SUSHI Price Analysis: Possibilities of chasing SMA-50 is confined

  • The 24 hours trading volume of the token is 174,966,708 and the low by 55.25% was seen. The live price of SUSHI is $6.84
  • The token has shown the pattern of a bullish doji star in the last 24 hours.
  • The RSI oscillator for SUSHI shows the SELL action.
https://s3.tradingview.com/snapshots/x/xNDzJtxK.png

The SUSHI has been running below its 200 days moving average and also below its 50 days moving average. However, the vertical lines marked show the sushi movement going up from DMA-50 and then DMA-200. The chart above shows the movement of the token with respect to SMA-20, SMA-50 and SMA-200. The thin trendline marked in the chart shows the support provided by SMA-50 to SMA-20 which lead to cross SMA-200. The returns moved to 30-40% in this zone. The coin then slipped and has fallen below the other two SMA’s. The trendline marks show the pattern formation and an upward movement is visible.

An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 43.564 and marks the sell action. MA-5, MA-10 and MA-20 show the sell action as well. However, the SUSHI at present is all set to buy. The SUSHI is running below its medium term(SMA-50) and long term averages(SMA-200). Sushi is currently resting at the trendline marked and it seems to show a hike in price in the coming time.

The bull/bear power has the value of -0.3740 and shows the sell action. The high/low marks the sell action with the value of -0.0182.

The SUSHI-BTC pair is trailing at the level of 0.0002168 and the low of 9.00% was seen whereas the SUSHI-ETH pair is trailing at the level of 0.003626 and the low by 5.99% was seen in the last 24 hours. The token has shown the percentage change by 10.64% since yesterday’s open.

The volume/market cap of the token is 0.199 and its market dominance is 0.07%.

Conclusion: The days range for the coin is 6.8230-7.6880 and presently is at 6.8360. The token is expected to show rise in the coming time but at present the token is gaining support on the trendline at $6.853. The bearish win in the market is continuing but in the coming time it is expected to go higher. Sushi has active addresses of 1567 in the last 24 hours and has total addresses of 58,834. Also, it’s top 10 holders have holdings more than 75% whereas its top 20 and 50 holders have more than 85% and its top 100 holders have more than 90% holdings. This shows the strong supply side of the coin.

Technical Instruments:

Pivot: 7.0273

R-1: 7.1385

R-2: 7.2071

S-1: 6.9161

S-2: 6.8475

(Note- The unit is USD)

Note:

  • The unit is USD
  • SMA-20: Green colour
  • SMA-50: Red colour
  • SMA-200: Blue colour

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