SushiSwap (SUSHI/USD) Finally Claims the $1.400 Price level
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January has been a good month for SushiSwap’s bulls. The bullish price has been very progressive, claiming two major resistance levels along the way. But as the SushiSwap market got closer to the $1.400, the supply line gathered momentum around this price level, preventing the bullish price from going further.
SUSHI/USD Price Statistic
- SUSHI/USD price now: $1.429
- SUSHI/USD market cap: $325,724,312
- SUSHI/USD circulating supply: 222,252,372 SUSHIs
- SUSHI/USD total supply: 244,542,959 SUSHIs
- SUSHI/USD coin market cap rank: #117
Key Levels
- Resistance: $1.45, $1.50, $1.60
- Support: $1.25, $1.20, $1.15
Price Prediction for SushiSwap: A look at the Indicators
SushiSwap market stopped trending in the second half of January and has continued the rest of the month without a clear direction for the price. When we take a look at the Bollinger bands indicator, we can see that it tries to illustrate how the buyers increased pressure on the unyielding resistance level. The SushiSwap buyers are finally having their way, as the market for today is mostly bullish and they have claimed the $1.40 price level.
SUSHI/USD 4-Hour Chart Outlook
So far in today’s SushiSwap market, all the 4-hour sessions have been dominated by the buyers. However, there is a reason to be concerned here. The buyers may be pushing the market too hard, and the price may be venturing into the overbought zone. Also, the volume of trade indicator does not have many activities to back up the bullish candles that we see on the chart. This may be an indication of exhaustion on the part of the bulls, which can make the price fall below its current support level.
