SUSHIUSDT gained roughly 7.6% within the last 24hrs in the face of recent FUD by an anonymous white hack hacker who took part in the platform’s ImmuneFi bug bounty program. The decentralized exchange [DEX] stays range-bound trading within the $5.9681 and $22.5674 significant resistance and support levels on the higher time frames. Meanwhile, the 4HR time frame gives clues that we may be heading towards the upper bound of the long-term price range.
Let’s probe deeper into the price charts of the AMM decentralized exchange, starting from the daily time frame.
SUSHISWAP (SUSHI) Daily Chart Analysis
The governance token SUSHI dipped into a correction phase on 26 August, as the RSI crossed below the level-25 from the top. It sends the price chart into an expanding channel enclosed by bullish and bearish divergence patterns on 10 September and 16 September ’21.
A bullish engulfing candlestick pattern closed above a bearish inside bar resistance [$9.0609] on 25 September, showing immunity to the China crypto ban, and suggesting a price surge to the upper bound of the expanding channel at $16.1864.
Recommended Articles
SUSHISWAP (SUSHI) 4HR Chart Analysis
The above 4HR chart annotations show the SUSHIUSDT entering a range-bound market structure after the RSI went below level-25 on 18 September ’21 00:00.
A rather recent bullish divergence pattern on 29 September 20:00, that has forced the RSI above the level-75 shows that the bulls are getting ready to exit the current price range.
Bullish/Bearish Scenario
A price close above the $11.9625 price ceiling with a second entry of the RSI above level-75 will confirm absolute dominance by the bulls. On the contrary, we may see further price dip, if the bears force the SUSHI price below the $8.51 support.
SUSHISWAP SUSHI Intraday Levels
- Spot rate: $10.7482
- Mid–Term Trend [H4]: Slowing Bearish bias
- Volatility: Low
- Support: $8.510 and $9.2308
- Resistance: $11.9625 and $16.1864
- Breaking: HK Firm Becomes Top Holder In BlackRock Bitcoin ETF (IBIT) – Bloomberg
- Crypto Nightmare: Trader Loses $68M Wrapped Bitcoin (WBTC) In Single Click
- Top 5 Reasons Why Bitcoin Price Recovery Is Confirmed
- FriendTech Token Launches, Airdrop & Version 2 Go Live
- Kraken Subsidiary Is A Major Beneficiary Of Bitcoin ETFs In US & HK: Bloomberg
- BTC Price Forecast: Signs Bitcoin Is Suffering From Post-Halving Hangover?
- Cardano Price Analysis: Bottom Formation at $0.4 Sees $ADA to Rally 15%
- Crypto Price Prediction 3/5: Fresh Relief Rally Bolsters $BTC to Reclaim $60k
- 4 Dogecoin Rival Meme Coins To Buy For $100,000 Profit In May
- 3 Trending Crypto To Sell This May
Mallconomy 
WienerAI 
