Since the end of April SUSHI has been trending up after it crossed back above the Bull-Market Support Band. SUSHI has consistently made higher highs and higher lows. However, it is currently bumping up against a zone that it has been rejected at many times before. Even in the time when SHSHI crossed over it failed to make the old resistance into support. If it breaks above again will this time be different?
Last time SUSHI fell below the area of resistance was the exact time that BTC went from 60k down to 50k. Everything else was pretty much the same; SUSHI was in an uptrend, the RSI was making higher lows, etc.
So, it seems that SUSHI is not one of those rare coins that moves independently from BTC. Therefore, as long as BTC holds, or moves up, the conditions to put SUSHI back to at least $20, and probably $23 exist.
I don't think $17 is the best entry as it looks over extended in the very short term. If it falls between $15-16 I am getting in on the move back up.
Thank you for reading and please like, comment, and follow!
Trade at your own risk.
Last time SUSHI fell below the area of resistance was the exact time that BTC went from 60k down to 50k. Everything else was pretty much the same; SUSHI was in an uptrend, the RSI was making higher lows, etc.
So, it seems that SUSHI is not one of those rare coins that moves independently from BTC. Therefore, as long as BTC holds, or moves up, the conditions to put SUSHI back to at least $20, and probably $23 exist.
I don't think $17 is the best entry as it looks over extended in the very short term. If it falls between $15-16 I am getting in on the move back up.
Thank you for reading and please like, comment, and follow!
Trade at your own risk.
