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 cryptocurrency that utilizes a novel consensus algorithm called “Multi-Chain Proof of Stake” (MCPoS). This allows for faster and more energy-efficient transactions compared to traditional proof of work algorithms. Additionally, Sushi’s unique governance structure enables community members to propose and vote on proposals for the project’s development and growth.
Sushi Price Overview:
As of October 02, 2023, Sushi is trading at approximately 0.592 USDT. Let’s dive into the detailed price action for SUSHI-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.62 |
| High (H) | 0.625 |
| Low (L) | 0.58 |
| Close (C) | 0.592 |
| Volume (C) | 2,656,773.30 |
- Open (O): The opening price for today’s trading session was approximately 0.62 USDT.
- High (H): Sushi reached a daily high of around 0.625 USDT.
- Low (L): The daily low for SUSHI-USDT was approximately 0.58 USDT.
- Close (C): At the time of analysis, Sushi is trading near its daily close of 0.592 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -4.52% |
| 3D Change (%) | 0.34% |
| 7D Change (%) | 0.00% |
| 30D Change (%) | 4.23% |
| 90D Change (%) | -14.57% |
| YTD Change (%) | -36.00% |
Over the past three days, SUSHIUSDT has risen by approximately 0.34%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around 0.00%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SUSHIUSDT maintaining an upward trend of approximately 4.23%, despite intermittent fluctuations. Examining the last 90 days, SUSHIUSDT has witnessed substantial decline of approximately -14.57%, reflecting strong long-term confidence. Year-to-date, SUSHIUSDT has steadily declined by around -36.00%, 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 0.38955.
- Momentum score is 0.04225.
SUSHI USDT Technical Analysis
Sushi Trading Volume:
The trading volume for Sushi (SUSHI) over the past 24 hours has been significant, with approximately 2,656,773.30 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 neutral zone, around 46.40571. This suggests that Sushi is in range-bound 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 neutral RSI and significant trading volume are neutral signals for potential sideways movement.
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.
