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Sushiswap price analysis: SUSHI surges to $15.45, is $18 next?

TL;DR Breakdown

  • Sushiswap price analysis for today is bullish.
  • Strong support is found at $11.
  • Strong resistance is found at $18.

The Sushiswap price analysis is again bullish for today. The SUSHI/USD pair touched the $15 mark today. SUshiswap is continuously on the rise and is successfully bypassing all the resistances.

Sushiswap is on bullish momentum from 11th September, on 12th of this month it crossed the first resistance of $11, then retraced a bit for the next day and the again is on the rise since then. Yesterday it crossed the stronger resistance of $13.5 and then another resistance of $14.24 in a swift move, followed by another resistance of $15 and is trading at $15.45 at the time of writing.

The overall market trend for today is in greens, with Bitcoin at $48420 with a 3 percent gain in value, Ethereum at $3636 with more than seven percent gains, while Ripple and Cardano with 3 and 4 percent gains, respectively over the last 24 hours.

The detained Sushiswap price analysis reveals SUSHI also fell on the 7th of September when most of the coins crashed, losing the entire value gains made during the month of August. Today is a good day for SUSHI as it’s on a three months high.

Sushiswap has gained 20 percent value in the last 24 hours, and around 35 percent increment in value has been observed over the course of the last seven days.

SUSHI/USD 1-day price chart: SUSHI all set to touch $18?

The 1-day price chart for Sushiswap price analysis shows a bulls rally is on the way towards new highs of the three months. As mentioned yesterday, SUSHI bulls victoriously crossed the resistance of $15 and are now eyeing the greater resistance of $18.

SUSHI/USD 1-day price chart. Source: Tradingview

The volatility is increasing, as can be noticed from the expansion of Bollinger bands. The top end of Bollinger bands is at the $15.41 mark below the price level marking a strong bullish momentum, whereas the lower band is at the $9.4 mark.

The average of Bollinger bands is $12.4. The moving average (MA) is $12. The relative strength index (RSI) is in the neutral zone at 63 but seems to be crossing the overbought limit soon.

Sushiswap price analysis: SUSHI enters the overbought zone

The 4-hours price chart for Sushiswap price analysis shows increased volatility as Bollinger bands have expanded extensively on the hourly chart. Price is also floating above or near the upper Bollinger band. The upper Bollinger band is at $15.5, and the lower band is at the $9 mark, making an average at $12,3 level.

SUSHI/USD 4-hours price chart. Source: Tradingview

The moving average is at the level of $13.8. The short-term trending line is upwards, whereas The relative strength index (RSI) has crossed the top limit of the neutral zone and is in the overbought limit at a 79.7 score.

Sushiswap price analysis: Conclusion

The 1-day and 4-hours Sushiswap price analysis are strongly bullish. The SUSHI’s next target is the resistance of $18, but the RSI score is quite high at the moment, so a small correction can be expected in the coming hours. But overall, a further bulls rally is to be expected.

Disclaimer. The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

This post was last modified on September 17, 2021 6:27 am

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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