Hello, the overall crypto market is bearish. Many coins are down. BTC is 47k now. However, sushi reached 9.8 dollars today(normally, it has a good correlation with BTC performance). On 1 hour chart, it has reached a double top at around 9.8. Now, it is has some downward pressure now. Stoch RSI reached the overbought region and actually back below 80 (negative divergence). If overall crypto mkt stays bearish, there is a great chance, sushi will go down to first target price around 7.8, which is the top of the previous channel. If selling pressure strong enough and goes below 7.8, the next target would be 6 ( this is the bottom of the previous channel and also we see a support around 6 as well. Not financial advice.
Comment
⋅
hello, guys, update, on the 1 hourly chart, the double top did not break down successfully. However, it looks like the it has either formed an ascending wedge or triple top. The game still remains bearish. Not financial advice