The third trading week on the SUSHI market is mysterious. Each following trading week becomes less volatile. Each subsequent weekly candle closes in lower volumes. The SUSHI market is preparing a powerful impulse for market participants. However, in which direction to expect a vector SUSHI price movement in the near future? Let’s try to find out in today’s analysis. The weekly chart clearly shows that buyers are trying very well to keep control of the market near $10.44.
This mark has already withstood 5 false breakdowns on the weekly chart. Therefore, control over this mark will determine in which direction the SUSHI price will move in the medium term. At the moment, the trading week on the SUSHI market may close in favor of buyers. If sellers are not able to change the situation from the new week over the weekend, we will expect a new impulse to increase the SUSHI price with the first target of $8.5.
However, in the case of such a scenario, the final target is lower at $6.5. This mark is a global trend line that buyers have been keeping confidently since November 2020. In addition, it is from the $6.5 range that a new growth wave began in July 2021. In this range, buyers will be able to absorb all sellers’ offers during the May 2021 downpour. Therefore, even in the case of a negative scenario and another local fall wave in the range of $6.5, it would be great to buy SUSHI in the long run with the first target of $22.4.
Technical Analysis of SUSHI on the Daily Timeframe
Until 26 September, the SUSHI market looked weak. Sellers at average volumes could easily lower the price and were already fixed below the global mark of $10.44. However, on 26 September in the daily timeframe, we see strong price growth and closing of the daily candle by 20% above the opening price. In fact, since then, buyers are trying to fix in the range of $10.44-$11. In case of successful consolidation, we will expect local price growth to $12 and another retest in the range of $10.44-$11. It is after such a successful retest that it will be possible to buy SUSHI cryptocurrency with minimal risks and maximum prospects for your investment.
The SUSHIBTC Price Frightened Its Investors
The situation on the SUSHIBTC chart does not look so positive yet. The price is at a critical point, from which both a strong fall wave and a strong growth wave can begin. So far, sellers have managed to take control of the mark 0.000206. This mark has been under the control of buyers since January 2021. If the weekly candle closes above this mark, all SUSHI investors will be in for a big surprise by the end of the year.
Though, the continued fall of the SUSHIBTC price will provoke a real collapse of the market by 30-40%. Therefore, hunting for the ideal purchase price of SUSHI, you should now be ready to close your investment at a loss so as not to overdo the long and large drawdown of the deposit.
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