šŸ£SUSHISWAP Award. Is it time to “taste” sushi again? šŸ„¢ FOR WHITEBIT: SUSHIUSDT By P_S_trade – Technische Analyze – 2022-11-03 16:14:11

Today we will look at the SUSHIUSDT trading pair on daily time frame He told us why this scheme caught our attention.

During the DeFi boom of 2020-21, the SUSHISWAP protocol was very popular and was always in the top ten for TVL . Maximum amount locked for pledged assets i sushi The volume of the protocol reached $7 billion, which is 4% of the total TVL from the DeFi sector.

As of today, about $550 million is closed in SUSHISWAP, which is about 1% of the total. TVL from the DeFi sector.
In principle, this is not a bad result and a share of the ā€œinfluenceā€ in the DeFi sector. If we take into account the fact that the price sushi The coin has fallen by -90-95% in the past year and has fallen by 13-15 times.

So why has this project caught our attention now, you might ask? We will answer:

1. Increased trading volumes that began to return to Dollar sushi A trading pair, so this is a growing interest for both buyers and sellers of the currency. There is interest in the currency, so the project is “alive” even after such a strong and long fall.

2. The buyers were able to breach the $1.50-1.60 liquidity area and consolidate above it on the daily time frame. In the past six months, this liquidity area has been strong resistance and has not allowed the rate to rise.

3. Even the most modest assumption about the potential for SUSHIUSDT price to grow to the $3-3.30 range from current prices is x2. Also, there may still be growth inside the downtrend, which means that the price will be below the red trend line .

Summary:
In our opinion, as long as the buyers sushi It managed to keep the price above the liquidity area at $1.50-1.60, and there is a good chance that the price will rise first to $2.30, and in the best case to $3-3.30.

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