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Sushi

$SUSHI Performing Ascending Triangle in 1D TF Also BREAKOUT DONEWhat the Ascending Triangle Shows Us The ascending trend line chart pattern is a bullish formation. It signals that the market is consolidating after an uptrend, with the buyers still in control. The occurrence of the higher lows is pointing toward a likely breakout as the wedge narrows down." **There are three key features of an ascending triangle: Strong trend - In order for the ascending triangle to exist in the first place, the price action must stem from a clear uptrend; Temporary pause - This element refers to the consolidation phase, which will help the buyers consolidate their strength; Breakout - The break of the upper flat line marks the breakout, which activates the pattern. It also helps us determine the entry, take profit, and stop loss at a later stage.
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by UnknownUnicorn26572303
SushiSwap $1 move?👀 SUSHIUSDT Today Analysis 💎 Sushi USDT is primed for an impressive move, currently trading in a demand area and setting the stage for a bullish trend. 💎 It's maintaining strong momentum above the EMA 50, having successfully closed one daily candle above it, which further strengthens the bullish outlook. 💎 Above, there's a supply zone that the price is expected to reach, grab liquidity, and mitigate. 💎In the dynamic world of crypto, staying informed and adaptable is key. Stay tuned for more updates and enjoy your trading journey
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by MyCryptoParadise_Simon
Potential Falling Wedge Pattern Formation on $SUSHI/USDT Chart#SUSHI #DEFI #FallingWedge #PatternFormation #TradingView Hello traders! 👋 I wanted to share an interesting chart observation I made on the $SUSHI/ AMEX:DEFI pair. It appears that a potential falling wedge pattern is forming, which could indicate a bullish reversal in the near future. Let's dive into the details! 1️⃣ Falling Wedge Formation: The price action on the $SUSHI/ AMEX:DEFI chart shows a series of lower highs and lower lows, converging between two trend lines. This pattern is commonly known as a falling wedge, characterized by a contracting range. Falling wedges are often considered bullish reversal patterns. 2️⃣ Volume Analysis: Volume plays a crucial role in confirming patterns. Ideally, we would like to see declining volume as the wedge develops, followed by an increase in volume upon breakout. This could indicate a strong buying interest that could potentially propel the price higher. 3️⃣ Resistance and Support Levels: The upper resistance trend line and lower support trend line are important areas to monitor. A break above the resistance line, accompanied by a surge in volume, may suggest a bullish breakout. Conversely, a breakdown below the support line could invalidate the pattern. 4️⃣ Price Target and Stop Loss: If the falling wedge pattern confirms, a common technique to estimate the potential target is to measure the distance between the widest part of the wedge and add it to the breakout point. As for stop loss placement, it is often set below the support line to limit potential losses. Keep in mind that technical patterns are not foolproof and should be combined with other forms of analysis, such as fundamental research and market sentiment, before making trading decisions. To summarize, the $SUSHI/ AMEX:DEFI pair is exhibiting a potential falling wedge pattern, which suggests a bullish reversal might be on the horizon. However, confirmation is required through a breakout above the upper resistance trend line and a surge in volume. Traders should exercise caution and consider utilizing proper risk management strategies. What are your thoughts on this pattern? Share your insights below! Remember to do your own analysis and consult with financial professionals before making any investment decisions. #SUSHI #DEFI #FallingWedge #PatternFormation #BullishReversal #TradingAnalysis #TechnicalAnalysis #Cryptocurrency #TradingView
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by STP_MrNodeItAll
The end of sushi ??The market's current outlook for SushiSwap (Sushi) is on the verge of a potential liquidity grab within the 0.50-0.59 price level range. In other words, the market is poised to trigger a selling or buying spree within this range, which could lead to a significant price movement in the near future. The chart for SushiSwap currently exhibits a very unappealing trend, leaning toward the bearish side. This suggests that the market sentiment is pessimistic, with more investors betting on the price to fall rather than rise. Bearish trends are typically characterized by lower highs and lower lows, indicating a downtrend in the price. This condition is not favorable for those who are long on the cryptocurrency. However, it's important to remember that these trends don't immediately translate into action. The market still awaits the breakdown of this bearish pattern. A breakdown occurs when the price of an asset falls below a support level, often a significant psychological level, confirming the bearish trend. This is a critical phase as it provides a more solid foundation for a bearish market prediction. Once this bearish pattern is confirmed with a breakdown, that's when we might consider a more aggressive short position. Shorting, or betting that the price will go down, can be a risky strategy, but it can also be profitable if the market continues in the anticipated direction. In this context, we have set three target prices (TP) which are points where we may consider closing our positions to capture profits or limit losses. The first target price (TP1) is at 0.70, indicating that if the price were to rebound to this level, we might consider closing our positions. This would protect against the risk of the market reversing its bearish trend. The second target price (TP2) is at 0.59. This is in line with the initial range we discussed, and if the price hits this level, it's a sign that the market is moving as expected, and we could consider taking some profit off the table. Lastly, the third target price (TP3) is at 0.49. If the price reaches this level, it would be a strong indication that the bearish trend is fully in play. At this point, we could consider closing the rest of our short positions to capture the maximum potential profit from this trade. But again, it's critical to monitor the market conditions closely and adjust strategies as needed.
by Bitsleader
2
Sushiswap is a promising project for a bull cycleSushiswap , a decentralized exchange that appeared in the first era of DeFi sector development, is a fork of Uniswap. The project has gained popularity through the release of its native SUSHI token and the attraction of active Uniswap users. In early May, Sushiswap launched the ability to launch concentrated liquidity pools (CLP) that offer a number of advantages over traditional liquidity pools. Some of the benefits of CLPs are: Increased profitability for pool participants: in a CLP, liquidity is concentrated around a certain price range, allowing participants to get more profitability when trading tokens. Reduced gas costs: In a CLP, transactions can be executed faster and with lower gas costs because the prices of tokens in the pool remain stable. Greater efficiency: CLPs allow you to create pools of liquidity with greater efficiency because participants can get more return for their liquidity than in traditional pools. Faster and cheaper trading: due to a higher concentration of liquidity, trading tokens in a CLP can be faster and cheaper, providing a better trading environment. Due to this and Sushiswap's strategy of spreading to as many networks as possible, this could potentially increase the project's impact on the DEX segment. Sushiswap is currently the closest competitor to Uniswap in the key metrics of Price/Fees and Price/Earnings, which shows the soundness of the product and business. If we look at Sushiswap in terms of technical analysis and charts, we see that Sushi is currently trading in the price range of November 2020, if we look at the SUSHI/ETH pair which shows us the ratio of the asset to ETH, we see that since March 2021, Sushi has been in a long downtrend and has been losing the dominance for 2 years now at the lowest level. If we are sure that the current price movement is bullish and we came out of the bearish cycle, from the analysis of previous bullish cycles, we can set the basic levels for taking positions in SUSHI and expect the start of the alt season, when the project should show positive dynamics and win back the dominance lost from ETH. As a rule of thumb, a full-fledged alt-season begins at the end of a bull cycle about 600 days after the exit from a bear market. So readers, you definitely have time to read this article, DYOR and prepare for this stage as much as possible.
by Samura0x
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