Sushiswap Cracks 24% Gains As Market Rebounds; Is This A Fakeout?
14 Octobre 2022 - 3:54PM
NEWSBTC
SUSHI price shows real relief signs after a long while, as the
price could be set to retest at $2.5 if this trend needs to be
sustained. SUSHI tops the crypto price as it cracks over 24%
gain in less than 24 hours. The price of SUSHI shows bullish
signs as the price reclaims the 50 Exponential Moving Average (EMA)
with good volume. The price of Sushiswap (SUSHI) has recently
struggled to reclaim its bullish strength against tether (USDT),
rallying from a low of $0.5 to $20. The crypto market faced a new
setback as Bitcoin’s (BTC) price dropped from $19,000 to $18,100 as
the Consumer Price Index (CPI) suggested an increase in inflation,
affecting the price of BTC negatively, with altcoins affected.
Still, the likes of Sushiswap (SUSHI) have shown incredible
strength. (Data from Binance) Related Reading: Dogecoin Can Regain
Losses If DOGE Extricates Itself From This Level Sushiswap (SUSHI)
Price Analysis On The Weekly Chart After seeing the market drop
instantly with the CPI news, the market rebounded as what looked
like a short squeeze, with Bitcoin (BTC) rallying from a low of
$18,200 with what seems to be a demand zone for most buyers and
institutions. The price bounce has been a catalyst for most
altcoins, including SUSHI, producing over 24% gains in less than 24
hours of movement. It’s still yet to be seen if this bounce
is a fakeout or will be sustained as Bitcoin Dominance continues to
rise; this will impact the price of altcoins, especially when BTC
retraces, causing more retracement for altcoins. October started
looking rosy for altcoins, as altcoins had significant strength to
rally. Many traders hope this will be a month of Uptober for the
crypto industry haven experienced a tough bear season. The price of
SUSHI saw its price rally from a low of $0.5 to an all-time high of
$20, but that region soon rejected the price, and SUSHI has
struggled to rekindle that bullish run as price declined to a low
of $1. But the price of SUSHI seems to have found its mojo as price
gears for a rally to a high of $2.5 if this current structure
remains intact. Weekly resistance for the price of SUSHI – $2.5.
Weekly support for the price of SUSHI – $1. Price Analysis Of SUSHI
On The Daily (1D) Chart The daily timeframe for the price of SUSHI
looks good, showing incredible strength as the price reclaimed the
50 Exponential Moving Average (EMA), acting as resistance for
SUSHI’s price on the daily timeframe. The price of $1.2 corresponds
to the 50 EMA acting as support for the SUSHI price. SUSHI’s
price is faced with the task of flipping key resistance at $1.6
into support; if the price of SUSHI succeeds, we could see a rally
to $2. Daily resistance for the price of SUSHI – $1.6. Daily
support for the price of SUSHI – $1.2. Related Reading: Uniswap
Soars 14% In Last 24 Hours – Can UNI Slingshot Past $6? Featured
Image From NBTC, Charts From Tradingview
Uniswap (COIN:UNIUSD)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Uniswap (COIN:UNIUSD)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024