🍣SUSHISWAP price. Is it time "to taste" SUSHI again?🥢Today we will consider the trading pair SUSHIUSDT on the daily timeframe and tell you why this chart has attracted our attention.
During the DeFi boom of 2020-21, the SUSHISWAP protocol was quite popular and was always in the top 10 in terms of TVL. The maximum locked amount of pledged assets in the SUSHI protocol reached $7 billion, which was about 4% of the total TVL of the DeFi sector.
As of today, about $550mn is locked in the SUSHISWAP protocol, which is about 1% of the total TVL of the DeFi sector.
In principle, this is not a bad result and the share of "influence" in the DeFi sector. If we take into account the fact that the price of the SUSHI token has decreased by -90-95% over the past year and depreciated by 13-15 times.
So why has this project attracted our attention now, you may ask? And we will answer:
1. Increased trading volumes that began to return to the SUSHIUSD trading pair, and accordingly, this is an increased interest of both buyers and sellers to the coin. There is interest in the coin, so the project is "alive" even after such a strong and long fall.
2. Buyers managed to break through and consolidate above the liquidity zone of $1.50-1.60 and this is on the daily time frame. For the last six months, this liquidity zone was a strong resistance and did not let the price go up.
3. Even the most modest assumption regarding the potential for SUSHIUSDT price growth to the range of $3-3.30 from current prices is x2. Moreover, it can still be growth within the downtrend, that is, the price will be below the red trend line.
Summarizing:
In our opinion, as long as the buyers of SUSHI manage to keep the price above the liquidity zone of $1.50-1.60, there is a good potential for the price to rise first to $2.30, and in the best situation to $3-3.30.
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SUSHIPERP
SUSHI usdt is one of my favoritesi will set an order to go long on sushi at 1.022$ at x3 leverage.
If this order is filled,i will set 3 take profit orders
1.067 4.5% (13.5%)
1.095 7.1% (21.3%)
1.124 10% (30%)
I will cut losses if 4Hour candle closes below 0.995
(i will update here)
This idea is supported by technical analysis
and this week Sushi will announce a new CEO.
also,for the time being BTC will probably bounce around 22k which means most alts will bounce as well
FOLLOW FOR MORE
Sushi - Waiting for the setback. - 4hrs - LONGSushi broke a very very strong bearish resistance. But it took off very strongly. That is why I prefer to wait for a pullback before entering.
MANAGE YOUR RISK! The loss you take in case of failure should NEVER be more than 2% of your total capital. NEVER.
You invited to share your vision in the comments. Thank you
Bullish long on $SUSHI for a target of $40 Super Algorithm is still showing bullish and is producing a current green bar. If one has used the indicator, one would have unrealized 1072% non-leverage profit by now, as shown on the chart.
The FTX:SUSHIUSD has just passed the 50% fib area. It is a significant milestone. It quite often indicates price can and likely reach ATH in the long term.
As you can observe from the below chart, the $SUSHI price has created a good demand zone. I am putting the stop loss just inside.
Price going up when the parabolic SAR is going up is bullish. It is observed currently in the $SUSHI daily chart.
Currently, the $SUSHI daily price is at TD Sequential 5. I mean, there may be another four price rise day.
The $SUSHI daily chart is showing a higher high- higher low bullish pattern.
Ichimoku is strongly bullish on $SUSHI
Reasons:
Chiku is above the price & green cloud.
Price is above tenkan (red line). Tenkan is above kijun (blue line). Kijun is above a green Kumo cloud.
There are no tall structure in front of the Chiku.
Price has already retraced and bounced from the Tenkan and Kijun, finishing its retrace. It is not on its mission to hopeful $40 someday.
There is a squeeze (the red square marks) on the $SUSHI price right now. It means a big move is imminent.
Longed $SUSHI at 6.15 - Looking to TP around the 7.20 region$SUSHI looking interesting for a long at this stage, retesting and bouncing on previous support of 6.15. Hourly support holding up and looking nice for a long position.
Entry at 6.15 and looking to take profit around the 7.15-7.30 region. Stop set at 5.85.
Trading obviously comes with risks and as always this is not financial advice, just my thoughts.
SUSHIUSDT: Possible Long (28.11.2020)On D1, the price found support at $ 0.5, after which new resistance was set at $ 1.7.
On H4, the price corrected after building an upward impulse upward and found support at the $ 1 level. In addition, the RSI reached the oversold level, after which the price recovered in a new upward impulse.
We recommend buying SUSHIUSDT in order to keep the position above $ 3.