- SushiSwap price analysis shows an uptrend today and trading at $0.971 at the time of writing.
- The strongest support for SUSH/USD is present at $0.9492.
- SushiSwap’s price faces rejection at the $0.981 level.
Sushiswap shows an uptrend in the crypto market as it crossed the $0.9 mark. Currently, SUSHI is trading at $0.971. Notably, the market has been very volatile over the past few weeks, with some significant price swings.
The market capped yesterday in tremendous momentum and is opening today with hopeful bullish signs adding to yesterday’s spike above the $0.9492 level, which is the strongest support for SUSHI/USD. There is a strong resistance level at $0.981, which is faced by the bulls on their rally today.
Looking at the daily price chart of SushiSwap, we can see that the price has been in a strong uptrend over the last month. The chart also shows that there is an increasing demand for SUSHI tokens, as traders and investors are looking to capitalize on the bullish trend.
There is also a strong support level near the $0.9492 mark, which has been tested and so far held. Moving forward, it is likely that the price will continue to rise if the bulls manage to push through the $0.981 resistance level.
The moving average convergence and divergence (MACD) indicator on the daily chart is still in an uptrend movement. The MACD line (blue) is rising above the signal line (red) indication that Sushswap will continue to see strong and steady growth in price over the coming days.
The relative strength index (RSI) indicator is currently at 37.11 which is below 50 level, indicating that the market close to the oversold territory. Moreover, the 50 SMA and 200 SMA is holding strong support and is likely to continue to do so in the near future.
On the 4-hour candlestick chart, for SUSHI/USD we can see that the price is still in a bullish momentum, with the bulls pushing through the $0.981 resistance level. The 24-hour trading volume has been increasing steadily, suggesting that the buyers are still in control of the market. The MACD indicator is also bullish but has not yet crossed into a buy signal.
Overall, Sushiswap looks bullish and the price is expected to continue to rise as long as the $0.981 resistance level is not breached. The market is likely to remain volatile in the short term, however, with bullish sentiment continuing to grow, the long-term outlook looks promising.
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