SUSHI Technical Analysis – September 2021
In the last 30 days, SUSHI initially increased by more than 25%. After that, sellers took over and decreased its price by 38%, hitting $9.2. Nonetheless, SUSHI rebounded after that and increased again by more than 70% since sellers bought the dip and holders (HODLERS) kept holding their tokens.
In just the last 7 days, SUSHI has increased by 65%. This increase was marked with a price of $16.1. After that, the price has started pulling back, and it may now test key support levels in the coming days.
In the intraday chart, SUSHI has been volatile and has been declining. It may have support at $13.2, where the previous resistance used to be. That remains to be seen in the coming hours. SUSHI may have even more support at $10.
The 20-day moving average is now below the price due to the recent price increase. This suggests that the price might continue to increase in the coming weeks. The MA line can act as support.
The 9-day EMA is also below the price and suggests that the price of SUSHI can keep increasing in the coming days. The recent price dip might be just a pullback rather than a potential reversal.
Relative Strength Index
The RSI is fairly average. It declined a little due to the recent pullback and is around 55. This indicates that the momentum is bullish and that there is still more room for growth for SUSHI.
The MACD line is above the signal line and has now moved above the baseline. This indicates that the momentum is bullish and that the price of SUSHI may keep increasing, other things equal.
Fear & Greed
The fear and greed indicator suggests that the current emotion dominating for SUSHI traders is fear due to the recent pullback. Traders were greedy and pushed the price to $16.1, but then sellers took over and caused uncertainty.
The Fibonacci retracement levels suggest that the price of SUSHI has broken the 38.2% support, and it may test the 61.8% in the coming days. If support is found there, then SUSHI might soar upwards again.
Price Prediction SUSHI – September 2021
Based on this technical analysis, we might see SUSHI go up to $17.5 in the coming days if it finds support at the projected levels. If support is broken, then the trend might reverse and SUSHI could keep going downwards. Nonetheless, the long-term channel is still bullish.
Latest News for SUSHI – Affecting Price
Maki, the anonymous co-founder of SushiSwap Decentralized Exchange (DEX) is rumored to leave the project and no longer be part of SushiSwap. Even though anonymous, Maki is one of the most respected figures in the SushiSwap community, so it would not be surprising if such a decision could have adverse effects on the price of SUSHI in the short run.
Also read: SushiSwap (SUSHI) Price Prediction 2021 and Beyond – Is SUSHI a Good Investment?