- Sushiswap is up 3.45% and is trading at $1.12 as of press time
- SUSHI’s trading volume has somewhat increased over the past day and is now worth $64,829,166 after inclining by 73.34%.
- Overall, market sentiment for SUSHI is positive, and it appears that the coin will continue to rise in the near future.
According to Sushiswap analysis, a bullish trend has dominated the charts for the past 24 hours. The coin’s price has significantly increased; it is now worth $1.12, up 3.45% just in the last day. This bullish momentum is being supported by the cryptocurrency market’s general optimism, which has increased as a result of gains in recent trading sessions.
The market has been viewed as torn between bulls and bears, but the bulls have taken back control and driven prices up to $1.12, where they are now. SUSHI’s trading volume has somewhat increased over the past day, and it is now worth $64,829,166 after inclining by 73.34%. The market capitalization rose by 2.8% to $247,798,042.
Currently, the key support level at $1.09 is keeping the price of SUSHI stable and the currency at a high level. The most important of these is the $1.08 support level, which has stopped the price from dropping much lower. The $1.95 resistance level, which is the current target for SUSHI, has also had a big impact on the current positive trend.
![SUSHI/USDT 1-Day Trading Chart (Source: Tradingview)]](https://coinedition.com/wp-content/uploads/2023/01/image-72.png)
The price of SUSHI is currently past the top band indicating a positive bullish trend. Additionally, the relative strength index (RSI), which is at 61.26 right now and is gradually moving up into the overbought area, indicates that prices may consolidate at these levels before a breakthrough. The MACD line (blue) moving above the signal line on a daily basis indicates that the bullish momentum is gaining strength (orange).
This MACD line’s upward trend and its movement toward the positive region to portend continued bullish dominance in the SUSHI market. This bullish forecast gets more credible as the histogram climbs higher and higher into the green area.
The 4-hour SUSHI price analysis shows that the market has established a modest bullish trend line, despite the bears’ attempts at reversal. The prices haven’t changed much in the last four hours. The bears have kept prices a bit low at $1.115 and are expected to do so in the near term before a reversal. The volatility of the SUSHI/USD pair is also increasing, which is a positive sign for buyers in terms of future price trends.
Overall, market sentiment for SUSHI is positive, and it appears that the coin will continue to rise in the near future. The bullish trend line is currently supporting prices, and if the bulls can maintain control of the market, SUSHI could see further gains.
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