Sushi Swap (1) is 40% less expensive than last month. The sharpest low rise this year was manufactured by the bears. A breakthrough over $1.54 would prove the bearish premise to be false. The price of Sushi Swap could be beginning a far steeper slide. Countertrend trading digital assets might be difficult at the moment. To determine Sushi’s likely next move, key thresholds have been established.
South Sushi Swap pricing points
Going into the third training week of November, the Sushi Swap price had an impulsive wave headed downward. The AMM coin, based on Ethereum, has decreased by 40% since November 4. Following the decrease, SUSHI bids in an area of growing congestion not far from the recently discovered monthly low of $0.99.
The current Sushi Swap auction price is $1.23. In contrast to past selloffs during the summer, the bears have generated a fast decline with an angled slope. A significant increase in selling pressure on the Volume Profile indicator on higher time frames coincides with the trend. During the $0.99 low, the Relative Strength Index (RSI) (2) broke through highly oversold levels.
What investors are expecting
Given these variables, the price of SUSHI may be amid a substantially steeper decrease. The optimal objective for bears to strive for is a 40% death decline with 2020 liquidity levels approaching $0.70.
If the bulls move the liquidity above the recently broken 21-day simple moving average at $1.54, the bearish view might be invalidated. A barrier of this magnitude may spark another buying frenzy aimed towards the monthly high of $2.05. If the bears were to win, the price of Sushi Swap would increase by 70%.
