Technical Analysis: SUSHI/USDT by Cryptorphic

7월 25일Hello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

SUSHI has been trading within a descending channel since its all-time high. It has been more than three years, and the price has not shown any significant bullish move.

SUSHI is currently in a long-term downtrend; however, it's approaching a historical support zone around $0.4730, indicating a potential reversal.

Although #SUSHI is under a descending triangle pattern, which is a bearish pattern, it should still respect the all-time low support and must rebound.

A breakout above the resistance trendline could lead to a significant bullish move. Will a 48x to 50x gain be possible? Not so soon, but it is possible.

Key Levels:

- All-Time Low Support: $0.4730.
- Resistance: $1.01.
- Invalidation Point: A close below the all-time low support.

DYOR, NFA.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#PEACE