- Sushiswap price analysis is bullish for today.
- SUSHI/USD saw further downside over the last 24 hours.
- SUSHI found support at the $10 mark today.
For today, Sushiswap’s price analysis is favorable since the market has retreated to $10 over the previous 24 hours before showing signs of rejection for an additional decline. Later today, we anticipate SUSHI/USD to reverse and recoup some of its losses.
Sushiswap price movement in the last 24 hours: Sushiswap drops to $10 support
Over the last 24 hours, BTC/USD has fluctuated in the range of $9.5 to $10.65, suggesting little volatility. Volume has grown by 45 percent and stands at $525 billion. Meanwhile, the overall market capitalization is around $1.36 billion, putting the coin in 76th place globally.
SUSHI/USD 4-hour chart: SUSHI ready to reverse from the $10 support?
On the hourly chart, we may observe a return to equilibrium after recent breakout activity, as the Sushiswap price rejects an additional downside below $10.
Last week’s price action in Sushiswap was quite volatile, with significant swings taking place. After surging to $10 on the seventh of September, SUSHI/USD remained stable and retested the $10 support twice more over the following days.
On September 13th, the market was put to the test for a second time, with prices rising above the $12 local resistance. A rally of 24 hours followed, culminating in a new high set at $16.
However, around this price level, bullish momentum came to a halt, and a sharp reversal ensued. The Sushiswap price retreated by more than 40% until the $10 support was reached earlier today, signifying that it has been rejected by bears. We anticipate a reversal later this week as long as bulls continue to reject greater losses.
Sushiswap Price Analysis: Conclusion
The Sushiswap price analysis is favorable for now because support was found above the $10 mark earlier today, following a very severe decline over the previous 24 hours. As a result, we anticipate that SUSHI/USD will reverse and recuperate some of its losses over the next 24 hours.
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