SUSHI did an excellent 55% run up after breaking the H&S neckline. If you bought the neckline breakout or re-test as indicated before you should have banked a very nice profit! Well done.
Now SUSHI reached a weekly resistance at $2.3 and we may range here a bit before re-fueling for a new up-trend with a target around $3.2. Therefore, it is now best to wait until SUSHI develops a new momentum to push pass the weekly resistance.
Tentative longs can be taken at Fib 23% or when re-testing the diagonal support. Should those not hold, then SUSHI may correct further down, however that is unlikely considering that recently SUSHI and YFI announced a merger of their liquidity and further integration.
This is very bullish for SUSHI and YFI, therefore watch these two coins. They can offer excellent long opportunities.
Now SUSHI reached a weekly resistance at $2.3 and we may range here a bit before re-fueling for a new up-trend with a target around $3.2. Therefore, it is now best to wait until SUSHI develops a new momentum to push pass the weekly resistance.
Tentative longs can be taken at Fib 23% or when re-testing the diagonal support. Should those not hold, then SUSHI may correct further down, however that is unlikely considering that recently SUSHI and YFI announced a merger of their liquidity and further integration.
This is very bullish for SUSHI and YFI, therefore watch these two coins. They can offer excellent long opportunities.
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📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
Related publications
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.