SushiSwap’s (SUSHI) 7-day bullish uptrend brings gains of over 35% – price analysis and prediction below

5 months ago 97

As 2021 comes to a close, SushiSwap (SUSHI) has been 1 of the apical performers successful the crypto marketplace for the past week oregon so. The DeFi token is presently connected a 7-day bullish tally that has seen it summation astir 35% successful worth implicit the aforesaid period. But tin this momentum continue? Before we get to the terms analysis, present are immoderate highlights:

  • At the clip of writing, SushiSwap (SUSHI) had crossed into treble figures, trading astatine $10 and up 10% successful 24 hours.

  • We expect the token to look large overhead absorption astatine astir $10.88 implicit the coming days.

  • Despite the bull run, the Relative Strength Index astatine the clip of penning suggests the token is overbought, creating important downside hazard if investors determine to currency successful profits.

Data Source: Tradingview.com

SushiSwap (SUSHI) – Price investigation and prediction

It’s been a bully week for SushiSwap (SUSHI), nary uncertainty astir that. The coin has crossed into treble digits for the archetypal clip successful a while. The adjacent large situation volition beryllium to flooded overhead absorption astatine $10.88. If so this happens, we could perchance spot SUSHI trial its adjacent absorption of around$11.59 and consolidate astir the terms if a breakout doesn’t happen. 

But 1 cardinal hazard origin is the RSI reading. While astir method indicators look bullish, the RSI indicates SushiSwap (SUSHI) is overbought. If investors determine to fastener successful profits, past SushiSwap (SUSHI) whitethorn travel nether important selling pressure, which could pb to a pullback towards $7.8 oregon thereabout.

Should you bargain SushiSwap (SUSHI)

the reply is yes. For semipermanent investors, SUSHI is simply a decent DeFi token to person connected your portfolio. But the short-term outlook suggests that we whitethorn spot immoderate volatility astir SushiSwap (SUSHI) successful the coming days. As such, for short-term bulls, this whitethorn not beryllium the astir perfect clip to get in.

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