- Sushiswap price analysis is bullish.
- SUSHI/USD is trading at $10.6.
- Yesterday’s Brief Retest of $10 Support.
Today’s Sushiswap price analysis is bullish, as the downside momentum was once again rejected, suggesting that bulls continue to build momentum to break out above the $11 resistance. As a result, we anticipate that SUSHI/USD will rise more over the next 24 hours and try to reach the $12 barrier.
In yesterday’s Sushiswap price analysis, we briefly mentioned that a brief retest of $10 was imminent as there is a significant level of support for this area but cautioned against buying at this point.
Sushiswap price movement in the last 24 hours: Sushiswap finds support above $10 again
As predicted, SUSHI/USD found support above $10 and moved slightly higher to trade at the low-$11 range. The price of SUSHI/USD is currently sitting at $10.90, meaning that the test was a success, and we can be optimistic about the direction of this market in today’s Sushiswap price analysis and beyond.
Today’s Sushiswap price analysis suggests that the market is bullish, as once again, SUSHI/USD rose after it had fallen slightly during early trading hours. This goes to show that there are bulls in this market eager for some upward momentum, even if it takes some time for this to materialize into a breakout above $11 resistance.
Bullish signs were present in yesterday’s Sushiswap price analysis too. Still, traders could have used this opportunity to buy at around $10 before the slight rise that materialized today, while it may still be too early to buy today. As a result, we will have to wait and see whether bulls can push prices higher by around $0.50 for SUSHI/USD to break out above this level and provide a promising run towards the end of the month.
In yesterday’s Sushiswap price analysis, we noted that significant support at around $10, which is where buyers found themselves interested again today after a brief rise lower during the early trading hours. If this level continues to hold above any retests, then we could see some more upside momentum before the month is over.
SUSHI/USD 4-hour chart: SUSHI to break $12 over the weekend?
SUSHI/USD 4-hour chart. Source: TradingView
Technical indicators on the 4-hour chart also suggest that bulls are building momentum, as the RSI has moved above 50, indicating that prices are moving upwards over time rather than downwards. On top of this, MACD is still not showing any signs of bearish divergence at the moment, which would have indicated that sell pressure was increasing and buyers were struggling toUSHI/USD 1-day chart: A promising run at the end of the month?
The Sushiswap price analysis on the daily chart is giving more bullish signs. We can see that bulls are attempting to break out above $11 resistance, with some minor success so far.
Sushiswap Price Analysis: Conclusion
We expect that the prices will continue to respect $11 resistance until it has been tested enough times successfully to suggest that bulls are strong enough to break through this barrier. It could take days or weeks for this level to be tested frequently enough, but we could see minor retests happen slightly below this level within a day.
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