SushiSwap Witnesses a Bright Spark as Its Price Moves Up By 13.36%

Azeez Mustapha


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Today’s trading activities have been considerably profitable for the SushiSwap token, with an impressive price increase of 13.36%. However, ongoing trading activities suggest that more price movements might still be on the way.

Key SushiSwap Statistics:
Current Basic SushiSwap Value: $1.379
SushiSwap Market Cap: $320,662,170
SushiSwap Circulating Supply: 231,954,347
Total Supply of SushiSwap: 250,204,042
SushiSwap CoinMarketCap Ranking: 136

Key Price Levels:
Resistance: $1.379, $1.400, and $1.500
Support: $1.350, $1.300, and $1.250.

SushiSwap Eyes the $1.600 Price Level

The price of the SUSHI token has significantly moved upwards after its price action broke out of consolidation within a narrow price range of $0.652 and $0.546. The token now trades above the $1.350 price threshold. Although some rejections have been faced in the ongoing session, it stands that buyers are still holding a considerable amount of gains printed in the ongoing session.

Trading continues above the Bollinger Bands indicator MA. Notably, price activities haven’t pushed the uppermost limit of the Bollinger Bands, suggesting that traders may have less concern about a significant downward correction. Additionally, the Moving Average Convergence Divergence (MACD) indicator lines have continued to move upward above the equilibrium level, attesting to the fact that the uptrend may continue.

SushiSwap Witnesses a Bright Spark as Its Price Moves Up By 13.36%

SUSHI Keeps Gaining Higher Support Levels

Observing the SushiSwap 4-hour market reveals that price action in this market has been making upside progress, considering its trading pattern along the drawn upside-sloping trendline. Also, price action in the previous session has broken through the uppermost limit of the Bollinger Bands, and the ongoing session further shows promise of continuing the upside retracement.

Furthermore, the MACD indicator isn’t indicating a drop in price momentum, considering the behavior of the lines of this indicator as they continue trending upwards. Likewise, the bars of this indicator continue to appear above the equilibrium level. Consequently, this suggests that this market maintains its path towards the $1.550 mark.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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