SushiSwap Price Prediction: Should You Invest in SUSHI?

• 1 The existent marketplace inclination of nan SUSHI is bearish.
• 2 The existent value of SUSHI is $1.34 and has mislaid 7.54% during nan past intraday trading session.
• 3 The brace of SUSHI/BTC is  0.00005821 BTC pinch a driblet of astir 4.94% successful nan past 24 Hours.

The cryptocurrency marketplace is highly volatile, SUSHI IS experiencing important value movements successful either direction. SUSHI appears to beryllium successful a bullish shape but nan bears are trying to participate nan waste and acquisition and manipulate nan marketplace of SUSHI. The coin is pursuing a downward trend. The decreasing value complete nan regular value floor plan indicates that nan sellers are gaining a grip connected nan SUSHI.

At present, SushiSwap is being traded astatine $1.34, which reflects a diminution of astir 7.47% during nan intraday trading session. The SUSHI/BTC brace is being traded astatine 0.00005821 BTC pinch a driblet of astir 4.94% successful nan past 24 hours. The value of SUSHI has approached its guidance level and past retreated, indicating weakening buying strength. The superior guidance level is astir $1.4795, and if nan bullish inclination persists, nan value whitethorn touch nan secondary guidance level of astir $1.5557. On nan different hand, if nan bears return over, nan value whitethorn autumn to nan superior support level of astir $1.2475. If nan downward inclination continues, it whitethorn lead to a value reversal, causing nan value to scope nan secondary support level of astir $1.1575.

Source: SUSHI/USD by TradingView

The measurement of nan coin decreased by approx 30.74% successful nan past 24 hours. The alteration successful measurement intelligibly shows that nan trading unit has increased. The regular moving mean of 50 and 100 days person collapsed giving nan antagonistic cross. SUSHI is down by nan regular moving mean of 20 and 200 days

Factors Driving nan Price of SUSHI

Source: SUSHI/USD by TradingView

The method parameter shows nan following: The MACD and MACD awesome person intersected indicating nan antagonistic cross. The Relative Strength Index is returning from nan overbought territory, approaching nan oversold Zone.  The RSI of nan coin is moving person to nan oversold zone, nan trading is getting stronger and nan buyers are sitting still. The existent worth of RSI is 47.66 which is beneath nan mean RSI which is 52.87. This indicates that nan sellers person taken complete nan waste and acquisition of SUSHI

Conclusion

The existent marketplace of SUSHI is bearish. The bears are trying to participate nan waste and acquisition and they reversed nan erstwhile upward trend. SUSHI was nether bullish power from nan commencement of 2023. The existent value of SUSHI is $1.34 and has mislaid 7.54% during nan past intraday trading session. 

Technical Levels

Support Levels: $1.2475 and $1.1575

Resistance Levels: $1.4795 and $1.5557

Disclaimer

The views and opinions stated by nan author, aliases immoderate group named successful this article, are for informational ideas only. They do not found financial, investment, aliases different advice. Investing successful aliases trading crypto assets comes pinch a consequence of financial loss.