SUSHI Technical Analysis: The Growth Is Possible from $8
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At the moment, there is a clear downward trend in trading volumes since May 2021. This trend confirms the price movement in the global consolidation triangle. Usually, after such a maximum narrowing of the trading range and a decrease in trading volumes, there is a strong price shot. And given the fact that the SUSHI fall wave from May 2021 began after a strong growth impulse, the probability of a price shot up is higher. The main global target of buyers after breaking the upper trend line of the triangle up is the mark of $28. The main problem of buyers on the way to this target is in the $14 mark. Buyers cannot take control of this mark from August 2021. After breaking the SUSHI price above this mark, there will be another opportunity for investors to buy this cryptocurrency with low risks.
Technical Analysis of SUSHI in the Daily Timeframe
However, analyzing the SUSHI price movement on the daily timeframe, the situation for buyers wants to be better. The chart shows the range of $9-$9.4, which sellers took control of on 18 November. This range is interesting because it did not allow the price in June-July to continue to grow. Subsequently, this range kept the price well starting from September 2021. The attempt of buyers during the previous two days to regain control over the range ended as unsuccessfully as possible. The price just touched the $9-$9.4 range, it all happened at low volumes. This fact indicates a low interest of buyers in this price range. Therefore, the probability of a continued price fall to $8 is quite likely.
The SUSHIBTC Price Is Approaching the Liquidity Zone
If you look closely at the weekly timeframe of SUSHIBTC price, you can see that sellers have not yet completed the fall wave. This is evidenced by both low trading volumes, by which sellers easily push the price down, and the liquidity level of 0.00012. How easily buyers in January 2021 raised the SUSHIBTC price from this level up, with the same ease now sellers return the price back. This assumption increases the probability of the SUSHIUSDT price falling to $8, which will be a good chance for investors to buy low-risk cryptocurrency.