As September was coming to an end, the Sushiswap market ended with prices continuously ranging at $1.000. And October started with a bullish market as the support level was formed on the 2nd and 3rd. From early October till now we can see that sellers kept resisting the bullish market, but as the bulls are having the upper hand, they drag the bears up along with them despite their resistance.
SushiSwap Market Price Statistic:
- SUSHI/USD price now: $1.74
- SUSHI/USD market cap: $226,384,207.10
- SUSHI/USD circulating supply: 127,244,443
- SUSHI/USD total supply: 250,000,000
- SUSHI/USD coin market ranking: #129
- Resistance: $2.000, $2.500, $3.000
- Support: $1.500, $1.000, $0.500
SushiSwap Market Price Analysis: The Indicators Point of View
After the bulls broke the market indecision on the 3rd of October, bears formed their new strong resistance at the $1.5000 price level. And the bullish market repeatedly failed to break the resistance level. Bulls continued to fail at the new resistance level till the 25th of October when the buyers finally broke the price level. From the Bollinger band, we see that the price action has been performing above the moving average of the indicator. This means that traders are more willing to buy than sell – bulls are stronger than bears because the price pullbacks caused by the seller could not bring the price below Bollinger’s moving average.
SUSHI/USD 4-Hour Chart Outlook
The market opened today with a very bullish price as the buyers are targeting the $1.8000 price level. They couldn’t do that in the first session. In the second session, they broke the price level, but the price was rejected in that same session and the price fell below the resistance level. In the third session, however, the price was established above the $1.8000 price level. The bulls’ market will continue from here.
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