SUSHI has been consolidating for 10 months, quite a long period for a crypto.
It seems that this is an accumulation process following Wyckoff method.
CMF values are also in a triangle. Break-out would accelerate prices to upper side.
In my opinion, we can DCA here to around $0.95 and hold for few weeks (or months if needed), waiting to sell at the upper ranges (around $2) with interesting R:R=5:1.
- Invalidation: Weekly close below the longterm trenline (low-range continuous black line)
- Stoploss: below $0.856
What do you think about SUSHI and about this analysis?
Note
It seems that the current downtrend (1D) ends, at the correction phase (following Elliott waves analysis)Note
SUSHI is up +10%CMF is breaking the triangle (wait until weekly close to confirm). If successful, SUSHI will go up faster.
Note
SUSHI is still at interesting area to accumulate. On 1W TF, volume indicator CMF retested the trendline and seems to bounce.Note
Trendline supports hold wellTrade closed manually
SUSHI broken the 1W trendline
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.