Two months of buyers’ attempts to level off the SUSHI cryptocurrency market, unfortunately, did not yield a positive result. Since September 22, the price of SUSHI has stopped the process of aggressive decline. However, if we compare how SUSHI cryptocurrency is able to grow on history, the previous two months were quite weak in terms of growth. After a strong downward momentum of 40%, buyers were able to establish a corrective channel. Low trading volumes at first gave hope for a consolidation zone, in which buyers accumulate volumes for a new wave of growth. However, after several attempts of buyers to break consolidation and start growth of cryptocurrency SUSHI sellers showed who dominates the market.
SUSHI cryptocurrency forecast started to rebound
We published our forecast for SUSHI cryptocurrency with the first stop in the $7 range back on October 29. In fact, our forecast started to work out during the bitcoin’s fall on November 15.
In the best case, buyers will stop the fall in the price of cryptocurrency SUSHI at $7.30-7.50 and from there a possible global growth to the area of $65-67.
In the worst case, the fall will be with a renewal of the minimum in the area of $5. Of course, in that case the consolidation below will be delayed for a longer period of time, but also the global target will grow to the area of $100-120. If you are a long-term investor, it is best to place a large grid of orders in the $5-7 range. As we can see on the chart, the growth prospects are quite high for the first and second scenarios. The probability that SUSHI cryptocurrency price will go lower is low.
SUSHIBTC price has almost reached the lower boundary of the channel
Another fact of the completion of the fall on SUSHI cryptocurrency is the SUSHIBTC price chart. On the weekly timeframe, we can see that the price is approaching the lower boundary of the fall. The increase in trading volume is not visible yet, but it will be the signal of the end of SUSHIBTC falling wave. In fact, since February 2021 on the market SUSHIBTC correction of the global growth impulse began. For the formation of a new growth wave, the buyers should keep the level of 0.00013. Need more cryptocurrency trading signals? Join our trade marathon!