SushiSwap Cryptocurrency Forecast
SushiSwap cryptocurrency price fell more than -6.01% Wednesday closing at $0.95
(Updated on May 01, 2024)
The SushiSwap cryptocurrency price fell by -6.01% on the last day (Wednesday, 1st May 2024) from $1.01 to $0.95. During the last trading day the cryptocurrency fluctuated 9.71% from a day low at $0.90 to a day high of $0.99. The price has risen in 6 of the last 10 days but is still down by -6.6% for this period. Volume has increased on the last day by 41 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 44 million shares were bought and sold for approximately $41.80 million.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.90 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -7.44% during the next 3 months and, with a 90% probability hold a price between $0.83 and $1.77 at the end of this 3-month period.
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SUSHIUSD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The SushiSwap cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.02 and $1.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Sunday, March 10, 2024, and so far it has fallen -52.70%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for SushiSwap cryptocurrency
SushiSwap finds support from accumulated volume at $0.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0874 between high and low, or 9.71%. For the last week, the cryptocurrency has had daily average volatility of 7.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SUSHIUSD) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect SushiSwap to open at $0.95, and during the day (based on 14 day Average True Range), to move between $0.84 and $1.06, which gives a possible trading interval of +/-$0.108 (+/-11.38%) up or down from last closing price. If SushiSwap takes out the full calculated possible swing range there will be an estimated 22.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.95 (0.08%) than the support at $0.93 (1.72%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is SushiSwap cryptocurrency A Buy?
SushiSwap holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency.
Current score: -4.457 Sell Candidate Unchanged
Predicted Opening Price for SushiSwap of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $0.95 ( 0.393%) | $0.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUSHIUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.03 | 8.81 % | |
| R2 | 1.00 | 5.30 % | ||
| R1 | 0.98 | 3.12 % | ||
| Current price: | 0.95 | |||
| Support | S1 | 0.91 | -3.91 % | |
| S2 | 0.89 | -6.08 % | ||
| S3 | 0.86 | -9.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.99 | 4.25 % | |
| R2 | 0.96 | 0.632 % | ||
| R1 | 0.95 | 0.0843 % | ||
| Current price | 0.95 | |||
| Support | S1 | 0.93 | -1.72% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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