SUSHI/USDT Local operation 11 06 2024

Updated

Logarithm. Time frame 3 days. The price is in the support zone of the mirror level, in the so-called “neck” zone of the head and shoulders. The reversal zones, as well as % to key support/resistance levels for orientation, showed on the chart. Since the last update (half a year ago) this coin has shown maximum values of +250%, exactly to the specified maximum zone of the local trend (alt. season), from it and reversal.

Long-term, of course, long.
Medium-term is questionable, depending on the outcome in this local zone.

Look at the main trend (this is a part of the chart). It is worth noting that this is a very “promising” crypto wrapper (pumped up more than +4700%) in the last cycle according to most analysts and hamsters. What happened after a while — the chart is a witness to that (business as usual). Declines of -97% and sideways. Everything that hamsters and their handlers shout now: “promising and revolutionary” will similarly depreciate (after pumping) after a while, after giving “gifts” to hamsters on XXX. Don't forget to sell your “promising” crypto garbage.

Note

Scary?) If so, it's worth considering.

Trade closed: target reached

The target of the head and shoulders from the breakout of the -31% neck zone is taken to the level of 0.628 (slippage to 0.556), from which a local reversal occurs. Thus, with this decline, a full-fledged descending wedge began to form (on most alts, this one is an example).

Trade active

Now we are at the beginning of the formation of its third wave of decline. The price is inside his canvas. Consolidation within the formation, perhaps with a slight decrease, or perhaps even a large one, but due to the domino effect of price slippage at the moment, that is, in simple terms, the exchanges liquidate their clients’ longs and collect stop losses. Then another consolidation, exit and pumping. A breakthrough of the wedge resistance, that is, a local downward trend, is a reversal of the alt.

At the moment, prices are in the main trend in the zone of long-term accumulation. The price range now or minus/plus 20-30% is acceptable both for the medium term and for the long term.

Shown conditional percentages for clarity from this zone to key support/resistance levels.

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