In this Sushi technical analysis, we will examine the current price action, trading volume, key levels and indicators for SUSHI-USDT. Sushi (SUSHI) is a decentralized finance (DeFi) platform that enables users to earn rewards in the form of cryptocurrency by providing liquidity to various DeFi protocols. The platform utilizes a novel mechanism called “yield farming” to distribute rewards to users, which has contributed to its rapid growth and popularity. With its innovative approach to DeFi and user-friendly interface, Sushi (SUSHI) is poised to continue making waves in the cryptocurrency market.
Sushi Price Overview:
As of May 13, 2024, Sushi is trading at approximately 1.057 USDT. Let’s dive into the detailed price action for SUSHI-USDT:
| Metric | Value |
|---|---|
| Open (O) | 1.072 |
| High (H) | 1.095 |
| Low (L) | 1.023 |
| Close (C) | 1.057 |
| Volume (C) | 3,972,855.20 |
- Open (O): The opening price for today’s trading session was approximately 1.072 USDT.
- High (H): Sushi reached a daily high of around 1.095 USDT.
- Low (L): The daily low for SUSHI-USDT was approximately 1.023 USDT.
- Close (C): At the time of analysis, Sushi is trading near its daily close of 1.057 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.40% |
| 3D Change (%) | -0.28% |
| 7D Change (%) | 2.62% |
| 30D Change (%) | 14.27% |
| 90D Change (%) | -10.80% |
| YTD Change (%) | -15.58% |
Over the past three days, SUSHIUSDT has dropped by approximately -0.28%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 2.62%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SUSHIUSDT maintaining an upward trend of approximately 14.27%, despite intermittent fluctuations. Examining the last 90 days, SUSHIUSDT has witnessed substantial decrease of approximately -10.80%, reflecting strong long-term confidence. Year-to-date, SUSHIUSDT has steadily decreased by around -15.58%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Sushi Live Chart:
You can access a live price chart for SUSHI-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.62617.
- Momentum score is 0.00667.
SUSHI USDT Technical Analysis
Sushi Trading Volume:
The trading volume for Sushi (SUSHI) over the past 24 hours has been insignificant, with approximately 3,972,855.20 USDT traded against SUSHI. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): SUSHI is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Sushi is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for SUSHI-USDT is currently in the low zone, around 44.11769. This suggests that Sushi is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Sushi (SUSHI-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Navigate Sushi’s (SUSHIUSDT) potential downturns at 1.06 USDT with bearish technical analysis, emphasizing weakened support and cautionary indicators.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.