SushiSwap (SUSHI) Price Prediction 2022 — Will SUSHI Hit $2 Soon?

• Bullish SUSHI price prediction is $1.675 to  $7.708.
• SushiSwap (SUSHI) price might also reach $2 soon.
• Bearish SUSHI price prediction for 2022 is $0.898.

In SushiSwap (SUSHI) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about SUSHI to analyze the future movement of the cryptocurrency. 

SushiSwap(SUSHI) Current Market Status

According to CoinGecko, the price of SushiSwap (SUSHI) is $1.04 with a 24-hour trading volume of $37,210,046 at the time of writing. However, SUSHI has decreased by nearly 7.7% in the last 24 hours. 

Moreover, SushiSwap (SUSHI) has a circulating supply of 192,789,255 SUSHI. Currently, SushiSwap (SUSHI) trades in cryptocurrency exchanges such as Binance, Coinbase Exchange, Bitrue,  OKX, FMFW.io.

What is SushiSwap (SUSHI) ?

SushiSwap (SUSHI) is the native token in the SushiSwap decentralized exchange on the Ethereum blockchain DEX that was first launched as a clone of Uniswap by unknown open-source developers Chef Nomi and 0xMaki on 2020.SUSHI is a frequently utilized token that works on various blockchain networks. It serves as the major medium on this decentralized exchange (DEX). Users receive native SUSHI tokens as LP rewards.  

Users can swap between various virtual currencies on SushiSwap utilizing a connected cryptocurrency wallet.  SushiSwap allows users to deposit assets into liquidity pools. SUSHI grants voting powers to the DEX users and also serves as a form of  LP rewards on the platform.

SushiSwap (SUSHI) Price Prediction 2022

SushiSwap (SUSHI) holds the 155th position on CoinGecko right now. SUSHI price prediction 2022 is explained below with a daily time frame.

The above chart of SushiSwap (SUSHI) laid out the descending triangle pattern. This pattern is often regarded as a characteristic of a bearish trend. It is formed by the upper trend line that connects the highs and a horizontal trend line connecting lows converges to form a triangle. If the price action breaches the lower support level, the bearish trend would be sustained. 

Generally, descending triangle pattern indicates the reversal of an uptrend or the continuation of the downtrend. Traders keenly look out for a significant breakout point.

Currently, SushiSwap (SUSHI) is in the range of $1.070. If the pattern continues, the price of SUSHI  might reach the resistance levels of  $1.379 and $1.620. If the trend reverses, then the price of SUSHI may fall to $1.001.

SushiSwap (SUSHI) Support and Resistance Levels

The chart below shows the support and resistance levels of SushiSwap (SUSHI) .

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for SushiSwap (SUSHI)

Resistance Level 1	$1.675
Resistance Level 2	$2.759
Resistance Level 3	$4.542
Resistance Level 4	$7.708
Support Level	$0.898

The charts show that SushiSwap (SUSHI) has performed a bullish trend over the past month. If this trend continues, SUSHI might run along with the bulls overtaking its resistance level at  $7.708

.

Accordingly, if the investors turn against crypto, the price of SushiSwap (SUSHI) might plummet to almost $0.898 , a bearish signal.

SushiSwap (SUSHI) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of SushiSwap (SUSHI) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of SUSHI lies below the cutoff line, indicating weak participants in the current trend.

Also, the Moving Average (MA) of SushiSwap (SUSHI) is shown in the chart above. Notably,  SushiSwap (SUSHI) price lies below 50 MA (short-term), so it is in a downtrend. Currently, SUSHI has entered a bearish state. Therefore, there is a possibility of a reversal trend of SUSHI at any time.

Meanwhile, the relative strength index (RSI) of the SUSHI is 43.16. This means that SushiSwap (SUSHI) is in an oversold state. However, this means a major price reversal of SUSHI may occur in the upcoming days. So, traders need to trade carefully. 

SushiSwap (SUSHI) Price Prediction 2022 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of SushiSwap (SUSHI) . It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

The above chart represents the ADX of SushiSwap (SUSHI). Currently, the ADX of SUSHI lies in the range of 28.980 and thus, it indicates a strong trend. 

The above chart also represents the Relative Volatility Index (RVI) of SushiSwap (SUSHI). RVI measures the constant deviation of price changes over a period of time. The RVI of SUSHI lies below  50, indicating low volatility. In fact, the RSI of SushiSwap (SUSHI) is at 43.16 thus confirming a potential buy signal.

Comparison of SUSHI with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and  SushiSwap (SUSHI).

From the above chart, we can interpret that the price action of SUSHI is similar to ETH. This indicates that when  the price of ETH  increases, the price of SUSHI increases.When the price of ETH decreases,the price of SUSHI decreases.

SushiSwap (SUSHI) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  SushiSwap (SUSHI) might probably attain $4 by 2023.

SushiSwap (SUSHI) Price Prediction 2024

With several upgrades in the network, SushiSwap (SUSHI) might enter a bullish trajectory. If the coin grabs the attention of major investors, SUSHI might rally to hit $6 by 2024. 

SushiSwap (SUSHI) Price Prediction 2025

If SushiSwap (SUSHI)sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 7 years, SUSHI would rally to hit $8.

SushiSwap (SUSHI) Price Prediction 2026

If SushiSwap (SUSHI) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, SUSHI would rally to hit $10.

SushiSwap (SUSHI) Price Prediction 2027

If SushiSwap (SUSHI) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, SUSHI would rally to hit $12. 

SushiSwap (SUSHI) Price Prediction 2028

SushiSwap (SUSHI) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, SUSHI would hit $14 in 2028.

SushiSwap (SUSHI) Price Prediction 2029

If investors flock in and continue to place their bets on SushiSwap (SUSHI) (SUSHI), it would witness major spikes. SUSHI might hit $16 by 2029.

SushiSwap (SUSHI)  Price Prediction 2030

With greater advancements in the Basic Attention TokenEcosystem, the crypto community might continue to invest in SUSHI for the next 8 years and drive significant price rallies for the token. Hence, SushiSwap (SUSHI) might hit $18 by 2030.

Conclusion

With continuous improvements in the SushiSwap network, we can say that 2022 is a good year for SUSHI. For this reason, the bullish price prediction of SushiSwap (SUSHI) in 2022 is $7.708. On the other hand, the bearish price prediction of SushiSwap (SUSHI) price prediction for 2022 is $0.898.

Furthermore, with the advancements and upgrades to the SushiSwap ecosystem, the performance of SUSHI would help to reach above its current all-time high (ATH) of $23.38 very soon. But, it might also reach $2 if the investors believe that SUSHI is a good investment in 2022.

FAQ

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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