start the year 2022 trade with huge bullish momentum
- Currently, in the short-term, a tough fight between the buyers and sellers is compelling the asset to showcase a constant trend
- Yet the asset still looks poised to buckle up and surge but the time frame remains pretty misty
Sushiswap(SUSHI) Technical Analysis for Today: 30 December 2021
The SUSHI price from the past couple of days is swinging nearly 10% to 15% towards the north while 10% to 8% to the south. Luckily, the lower support levels at $8.79 were held strong amid the mounting buying pressure and positive market sentiments. Currently, the asset is heading strongly towards its double-digit target and appears to achieve it at the earliest.
The SushiSwap crypto price is around $9.27 with a negligible jump of 0.05% which indicates a trend reversal, a couple of moments ago. The trading volume remains depleted by nearly 30% while with a drop of just 0.07%, the market cap is trying to recover to its initial levels.
Where & How to buy SushiSwap(SUSHI)
SushiSwap is widely available for trade on all major platforms in the world. Yet here in CoinDCX, you get entitled to earn rewards along with a great trading experience. Being India’s most trusted platform, CoinDCX offers a wide variety of assets at a very affordable price. Additionally, the most interesting part is the CoinDCX app which offers hassle-free trade at a very single touch.
As the year 2021 is about to end, we offer you the last chance to win exciting vouchers. CoinDCX is running a program called, ‘New Year Countdown Carnival’. Just fund your wallet with the exact amount of $1221 and place a minimum order of the same. And done, you are eligible to win vouchers!!!
Download the mobile app on your smartphone and enjoy the world of smooth yet secure trade.
Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.