• SushiSwap price prediction is seen breaking above the $0.95 resistance level as SUSHI trades bullishly above the 9-day moving average.
• SushiSwap price can only maintain the uptrend if the newly touched $0.98 resistance level is maintained at all costs.
• Technical indicator Relative Strength index (14) is likely to cross above the 40-level to create more bullish signals in the market, this could encourage more buyers to enter the market.
SushiSwap is a decentralized exchange platform that allows users to trade tokens based on the Ethereum blockchain. The platform has been gaining traction lately due to its ability to provide a secure, fast and reliable trading environment. As a result, the SushiSwap price has been on the rise and is currently trading above the resistance level of $0.95.
The SushiSwap price prediction is seen as positive given the rising demand and the bullish trend that the coin is experiencing. The coin is currently trading at $0.97 with a bullish movement toward the 9-day and 21-day moving averages. Moreover, the Relative Strength Index (RSI) is likely to cross above the 40-level, creating more bullish signals in the market. This could encourage more buyers to enter the market and drive the price further up.
In addition, if the SushiSwap price can manage to break above the $0.98 resistance level and maintain it at all costs, it could be a sign of further gains in the coin. This could also lead to a higher volume of trades and more investors entering the market. Furthermore, a bullish trend may help the price to reach the resistance levels of $1.60, $1.65 and $1.70.
On the other hand, if the coin slides below the 9-day moving average, sellers may attempt to return to the market and push the price lower. Moreover, if the SushiSwap price falls below the support levels of $0.45, $0.40 and $0.35, it could be a sign of further losses in the coin.
Overall, the SushiSwap price prediction is bullish and the coin is expected to gain more in the coming days. The coin is currently trading above the resistance level of $0.95 and is likely to cross the $0.98 mark if the bullish trend continues. Furthermore, the Relative Strength Index (RSI) is likely to cross above the 40-level, signaling more bullish signals in the market. If the coin can manage to break above the resistance level of $0.98 and maintain it at all costs, it could be a sign of further gains in the coin and reach the resistance levels of $1.60, $1.65 and $1.70.
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