Sushi (CRYPTOCAP:SUSHI) price indicating readiness to move higher after it recently overcame a key hurdle. If the market outlook remains unchanged, and most of the Altcoins resume their Bullish streak? then CRYPTOCAP:SUSHI could trigger a massive upswing.
Sushi price consolidation above $1.012 lasted which for 2 months, leading to a 109% rally in the next five weeks. This move bridged another critical hurdle at $1.628 and currently maneuvers above it. But with Bitcoin's (CRYPTOCAP:BTC) price finding a new support level? investors need to exercise caution.
If CRYPTOCAP:BTC continues to move sideways or trends higher, then the Sushi (CRYPTOCAP:SUSHI) price could start a bullish trend. However, Sushi's (CRYPTOCAP:SUSHI) Relative Strength Index (RSI) which is 48.96 poses as a moderate indicator to accentuate the bullish thesis on Sushi (CRYPTOCAP:SUSHI).
A potential correction to the support level at $1.267 could be likely. So, a bounce around $1.267 or $1.628 will be good accumulation zones for patient CRYPTOCAP:SUSHI buyers. Assuming the Sushi price bounces from its current position a retest of the $2.785 resistance level would constitute a 70% gain.
On the other hand, if Sushi (CRYPTOCAP:SUSHI) price breaks the $1.267 support level, it would signal weakness. If the selling pressure continues to build, SUSHI could slide lower and tag the $1.012 barrier.