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Sushi

Sushi Prints Massive Descending Triangle Pattern-SUSHI dropped nearly -25% the last week -Price is hanging on to major support zone -250MA has held price down for 2 months Sushi-swap was full of hype a few months ago as the interest in using a decentralized swap skyrocketed. Price also followed as it rose nearly 5000% in a short 5 month period. Price started to turn around as BTC was flattening out around $60,000. Ever since then, SUSHI along with the majority of the cryptocurrency market has been in a strong downtrend. A newly formed price pattern may give a hint of when the next trend may begin. Sushi has formed a near 2 month long descending triangle which is shown in light green. This pattern is generally a bearish one but does sometimes break to the upside. At the time of writing, Sushi is hanging on to its last major support zone at $6.00-$6.55. If bulls fail to hold this mark, sushi will fall hard. At that point, price would have broken to the downside of its descending triangle and would likely visit levels of $5.57 & $4.88. Sushi-swap has nearly 9 days until the very end of its descending triangle formation. For a bullish breakout to occur, Sushi must first break & hold the major resistance found at $7.11. If this is deemed successful, price will then retreat to next major resistance at $7.76. This is where bulls must battle hard as the 250 MA also lies right near this resistance. As this MA has held price down for 2 months, breaking & holding above this mark will likely send Sushi to its major resistance zone near $10.00. While looking at the Relative Strength Index, we can conclude the RSI is having a hard time at staying above the 50 value. Anything above this value is considered bullish and it must hold above this to see a strong revival. The Stochastic RSI is hanging out in oversold levels. This is the area where the largest price drops occur so strength must bounce above 20 very soon or Sushi is in for another tumble. Sushi intraday levels Spot rate: $6.67 Trend: Bearish Volatility: High
 Support: $6.57 Resistance: $7.10
by CoinGape
1
🆓SushiSwap (SUSHI) July-16 #SUSHI $SUSHIThe selling force at the $7 zone is quite strong so SUSHI is currently falling to the $6 zone, if buying here appears and helps SUSHI increase, it will head towards the $9 and $12 zone. But if it loses the $6 zone, it will continue to fall until the end of July to the $3 zone and we can expect a rally to the $6 zone. 📈BUY 🔴Buy : 5.85-6.15$ if A. SL if B 🔴Buy : 6.85-7.15$ if A. SL if B 📉SELL 🔴Sell : 6.85-7.15$. SL if A 🔴Sell : 8.8-9.2$. SL if A 🔴Sell : 11.7-12.3$. SL if A ♻️BACK-UP 🔵Sell : 5.85-6.15$ if B. SL If A 🔵Buy : 2.9-3.1$ if A. SL if B 🔵Sell : 5.85-6.15$. SL if A ❓Details 🕯Timeframe : 1 Day 📈Red Arrow : Main Direction as BUY and SELL section 📉Blue Arrow : Back-Up Direction as BACK-UP section 🟩Green zone : Support zone as BUY section 🟥Red zone : Resistance zone as SELL section 🅰️A : The Close price of candlestick is Above the zone 🅱️B : The Close price of candlestick is Below the zone
by CryptoStation
1
SushiSwap | A Little More Drop And Then Massive MoveHey friends, hope you are well and welcome to the new update on SushiSwap (SUSHI). Different support and resistance levels: Since November 2020 the price action of Sushi was very strong bullish. Finally, Sushi found the resistance at $22.5 and after being rejected to two times by this resistance level it has been dropped to $6 support level. Currently, the priceline is moving between the $6 support and the $10 resistance. After $10 we have resistance at 13.5 dollar then the final resistance is at 22.5 dollars. The daily SMAs: On the daily time frame chart, after the drop the price action has broken down the simple moving averages with the time period of 50,100 and 200. There is also a death cross formed above the price line that is putting more pressure to the price action. The100 simple moving average is also moving down to form a bear cross with 200 SMA. Therefore, we can expect that the price action of Sushi might break down the $6 support level. Big bullish BAT pattern: on the weekly time frame chart, the price action is very close to entering in the buying zone of a big bullish BAT pattern. The buying and sell targets as per the Fibonacci sequence of this pattern are: Buy between: $5.38 to $3.08 Sell between: $10.85 to $19.07 The maximum extent of the potential reversal zone $3.08 can be used as stop loss. As per the above targets, this trade has a huge profit possibility of 500%, and the a high loss possibility is 42%. Therefore try to buy it within the potential reversal zone as low as possible. Conclusion: There is a little more drop expected as the price action is completing the final leg of the bullish BAT pattern. The daily simple moving averages are also signaling to a bit more drop. However, once the bullish harmonic pattern will be completed the price action can turn very strong bullish and can make another attempt to break out that $22.5 and resistance level.
Long
by moon333
(Update) SUSHI is still in a falling wedgeHi every one SUSHI/USDT SUSHI/USDT is still in a falling wedge.but there is a regular bullish divergence on MACD (+RD) which means a huge pump can happen to this currency. We just have to wait for confirmation (upward breakout). Previous Analysis Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!! Thank you for seeing idea . Have a nice day and Good luck
Long
by CobraVanguard
22