Market & Ticker: SUSHISWAP - SUSHI/USDT
Date: 01/11/2023
Horizon / Timing: Mid-term / 1 to 3 months
SUSHI recently confirmed a direct bullish dynamic after having accelerated above the moving averages which area crossing to the upside (bullish signal confirmed). At the current level a larger recovery is expected towards 1,32 and 1,70 while the first key robust support to watch stands at 1,62. In this configuration the expectation is to realize a large upside trend as November 2021 but we can be confident at least for a retracement of the recent bear market with 3,30 as first long-term target to keep in mind.
Technical Key Elements:
- Sushi is bouncing off former historical low.
- The RSI indicator is in positive area and keeps upside potential – No divergence
- The Moving average crossed to the upside and are support
- The Fibonacci key support is adjusted at 0,62 as tactical support while the Elliot wave shows upside potential towards 1,32 & 1,70
Trade Idea conclusion: Buy - Conviction:
 | | Normal |
Target 2: 1,70
Target 1: 1,32
Buy: add in dip area 0,85
Stop: 0,62 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
