The daily chart highlights two clear trend lines. The longer-term downtrend is currently visible at $13.50 and is the first line of resistance. Successful clearance of this trend would constitute a bullish breakout and potentially target the may high of $22.52, around 75% above the last price.
The second trend line sits below the market at $9.93.As long as the SushiSwap price remains above this confluent band of support, the prospects are positive.
On that basis, I maintain a bullish outlook for SUSHI unless the price drops below $9.92. In this event, a return to the July lows around $6.50 becomes a possibility.
The second trend line sits below the market at $9.93.As long as the SushiSwap price remains above this confluent band of support, the prospects are positive.
On that basis, I maintain a bullish outlook for SUSHI unless the price drops below $9.92. In this event, a return to the July lows around $6.50 becomes a possibility.
