Sushiswap Price Analysis: SUSHI/USD eyes $14 mark

Sushiswap is presently in a bull market, although values dropped by roughly 20%. SUSHI/USD is currently upswing, following a considerably steeper high yesterday and a modest overnight retracement. Today’s price movement should be positive for both buyers and sellers. With today’s $14 level as the first resistance

The price of SUSHI/USD rose to an overnight high of $13.53 before falling back to the $12 level where it is currently trading, after a 30% decrease in value over 24 hours. Do not be fooled by the bullish sentiment and think it will be plain sailing from here on out; there was a 30% drop in price overnight, and those values are likely to retrace.

The price of SUSHI/USD, which was last seen at $13.53 overnight, has since dropped back to around the $12 mark where it is presently trading. There was a 30% drop in value in 24 hours, so be careful not to get carried away by the bullish sentiment.

SUSH/USD has already achieved a 20% price rise in just two days, surpassing the downtrend resistance line on Tuesday. The currency has had two significant increases of more than 20 percent before falling back to the $10 level.

SUSHI/USD 4-hour chart: SUSHI is currently under heavy selling pressure

On the four-hour chart, we can see that the price of Sushiswap has fallen this morning as profit-taking occurs below the $13 high.

SUSHI/USD 4-hour chart. Source: TradingView

Sushiswap spent several weeks in a consolidation pattern. Resistance was established at $12, with the $11 mark as a centerline. After more gains were rebuffed, lower lows indicated bearish momentum was building.

On the other side, SUSHI/USD rose to a stunning high on November 1, resulting in a significant boost across the prior day. The highs for Sushiswap were about $13, and it declined somewhat as bulls are likely readying for another push-up.

As a result, the market has resumed its bull run. If our current swing low of $12.3 is maintained, we may anticipate further gains later today. The possible SUSHI/USD target is $14, which was previously a significant reversal point.

On the four-hour chart, we can see that the price of Sushiswap has fallen this morning as profit-taking occurs below the $13 high.

Sushiswap spent several weeks in a consolidation pattern. Resistance was established at $12, with the $11 mark as a centerline. After more gains were rebuffed, lower lows indicated bearish momentum was building.

Sushiswap Price Analysis: Conclusion 

The Sushiswap market is currently bullish, with a large increase last night followed by a retreat overnight. SUSHI/USD will likely be ready to continue rising soon, with a peak of $12.3 predicted.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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