- The SushiSwap price is trading above the significant moving average, which showcases the bullish momentum.
- The SushiSwap price has declined by 30% in the past week.
The SushiSwap (SUSHI) price has declined by 25% in a few days and took support from the 200-day EMA. The SUSHI price has been in a bullish trend since October and rose by 150%, but witnessed a profit booking momentum for the last few weeks.
The SushiSwap price is currently at $1.05, which reflects a gain of 3.35% in the intraday session. The market capitalization is $243.58 million with a fall of 1.26% in the last 24 hours. In terms of market capitalization, the SUSHI crypto ranks 175th in the cryptocurrency market.
The SUSHI trading volume is $42.90 million which has increased by 35% in the past 24 hours. In terms of trading volume, SUSHI ranks 138th in the cryptocurrency market.
The total amount of SushiSwap coins that are circulating in the market or are in public hands, is 232,006,431 SUSHI. The total supply and the maximum supply is 250,204,042 SUSHI.
Will SUSHI Price Manage to Defend 200-Day Moving Average?
The SushiSwap price is in a bullish trend and formed a double top pattern. It has declined to the moving average and took support with price rejection. The SUSHI crypto price is currently staying in the demand zone and the volume has continuously decreased.
If the SUSHI price slips below the 200-day moving average and sustains there, then selling pressure can be expected and previous profits may be eroded within a few days.
On the other hand, if the SushiSwap crypto price rises and surpasses the $1.20 hurdle, then buyers may lift the price higher.
SushiSwap Price Technical Analysis Over 4-Hour Timeframe
On a 4-Hour time frame, the SUSHI price is witnessing selling pressure, as displayed on the chart. The RSI is at 43, which is recovering from the oversold zone.
If the SushiSwap price sustains over the $1.50 mark, then buyers may become confident which may lead to a 52-week high and a trend reversal can be seen.
SushiSwap Price Forecast Based on Technical Analysis
According to the data on January 08, 2024, the SUSHI coin price prediction sentiment is bearish with 17 technical indicators giving bearish signals while 12 are giving bullish signals.
SushiSwap Price Prediction FAQs
What is the SUSHI price prediction today?
The SUSHI crypto price is predicted to gain 2.94% to reach $1.050 by today.
What is the SushiSwap price prediction tomorrow?
According to our analysis, the SUSHI price will gain 3.11% to reach $1.090 by tomorrow.
What is the SushiSwap crypto price prediction for 2024?
The Sushi price is forecasted to range between $0.91 and $1.43 in 2024. The Sushi price will gain 1.30% to reach $2.43 if it goes for the upper target.
Will the SUSHI price reach $100?
The SUSHI price needs to gain 9,404.20% to reach $100. According to our analysis, the SUSHI price will hit $100 by June 2028.
Will the SUSHI price reach $1,000?
The SUSHI price would gain 94,042.00% to reach $1,000. Based on our analysis, the SUSHI price will reach $1,000 by April 2042.
Conclusion
The SushiSwap price is witnessing profit booking after a small bullish momentum. According to the technical analysis, the SUSHI price may bounce back and a trend reversal can be expected. The hurdle of $1.50 is working as a supply zone.
Technical Levels
Resistance: $1.40 & $1.60
Support: $0.94 & $0.63
Disclaimer
Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is especially volatile and speculative, and this article does not advise investing in cryptocurrencies or other ICOs. Since everyone is unique, a certified professional should be continually consulted before making any economic decisions.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.