Price Analysis

Despite the Bears Unfurled, the Space, Yet Sushiswap(SUSHI) Price Maintained Upward Trajectory!

Written by: Sahana Vibhute

Written by right arrow

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

  • author facebook
  • author twitter
  • linkedin

Dec 29, 2021

news-image
Highlights

    Sushiswap is heading towards the double-digit target yet again, yet the ATH remains pretty much distinct

    SUSHI price currently is attempting to have a bullish daily close, but the bears could also give a tough competition in the next couple of hours

Sushiswap appeared as one of the greatest surprises within the crypto space as it began trading on all major platforms being valued at more than $15. Despite the pullback, the asset did not remain under $1. As the 2021 bull run quickly gained momentum which uplifted the price to as high as above $23 by mid-March. Despite a slight pullback, the asset range was high to regain lost positions above $22 yet again but could not smash the current ATH. 

Advertisement

However, the SUSHI price dropped drastically below $10 and quickly regained the lost bullish momentum and propelled high. The most recent December crash dragged the price below $5, yet the asset managed the trembled situation well and quickly flipped and initiated its attempt to regain its lost position ranging above $6. Currently, the asset despite appearing to be painted in green yet could fall prey to the bears very soon. 

What Lies Ahead For SUSHI?

Currently, the SUSHI price has failed to test the crucial 200-MA levels at $9.623 and dropped down towards $9.092 levels. The asset flipped the bearish trend during the previous working day, after a very tough fight among the buyers and sellers. However, currently despite a notable buying volume mounting on the platform yet the candle still remains ‘Doji’. And hence indicating a trend reversal at any time from now. 

The asset needs to surpass a minimum of $10 across the 200-day MA in order to certify with the uptrend. Further, if the SUSHI price achieves the $14 resistance target, a notable bull run may be set in place. However, the yearly trade of 2021 could be pretty bearish but sentiments may be extremely bullish. And in such a case, one can expect a kick-starter beginning of 2022. 

Show More

Was this writing helpful? myImage dislikeimage

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Back to top button