- Optimism manifested itself as an acceleration in development activity and an increase in whale demand for SUSHI
- Technicals and metrics imply significant bearishness
- SUSHI could wrap up 2022 in a bumpy ride
JUST IN: now on top 10 purchased tokens among 100 biggest whales in the last 24hrs 🐳 We’ve also got , , , & on the list 👀 Whale leaderboard: — WhaleStats (tracking crypto whales) (@WhaleStats)
SUSHI Technicals Not Looking Great
The coin has found support at $1.013 and is presently trading at $1.119. The price is at a red candle, supporting a further drop in the near future. Money Flow Index verifies the decline that has started despite RSI readings near neutral levels. This pessimism is bolstered by the gloomy data from . Exchange reserve data have grown over the past few days, despite increased development activity and whale interest being incredibly favorable indicators. The oversold level of SUSHI’s stochastic relative strength index (RSI) may serve as a catalyst for a pullback, notwithstanding the stock’s bearish sentiment.Drastic Measures Required?
Currently, the price is attempting to settle near $1.114, which could indicate that bulls and bears will remain in a prolonged deadlock. CMF data for SUSHI may suggest a turnaround. Messari’s revealing of a major in SUSHI’s volatility could help investors and traders gain some momentume. Sharpe’s ratio indicates that the token’s performance indicates very low returns relative to its volatility.The current state of the crypto may be the result of recent reports that the DEX’s finances are not in good shape, and its CEO Jared Grey is considering severe measures to remedy the situation.
With observing repeated reductions in TVL for SUSHI, investors and dealers of the token may have a colder winter this year.SUSHI total market cap at $141 million on the daily chart | Featured image: USDA, Chart: