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SushiSwap Soars Over 13% In the Last 24 Hours


Key Insight:

  • SushiSwap’s price stabilizes around $1.28 while the market waits for a clear trend.
  • If SushiSwap concludes the day and week in bullish territory, an upswing is likely to develop.
  • Today’s SushiSwap price analysis shows that the market is optimistic.

SushiSwap price analysis on the daily price chart indicates the digital asset has been on a clear uptrend in the last 24 hours amid broader market optimism. The bulls have been continuously in the lead since 5 October 2022 and have captured the market, hence a rise from its value of $1.1244 and 24-hour trading volume of $63.04M to its current high.

At the time of writing, SushiSwap was trading up by 14.23% against the US dollar and was priced at $1.29. A price surge was attributed to the increased trading volume and market capitalization, which has increased by 14.23% and currently stands at a market capitalization of $164,517,855 and a 24-hour trading volume of $145,351,278.


SushiSwap/USD Price Chart(Source:CoinMarketCap)


The hourly, daily, and 4-hour charts’ technical indicators are all heading north, this implies that the bulls are in control of the market.


Green candlesticks have developed, according to SushiSwap price analysis of the daily chart, which shows the coin is clearly in an uptrend. The MACD indicator, which is currently in the positive region and has the signal line below the MACD line, also lends weight to this theory.


The moving average lines are showing a bullish sign that the bulls are in control of the market since the market is currently above the 20-day moving average ($1.134) and the 50-day moving average ($1.173)


The market is volatile and a breakout is most likely because the Bollinger Bands have widened. The upper and lower bands are set at $1.244 and $0.949, respectively. For the market, these levels serve as both support and resistance.


SushiSwap/USD Price chart (Source:CoinMarketCap)


The RSI (Relative Strength Index) is at 62.13 right now, which indicates that the market is healthy because it is not in overbought or oversold zone.


Overall, SushiSwap seems promising and is expected to continue with this uptrend as long as the market sentiments remain positive.


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