Celestia
LayerZero
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Pi Network
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Pudgy Penguins
- SushiSwap announced CCIP Integration with Chainlink.
- It is currently trading at $0.61 with a surge of 1.6% in the last 24 hours.
- The token is down from its all-time high by 97.37%.
SushiSwap has announced that it is integrating with Chainlink CCIP (Cross-Chain Interoperability Protocol).
SushiSwap is the leading multi-chain decentralized exchange (DEX) which is deployed on over 25 different chains. With our unique cross-chain swap feature, SushiSwap enables users to swap tokens seamlessly across various blockchains. The integration of Chainlink CCIP with its Arbitrary Messaging, Token Transfer, and Programmable Token Transfer capabilities, aligns perfectly with the platform’s mission.
- SOURCE: SUSHI.COM/BLOG
The SUSHI token is currently trading with a decrease in the trading volume by 10.5% in the last 24 hours. This coin marked its all-time high on 14th March 2021 when the token was priced at $23.38.
- The token has a market capitalization of $141.62M.
- It has a circulating supply of 231,179,095 SUSHI coins, which is 92.47% of its total supply.
- The 24-hour volume of the token is $10.95M.
SENTIMENT ANALYSIS (1 WEEK):
The total market volume of the token has increased by 20% in a week. The total social engagements declined by 7.89% and the total bullish sentiments decreased by 20.28%.
DAILY SENTIMENTS (1 DAY):
The price of the token has increased by 1.5% and the total market volume of the token has surged by 142.4%. The total social engagements declined by 47.11% and the total bullish sentiments declined by 42.39%.
Market sentiments are showing that the volume of the token is rising significantly. The total social engagements are falling as the community is showing inactivity. The total bullish sentiments are also declining, which shows that people are bearish on the token price.
Also, The volume of the token is pumping. So, the price can start rising any time when the bulls enter the market.
TECHNICAL ANALYSIS (DAILY- 1D):
The token has been falling since it marked its high of this year of $1.6 and it continued on the downward trajectory. SUSHI coin price took support from the $0.55 level from where the price started to move upwards in a rising wedge. A breakdown occurred at the bottom of the wedge and the coin price started falling. It also broke the support of $0.63, which is now acting as a resistance for the price.
Presently, the price is trading between the levels of $0.5 and $0.63. The price tried to break the resistance of $0.63 about 2 times but was rejected. Currently, the price is trading at $0.61.
It is moving down and can get to the level of $0.5 from where it is likely to get support. In an opposite scenario, the price can bounce from the rectangle area break the resistance of $0.63, and then start a bullish move.
Relative Strength Index (RSI)
The line of RSI is currently moving at 51.33 points and the SMA 14 line is moving at 49.59 points. It is presently slightly above the neutral level of 50. If from the present RSI level increases, we can see a surge in the token value. If the token price falls below the 50 level, a further downward movement can occur.
Moving Average Convergence/Divergence (MACD)
In MACD, The fast blue line moving average is above the red slow line moving average. The volume in the histogram has shown a fall in the volumes day by day for the last few days. If the volume stays decreasing, the price will become bearish. For the upward movement, the volume must increase.
SUSHI LIVE CHART :
CONCLUSION :
The analysis reveals that, If the SUSHI coin price bounces from the rectangle zone with a sizable volume and breaks the resistance, it will be bullish. Suppose the volume keeps on decreasing and the price gets below the rectangle area, the token value can fall to the support level of $0.5 and further.
TECHNICAL LEVELS:
SUPPORT: $0.55 AND $0.60
RESISTANCE: $0.63 AND $0.7
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
