The SushiSwap price prediction shows that SUSHI heads toward the upper boundary of the channel, if the price rises further, it could create additional gains.
SushiSwap Prediction Statistics Data:
- SushiSwap price now – $1.01
- SushiSwap market cap – $237.3 million
- SushiSwap circulating supply – 3231.8 million
- SushiSwap total supply – 250.1 million
- SushiSwap CoinMarketCap ranking – #152
Resistance levels: $1.35, $1.40, $1.45
Support levels: $0.80, $0.75, $0.70
SUSHI/USD is currently trading around the $1.10 level above the 9-day and 21-day moving averages. In the range of the ascending channel, the closest resistance could be located at $1.20, with a close resistance at $1.25. Meanwhile, if the market increases, additional resistance can be found above the upper boundary of the channel.
SushiSwap Price Prediction: SushiSwap (SUSHI) May Go Bullish
As revealed by the daily chart, it is obvious that the SushiSwap price may likely create more bullish trends once the coin touches the potential resistance level of $1.15, and this is noticeable for the technical indicator as the 9-day moving average keeps hovering above the 21-day moving average.
Despite facing fluctuations, the SushiSwap price consistently bounces back from its initial price of $1.01. Yet, a bearish trajectory below the moving averages poses the risk of a significant downtrend towards the lower boundary of the channel. Meanwhile, key support levels for the coin are anticipated at $0.80, $0.75, and $0.70, providing potential stability. On the other hand, resistance levels are identified at $1.35, $1.40, and $1.45, showcasing the challenges and opportunities within the current market dynamics.
SUSHI/BTC Spikes to the Upside
Against Bitcoin, the SushiSwap price is heading toward the upper boundary of the channel, but the support level is built around 2600 SAT. Meanwhile, the nearest resistance level could be located at 3100 SAT because the market price is still hovering above the 9-day and 21-day moving averages. Looking at it technically, the market price may continue to follow the bullish movement if the 9-day MA remains above the 21-day MA.
Nonetheless, if the SushiSwap price slides below the 9-day and 21-day moving averages, SUSHI/BTC may likely hit the support level at 2200 SAT and below. From the upside, any bullish cross above the upper boundary of the channel may allow the market to form a new upward trend and could reach the potential resistance at 3500 SAT and above.
Alternatives to SushiSwap
At the moment, SushiSwap is trading at $1.10, maintaining its position above the moving averages. The potential for SUSHI/USD to surpass the upper boundary of the channel exists if buying pressure from the bulls intensifies. To counteract downward pressure, SushiSwap (SUSHI) needs to emphasize a bullish trajectory as the nearest support level is anticipated at $0.95, representing a possible daily low. SushiSwap must concentrate on upward momentum to mitigate any potential downward trends.
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