Ethereum

SushiSwap

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sushiswap-faces-decline-and-tests-critical-support-levels/" data-wpel-link="internal">SushiSwap Faces Decline and Tests Critical Support Levels</a><br></p>
<p style="text-align: justify"><strong>SushiSwap (SUSHI)</strong> struggles with a downward trend in its price. Critical levels in the cryptocurrency may determine the direction of the price. So, what are these critical support and resistance levels in the cryptocurrency? Here is the latest situation in SUSHI!</p> 
<h2 id="critical-support-in-sushi">Critical Support in SUSHI</h2> 
<p style="text-align: justify">According to experts, the SUSHI price may continue its downward trend in daily charts. While moving within the Ichimoku Cloud, it has tested both the 200 EMA and the 100 EMA multiple times. In recent periods, during Bitcoin’s correction to $66,800, SUSHI fell below the base line of the Ichimoku Cloud, which is a significant support and resistance level.</p> 
<p style="text-align: justify">According to <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> obtained from cryptocurrency analytics companies, if SUSHI breaks below its critical support levels, the downward momentum may continue. In the popular <strong>altcoin</strong>, moving averages are as important as support and resistance levels.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-362221 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/SUSHI.jpg" alt="" width="851" height="433"></p> 
<h2 id="sushi-price-analysis">SUSHI Price Analysis</h2> 
<p style="text-align: justify">After surpassing the lower boundary of the Ichimoku Cloud, <strong>SUSHI</strong> faced strong resistance in subsequent breakout attempts at this level. With Bitcoin’s recent downward momentum falling to $66,000, SUSHI made a similar move and dropped by 12% to a one-week low of $0.935. For SUSHI to rise again, it may need to climb back above the base line of the Ichimoku Cloud.</p> 
<p style="text-align: justify">An analysis of altcoin holders highlighted a <strong>data</strong> point. The past inflow/outflow addresses of SUSHI holders stand out. The indicated metric can provide information about the profitability of addresses holding SUSHI based on the token’s current <strong>price</strong>. On the <a href="https://en.coin-turk.com/ethereum-price-shows-volatile-days-ahead-will-the-recent-surge-sustain-in-the-near-future/" data-wpel-link="internal">Ethereum</a> blockchain, 100,670 addresses or 88.13% are holding SUSHI at a loss. Additionally, 8,750 addresses representing 7.66% are profitable, and 4,800 addresses or 4.2% are at break-even. From June 1 to June 12, there were notable changes in the profitability of addresses holding SUSHI on <strong>Ethereum</strong>. As a result, SushiSwap (SUSHI) price is declining and testing critical support levels. Most <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> are at a loss, and for the price to rise again, it needs to climb above the base line of the Ichimoku Cloud.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/sushiswap-faces-decline-and-tests-critical-support-levels/" data-wpel-link="internal">SushiSwap Faces Decline and Tests Critical Support Levels</a></h5>

SushiSwap Faces Decline and Tests Critical Support Levels

Table of Contents

COINTURK NEWS

Other articles published on Jun 13, 2024

Cardano's Charles Hoskinson Reacts to Elon Musk's Latest Achievement

Pepe Surges 17.85% with Strong Bullish Indicators Pointing to a Potential 50% Rally by June’s End

Bitcoin reaches transaction highs as active addresses drop

Azalea’s MOTHER Token Could Slump Despite Magic Eden Integration

Maximize Earnings with CryptoHeap: Achieve Financial Freedom through Crypto Staking

Pyth Network Introduces GMCI 30 Index Price Feed

Join our free newsletter for daily crypto updates!