Sushiswap Price Analysis: SUSHI Coin Chart Showcases Minor Signs of Positivity

  • SUSHI coin price action testing the 50-EMA during the intraday trading session.
  • The 24-hour trading volume is at $259 million.
  • SUSHI/BTC pair is trading positive by 2.1% at 0.00020984 BTC.
Source: SUSHI/USD on TradingView

The daily technical chart of the SUSHI coin projects a bullish trend. According to Pivot points (FIB), Sushiswap’s crucial support level is $6.32. Conversely, if it moves up, the necessary resistance level to observe is at $9.22. Thus, while the intraday chart forms a Bullish Harami candlestick pattern, predicting prices is an uptrend with medium dependability.

The exponential moving average (EMA) composed of 50,100,200-EMA can be a reliable support for currency price changes. However, investors can observe that the price is below the orange line 200-EMA, ensuring a downward trend of SUSHI price until it stays below the 200-EMA.

The volume of (2.295M) is above the MA of 20-days (7.632M). Buying pressure is low in SUSHI, causing its price to remain around the resistance zones. Investors may also observe diminishing volume bars in the chart, which indicates a big move is expected in upcoming trading sessions.

The Schaff Trend Cycle indicator (bullish) with a 99 represents a buy signal in the coin, projecting an uptrend. Additionally, Investors can see a green buy signal and an upward slope in the index.

Sushiswap (SUSHI) Coin Needs to Break Above 50- EMA

SUSHI coin price is at $8.34, with a daily gain of 2.1% and a weekly gain of 2.1%. In addition, the price is testing the 50-EMA. The STC indicator shows a buy signal, and the traders have guided low buying pressure. Technically, the price shows minor signs of positivity and soon may hit resistance with this kind of buying support, leading prices to rise further. Therefore, as with overall market sentiment, the trend remains bullish.

Resistance Level: $9.22

Support Level: $6.32

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