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SUSHI Price Analysis: Reached again to the level of monthly high

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  • SUSHI has more than 150k+ holders and has total liquidity of 2.78B.
  • SUSHI has earned the government rights and 0.005% of all chain swaps in a simple place.
  • The RSI oscillator for SUSHI shows the SELL action.
https://s3.tradingview.com/snapshots/7/7GqMDIxM.png

The token has shown the pattern of bullish engulfing at the morning of 27 July. SUSHI possesses circulating supply of 127,244,443 SUSHI coins and a maximum supply of 250,000,000 SUSHI coins.The last known price of this token, is 8.08 and is down by 13.04% over the last 24 hours. It has the current trading volume(s) of 433,045,360 with a gain of 33.85% over the last 24 hours. SUSHI has addresses of 60,031 with the active address(es) of 1567 in the last 24 hours.

The chart above shows the movement of SUSHI where 200 DMA has been running above it and even DMA-50 was above it until 23 July. We see the token with respect to SMA’s which are 20, 50 and 200 and it is SMA-20 which is above both the other two SMA’s. We see an upward pattern where the bears have trouble winning. The trend line marked shows this upwards shifting. The candles forming now are sinking below the level of SMA-200 and it seems that candles would be sinking further more and enable SMA-20 to sink below to SMA-50. The returns generated under the trendline period was 15-20%.

Its top 10 and 20 holders have more than 70% holdings and top 50 and 100 have more than 80% which makes the strong supply side of the coin.

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 33.307 and marks the sell action. MA-5, MA-10 and MA-20 show the sell action. Even MA-100 shows the same sell action but MA-200 shows the buy action. However, the SUSHI at present is sinking and wait for a while for it to sink further then make a purchase, if it achieved decent returns then sell it.

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The bull/bear power has the value of -1.0160 and shows the sell action. The high/low marks the buy action with the value of -0.4463.

The SUSHI-BTC pair is trailing at the level of 0.0002185 and the low 10.85% was seen whereas the SUSHI-ETH pair is trailing at the level of 0.003699 and the low of 7.67% was seen in the last 24 hours. The volume/market cap of the token is 0.4214 and its market dominance is 0.07%.

Prevailing the same situation today as the circle has

https://s3.tradingview.com/snapshots/v/VH9ZKUK7.png

Conclusion: The days range for the coin is 7.8640-9.6720 and presently is at 8.0250. The 24 hours high and low of the coin is 9.61 and 7.88 respectively. We observed that the coin is sinking now and might follow the same scenario as marked in the circle. So in order to buy this token wait for a while to let it fall more otherwise do the sell if attained the returns.

Technical Instruments:

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Pivot: 7.9733

R-1: 8.0386

R-2: 8.0790

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S-1: 7.9080

S-2: 7.8676

Note:

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

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Sushiswap price analysis: We expect SUSHI/USD to retrace to $10 support level

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  • Sushiswap price analysis is bullish for today.
  • SUSHI/USD saw further downside over the last 24 hours.
  • SUSHI/USD will need to exceed the local resistance at $10.35.

The price analysis of Sushiswap is favorable for now, as the market has retraced to the $10 mark in the last 24 hours and has indicated resistance to more losses. As a result, we anticipate that SUSHI/USD will reverse and recoup some of its losses later today.

Sushiswap price movement in the last 24 hours: Sushiswap are finding stronger support beyond $10

SUSHI/USD has been fluctuating between $9.98 and $12.35 since yesterday, suggesting a significant price movement in the last 24 hours. SUSHI/USD dropped to a low of $9.0 today, reaching strong support at this level and signaling that the market is looking to reverse further losses.

On the daily chart, we can see that SUSHISWAP/USD has dropped below a critical support level around $9.1 and formed a double bottom pattern which serves as a strong buy signal. As the market has retraced to the $9.5 mark, we anticipate that SUSHI/USD will reverse and rise above $10 again.

SUSHI/USD 4-hour chart: SUSHI ready to reverse from the $10 support?

On the four-hour Sushiswap price analysis chart, reversed its downward trend and is now heading higher after dropping below $10. In the 4-hour chart, SUSHI/USD is currently finding support at $10 and is ready to reverse.

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Sushiswap price analysis: We expect SUSHI/USD to retrace to $10 support level 1SUSHI/USD 4-hour chart. Source: TradingView

Over the previous seven days, the price of Sushiswap has been fluctuating dramatically. Following a jump to $10 on September 7, SUSHI/USD remained consolidating and retested the $10 support twice over the following days.

On September 13, the price was put to the test for the second time in a week. The market advanced above $12 local resistance and then rallied for 24 hours before topping out at $16.

Bears dominated the market, and the Sushiswap price tumbled by more than 40% until support was found around $10 earlier today. We anticipate a reversal to happen later in the week if bulls continue to reject additional downside.

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We can see from the 4-hour chart that technical indicators are suggesting a further rise. The MACD and RSI both have positive momentum, indicating that buyers may be regaining control of the market.

Sushiswap Price Analysis: Conclusion 

SUSHI/USD will need to exceed the local resistance at $10.35, which is a crucial level given that it has been historical support for the Sushiswap market in recent weeks. If confirmed, this will allow the price to rally up to its previous peaks near $20 and continue above them with a positive momentum going into the following week.

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SushiSwap denies reports of billion-dollar bug

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One of the developers behind popular decentralized exchange SushiSwap has rejected a purported vulnerability reported by a white-hat hacker snooping through their smart contracts.

According to media reports, the hacker claimed to have identified a vulnerability that could place more than $1 billion worth of user funds under threat, stating they went public with the information after attempts to reach out to SushiSwap’s developers resulted in inaction.

The hacker claims to have identified a “vulnerability within the emergencyWithdraw function in two of SushiSwap’s contracts, MasterChefV2 and MiniChefV2” — contracts that govern the exchange’s 2x reward farms and the pools on SushiSwap’s non-Ethereum deployments, such as Polygon, Binance Smart Chain and Avalanche.

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While the Emergency Withdraw function allows liquidity providers to immediately claim their liquidity provider tokens while forfeiting rewards in the event of an emergency, the hacker claims the feature will fail if no rewards are held within the SushiSwap pool — forcing liquidity providers to wait for the pool to be manually refilled over a roughly 10-hour process before they can withdraw their tokens.

“It can take approximately 10 hours for all signature holders to consent to refilling the rewards account, and some reward pools are empty multiple times a month,” the hacker claimed, adding:

“SushiSwap’s non-Ethereum deployments and 2x rewards (all using the vulnerable MiniChefV2 and MasterChefV2 contracts) hold over $1 billion in total value. This means that this value is essentially untouchable for 10-hours several times a month.” 

However, SushiSwap’s pseudonymous developer has taken to Twitter to reject the claims, with the platform’s “Shadowy Super Coder” Mudit Gupta stressing that the threat described “is not a vulnerability” and that “no funds are at risk.”

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Gupta clarified that “anyone” can top up the pool’s rewarder in the event of an emergency, bypassing much of the 10-hour multi-sig process the hacker claimed is needed to replenish the rewards pool. They added:

“The hacker’s claim that someone can put in a lot of lp to drain the rewarder faster is incorrect. Reward per LP goes down if you add more LP.

The hacker said they had been instructed to report the vulnerability on bug bounty platform Immunefi — where SushiSwap is offering to pay rewards of up to $40,000 to users who report risky vulnerabilities in its code — after they first reached out to the exchange.

They noted that the issue was closed on Immunefi without compensation, with SushiSwap stating it was aware of the matter described.

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SushiSwap

SushiSwap denies reports of billion dollar bug

Published

on

The developer behind popular decentralized exchange SushiSwap has rejected a purported vulnerability reported by a white-hat hacker snooping through their smart contracts.

According to media reports, the hacker claimed to have identified a vulnerability that could place more than $1 billion worth of user funds under threats, stating they went public with the information after attempts to reach out to SushiSwap’s developers resulted in inaction.

The hacker claims to have identified a “vulnerability within the emergencyWithdraw function in two of SushiSwap’s contracts, MasterChefV2 and MiniChefV2” — contracts that govern the exchange’s 2x reward farms and the pools on SushiSwap’s non-Ethereum deployments such as Polygon, Binance Smart Chain and Avalanche.

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While the emergencyWithdraw function allows liquidity providers to immediately claim their LP tokens while forfeiting rewards in the event of an emergency, the hacker claims the feature will fail if no rewards are held within the SushiSwap pool — forcing liquidity providers to wait for the pool to be manually refilled over a roughly 10-hour process before they can withdraw their tokens.

“It can take approximately 10 hours for all signature holders to consent to refilling the rewards account, and some reward pools are empty multiple times a month,” the hacker claimed, adding:

“SushiSwap’s non-Ethereum deployments and 2x rewards (all using the vulnerable MiniChefV2 and MasterChefV2 contracts) hold over $1 billion in total value. This means that this value is essentially untouchable for 10-hours several times a month.” 

However, SushiSwap’s pseudonymous developer has taken to Twitter to reject the claims, with the platform’s “Shadowy Super Coder Mudit Gupta stressing that the threat described “is not a vulnerability” and that “no funds are at risk.”

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Gupta clarified that “anyone” can top up the pool’s rewarder in the event of an emergency, bypassing much of the 10-hour multi-sig process the hacker claimed is needed to replenish the rewards pool. They added:

“The hacker’s claim that someone can put in a lot of lp to drain the rewarder faster is incorrect. Reward per LP goes down if you add more LP.”

The hacker said they had bee instructed to report the vulnerability on bug bounty platform Immunefi — where SushiSwap is offering to pay rewards of up to $40,000 to users that report risky vulnerabilities in their code — after they first reached out to the exchange.

They noted that the issue was closed on Immunefi without compensation, with SushiSwap stating they were aware of the matter described.

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