SUSHI Technical Analysis: So Far Hopes Are In Vain
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Therefore, at the moment, market participants are playing the game "whoever hits weaker will win." Usually the result of such a game gradually turns into a consolidation with a bright price shot. The decrease in SUSHI price volatility from the end of November 2021 and the transition of its trading to the wedge confirms this scenario. However, it is difficult to say for sure that the new impulse will be in the direction of growth. The fact is that the downward trend curve clearly shows the acceleration and inability of buyers to organize deep upward corrections since March 2021.
Usually, such trading situations end with the final impulse of the fall on high volumes. This impulse will signal the reversal of the SUSHI market and the preparation for a new global growth trend. At the time of writing, the critical point for buyers is at $2.3. After breaking this mark, sellers will secure their way to the next global goal of $1.4.
Technical Analysis Of SUSHI On The Daily Timeframe
However, we can confidently start talking about such a global scenario after buyers lose control over the $3.15 mark. At the moment, starting from 14 March, buyers are forming a local growth wave. Within 10 days, sellers could not stop this growth and let buyers into the global trend curve. In the coming days, it will become clear whether buyers have enough strength to break this curve and put an end to the global downward trend.
However, given the trading volumes and the volatility of daily candles, such a scenario is unlikely. You can confidently buy SUSHI cryptocurrency after breaking and fixing the price above the $4.2 mark. In this case, the first target to record profits is at $7.6. Another opportunity to buy SUSHI with relatively low risks may arise if buyers do not allow the price to fall below $2.8. However, even in this case, be prepared to buy SUSHI in the range of $2.2 to get a good average price.
The SUSHIBTC Price Approached The Lower Trend Line Of The Fall Channel
Analyzing the SUSHIBTC price movement on the weekly timeframe, we can assume that the local fall wave from January 2022 ends. The SUSHIBTC price approached the bottom global trend line of the fall channel and a counterattack of buyers began. But, it is unclear how effective this counterattack will be. The fact is that trading volumes in recent weeks are the lowest in the history of SUSHIBTC trading. Therefore, at the moment we assume a small growth wave with the first target 0.000010. In this mark there is a serious point of resistance of sellers. While buyers have not taken control of it - to predict the next growth targets does not make sense.