SUSHI Technical Analysis: Sushi Prices Skyrocket With Trendline Breakout

SUSHI prices experience a surge in the underlying bullishness as the market prices surpass the long-coming resistance trendline.   Key technical points: The SUSHI market price has appreciated 0.55% over the past 24 hours. The price action teases a breakout rally of the falling channel. The 24-hour trading volume of Sushiswap is $76.05 Million, indicating a hike of 23%. Past Performance of SUSHI The SUSHI price chart showcases a falling trend under the influence of a resistance trendline, accounting for a drop of 80% to a low of $0.85. However, buyers immediately overtook the trend control resulting in a price jump to $1.25, accounting for a 35% appreciation last week. Source- Tradingview SUSHI Technical Analysis  SUSHI price action displays an upward trend after the trendline breakout, but the higher price rejection candles in the daily chart signify a possible reversal. Therefore, those hoping for a bull run should be patient for the market price to sustain above $1.25. The DMI indicator indicates a weak spot in the bearish trend as the DI lines prepare for a bullish crossover. Thus, the trend reversal crossover could show a potential buying opportunity for traders. The RSI indicator shows an upward trend, which reverses from the oversold boundary and gradually advances towards the halfway point. The 14-day SMA displays a trend higher than the 30% mark; however, the impact of bulls grows slowly. The MACD indicator shows the fast and slow lines that return to a positive direction from the zero line while remaining clear of the bearish cross. Furthermore, the bullish trend in the histogram’s return shows an increase in buying pressure. In a nutshell, the SUSHI price action forecasts a breakout rally surpassing the $1.50 mark. Upcoming Trend Considering the breakout rally sustains above $1.25, SUSHI prices will soar to $1.50 with the support of increased trading volume. Resistance Levels: $1.50 and $1.72 Support Levels: $1 and $0.85

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