Sushiswap (SUSHI) Has Grown by 100% in 5 Days

In the previous article, we expressed concern about the sluggish local highs update in the SUSHI market. On 25 January, buyers were unable to break and fix above the red trend line and let go of the price, passing the initiative to sellers.

Fixing the Sushi price above $12.5 will open the way for buyers to $19

As you can see in the chart, sellers could not implement their initiative and even did not try to break the trend line of the growth channel. The mark of $7.4 survived and a new wave of growth began. In just 5 days, buyers were able to raise the SUSHI price by 100%, breaking the red trend line, which slowed the trend from December 2020.

Though, trading volumes in the SUSHI market have remained stable since December 2020. Taking a place in the top 20 of all crypto projects on the daily trading volumes, the SUSHI market feels quite confident and does not suffer from insufficient liquidity.

Considering the situation more locally in the SUSHI market, we see that buyers managed to fix above the mark of $12.5.

Given the weakness of sellers at local highs during the correction of the growth wave, it can be assumed that the prospect of the SUSHI price growth is still there. The main target is near the mark of $19. Whether there will be the prospect of continued growth above $19, we will find out after studying the nature of SUSHI price growth to the critical range.

However, given the BTC price could not fix above the range of $35,000-$35,700, an alternative scenario should be considered.

So, reducing the SUSHI price below $12.5 will open the way for sellers to the range of $9.8-$10.2. This is the first liquidity price zone in which the price can stop.