SUSHI Descending Expanding Wedge Breakout Imminent
Hello SUSHI lovers!
SUSHI has been in a descending expanding wedge since mid January. Currently, price is once again pushing against the top side of the wedge.
If BTC goes sideways or continues its bullish ascent, the I suspect SUSHI will breakout and head to the next area of strong resistance around $8.75!
If the bulls push past $8.75, then the next area of strong resistance is around $10.00-$10.50.
Currently, 1H-4H stochastics are all up, suggesting short-term bullishness. This may be the momentum SUSHI needs to break through resistance!
Short-term Price Targets
In this chart, we can see some medium-term, Fibonacci targets.
We can see that the 3.618 comes in at $10.21, which has confluence with the horizontal support/resistance zone around $10.50.
The 4.236 Fibonacci comes in around $11.85 and the 4.618 Fibonacci comes in around $12.90.
I suspect SUSHI will reach and potentially surpass, all these Fibonacci targets and if/when price finds support above $9.25, price action will rip up!
Medium-term Fibonacci Targets
Long-term Fibonacci Targets
The longer-term Fibonacci targets come in at:
1.618: $9.26
2.618: $14.61
3.618: $19.96
4.236: $23.26
4.618: $25.31
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Guide to My Charts
-The dark magenta horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
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Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
SUSHI has been in a descending expanding wedge since mid January. Currently, price is once again pushing against the top side of the wedge.
If BTC goes sideways or continues its bullish ascent, the I suspect SUSHI will breakout and head to the next area of strong resistance around $8.75!
If the bulls push past $8.75, then the next area of strong resistance is around $10.00-$10.50.
Currently, 1H-4H stochastics are all up, suggesting short-term bullishness. This may be the momentum SUSHI needs to break through resistance!
Short-term Price Targets
In this chart, we can see some medium-term, Fibonacci targets.
We can see that the 3.618 comes in at $10.21, which has confluence with the horizontal support/resistance zone around $10.50.
The 4.236 Fibonacci comes in around $11.85 and the 4.618 Fibonacci comes in around $12.90.
I suspect SUSHI will reach and potentially surpass, all these Fibonacci targets and if/when price finds support above $9.25, price action will rip up!
Medium-term Fibonacci Targets
Long-term Fibonacci Targets
The longer-term Fibonacci targets come in at:
1.618: $9.26
2.618: $14.61
3.618: $19.96
4.236: $23.26
4.618: $25.31
---
Guide to My Charts
-The dark magenta horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
---
Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
Comment:
Follow us now to stay up with TA for the hottest cryptos!
Comment:
Let's go bullz!
Comment:
The bulls have taken the reins!
Comment:
SUSHI/BTC looking like it wants to head up to the 0.618!
Come on SUSHI bullz!!!
Let's get this crypto!
Come on SUSHI bullz!!!
Let's get this crypto!
