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The bull market was immediately met with strong resistance on the same day the bullish recovery started. SushiSwap had a new support level close to the resistance level. This narrows the price channel as the market enters a period of price consolidation.
SushiSwap Market Price Statistic:
- SUSHI/USD price now: $1.26
- SUSHI/USD market cap: $165,894,645
- SUSHI/USD circulating supply:127,244,443.00
- SUSHI/USD total supply: 244,542,059
- SUSHI/USD coin market ranking: #136
Key Levels
- Resistance: $1.35, $1.40, $1.45
- Support: $1.20, $1.15, $1.10
SushiSwap Market Price Analysis: The Indicators’ Point of View
After a while of price consolidation, the price of the market finally finds its way above the 20-day moving average. The price has now reached the point of equilibrium as the buyers take the first step towards securing a trend for themselves. In the MACD, the bullish crossover is still fresh and the MACD line has not gone too far as to validate the first step taken in the upside direction. With the increase in the volume of trade, the bullish price will break the resistance level.
SUSHI/USD 4-Hour Chart Outlook
In the first session, the massive bullish price hits the resistance which is at $1.276. But because the bullish momentum is faced with a very strong resistance level, the price remains pegged around the current price. If the buyers can secure support at the current price, the price will continue to appreciate.
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