SushiSwap (SUSHI) Could Be Gearing Up To Reach Target Of $2.3
- Big SUSHI orders have been coming in.
- SUSHI is reviving its engines in preparation for a $2.3 goal.
- Since the shorter 20 EMA line has recently crossed above the longer 50 EMA line, the daily chart for SUSHI is currently presenting a very bullish picture.
On Twitter on November 3rd, Mac, an educational platform for cryptocurrency and investing, expressed interest in SushiSwap (SUSHI). Mac speculates that SUSHI’s price will rise to $2.3 within the next month as a result of the post’s claims that a lot of people have been buying the cryptocurrency recently.
The Weekly Chart of SUSHI/USD The data came from TradingView.
Mac then confirmed his earlier tweet that SUSHI is trending upwards toward the $2.3 goal in a post to Twitter yesterday.
Weekly chart of SUSH/USDT Financial Markets View, or TradingView
ANALYSIS
CoinMarketCap reports that the price of SUSHI has dropped 6.25 percent in the last 24 hours, from a high of $1.99 to its current price of $1.81. SUSHI is up about 0.29% over the last week, despite the fact that the cryptocurrency is down about 5% today.
Presently, SUSHI’s 24-hour trading volume is $138,874,427, down by more than 40% from its all-time high.
With a total value of $229,801,067, SUSHI ranks as the 135th largest cryptocurrency by market cap. This ranks SUSHI 135, one spot behind Dogelon Musk (ELON), and one spot ahead of Ox (ZRX).
The Daily Chart of SHI/USD Reference: CoinMarketCap.com
The 20-day Exponential Moving Average (EMA) line for SUSHI has just crossed above the 50-day EMA line, a highly bullish technical indicator. The price of SUSHI has been trending upwards within a rising channel ever since the occurrence of the bullish cross.
Based on where the two EMA lines are, it looks like there is still some upward momentum in the SUSHI chart. That’s why SUSHI’s price is so far above its 20 and 50 EMA lines.
All information in this price analysis, including all views and opinions expressed, is published in good faith. Research and diligence on the part of the reader are required. The reader should take no responsibility for the results of any actions they take based on this article. Both Coin Edition and its associated companies disclaim any responsibility for any losses or injuries, whether they be foreseeable or not.
This article, ‘SushiSwap (SUSHI) May Be Headed Toward Target (NYSE:TGT) Of $2.3,’ originally appeared on Coin Edition.
Disclaimer: This isn’t financial advice; it’s just for education. Crypted Crypto can’t guarantee its accuracy. Every investment and trade carries some risk, so always do your own research. Invest only what you can afford to lose.
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