SushiSwap Token Price Analysis: SUSHI Token Could Drop Another 40% If Sustains Below The $6 Mark.

Published by
SushiSwap Token Price Analysis: SUSHI Token Could Drop Another 40% If Sustains Below The $6 Mark.

November was not so fair with the SUSHI investors, as the token lost more than 30% in this month. December, following the same footstep of this previous month, displays even more seeling in its price where it has recently given a breakdown from the crucial support of $6, indicating even more bearishness in price.

SUSHI/USD Daily Time Frame Chart

Source- SUSHI/USD chart by Tradingview

Advertisement

Past Performance or Trend-

The SUSHI token price resonated in a symmetrical triangle pattern in the daily time frame chart. On November 15, the price gave a bearish breakdown from this support trendline and the 200 EMA line together. This pattern triggered an excellent short entry opportunity for the crypto traders as the price dropped more than 50% from the breakout point.

Advertisement

SUSHI Token Price Is Stuck In A Retest phase.

The SUSHI token has recently breached another crucial support of the $6 mark and is currently trying to retest the new overhead resistance to validate the presence of enough selling pressure. If the price managed to sustain below this level, the technical chart suggests the next strong support is at $3.3, i.e. 40% down.

However, on the contrary, as this breakdown was not so significant, the crypto traders should use strict risk management if they are looking for a short trade.

Technical Indicators-

-The daily Relative Strength Index(37) displays a bullish divergence in its chart, indicating the growing strength of market buyers.

-The SUSHI token price is moving below the crucial EMAs(20, 50, 100, and 200), supporting a bearish trend in this token.

-As per the traditional pivot levels of the 4-hr chart, the token traders can expect the nearest resistance for the SUSHI price at $5.7, followed by $6.7. As for the opposite end, the support levels are $3.4 and $2.2.

Advertisement

Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Altcoin News

BNB Leads Crypto Market Rally With Fresh All-Time High, Expert Sees $5000 Upside

BNB, the native cryptocurrency of Binance, has seen a strong 8% upside, hitting a new…

October 3, 2025
  • 24/7 Cryptocurrency News

Billionaire Ray Dalio Calls Bitcoin “Alternative Money” as BTC Profit-Taking Tops $3.7B Amid $120K Rally

Billionaire hedge fund manager Ray Dalio has touted Bitcoin as “alternative money” as it continues…

October 3, 2025
  • 24/7 Cryptocurrency News

Canary Litecoin ETF Delayed Due to Government Shutdown, What’s Next?

The U.S. Securities and Exchange Commission (SEC) has missed its final deadline on the Canary…

October 3, 2025
  • 24/7 Cryptocurrency News

VanEck Registers Lido Staked Ethereum Trust in Delaware, LDO Up 7%

VanEck has formally registered its VanEck Lido Staked Ethereum ETF in Delaware. If approved, this…

October 3, 2025
  • 24/7 Cryptocurrency News

Fed’s Lorie Logan Urges Caution on Further Rate Cuts Citing Inflation Risks

Federal Reserve Bank of Dallas President Lorie Logan is the latest Fed official to share…

October 3, 2025
  • 24/7 Cryptocurrency News

Nasdaq-Listed Fitell Adds Pump.fun’s PUMP To Supplement Solana Treasury

Australia’s Fitell Corporation has purchased 216.8 million PUMP tokens for $1.5 million. The Nasdaq-listed company…

October 3, 2025