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In the last trading session, SushiSwap bulls began the upside movement of the price. After breaking the $1.26 resistance level, the next difficult price level will be the $1.4 resistance level. And that next resistance level is needed to be captured if the market will be established its new upside-moving trend.
SushiSwap Market Price Statistic:
- SUSHI/USD price now: $1.34
- 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
With the significantly bullish candle representing today’s trading activities after the one of yesterday, the SushiSwap bull market is another step, in the right direction, closer to regaining control over the market. And because of the bullish market of today, the Bollinger indicator gives the impression that buying pressure is finally catching up with the selling pressure. The Bollinger indicator illustrates this by portraying the upper and lower bands creating a horizontally moving channel. Another bullish price move is needed in the next trading session to change the direction of the market to the upside.
SUSHI/USD 4-Hour Chart Outlook
From the smaller time frame, we see that the buyers are ready for more action as it seems like a new support level is being formed at the $1.3 price level. The first two 4-hour sessions of today’s market went in favour of the buyer as they control the market. The next two sessions or the two recent sessions are showing a serious struggle for the price as the aggressive bull market is faced with strong selling pressure. This price remains pegged at this level for now. But if the buyers can hold fast their position at this level, the market will continue its upside journey breaking the $1.4 resistance level and changing the direction of the price channel to an upward moving one.
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