Bolide Banner

SushiSwap | A Little More Drop And Then Massive Move

By moon333 | moon333 | 1 Jul 2021


Hey friends, hope you are well, and welcome to the new update on SushiSwap (SUSHI).

Different support and resistance levels:
Since November 2020 the price action of Sushi was very strong bullish. Finally, Sushi found the resistance at $22.5 and after being rejected to two times by this resistance level it has been dropped to $6 support level. Currently, the priceline is moving between the $6 support and the $10 resistance. After $10 we have resistance at 13.5 dollars then the final resistance is at 22.5 dollars.


The daily SMAs:
On the daily time frame chart, after the drop, the price action has broken down the simple moving averages with the time period of 50,100 and 200. There is also a death cross formed above the price line that is putting more pressure on the price action. The100 simple moving average is also moving down to form a bear cross with 200 SMA. Therefore, we can expect that the price action of Sushi might break down the $6 support level.

Big bullish BAT pattern:
on the weekly time frame chart, the price action is very close to entering the buying zone of a big bullish BAT pattern.


The buying and sell targets as per the Fibonacci sequence of this pattern are:
Buy between: $5.38 to $3.08

Sell between: $10.85 to $19.07
The maximum extent of the potential reversal zone $3.08 can be used as stop loss. As per the above targets, this trade has a huge profit possibility of 500%, and the high loss possibility is 42%. Therefore try to buy it within the potential reversal zone as low as possible.

There is a little more drop expected as the price action is completing the final leg of the bullish BAT pattern. The daily simple moving averages are also signaling a bit more drop. However, once the bullish harmonic pattern will be completed the price action can turn very strong bullish and can make another attempt to break out that $22.5 and resistance level.

You can also support my work at Patreon:


In order to play and watch the current performance of the chart you need at least a free account on tradingview:

KuCoin is one of the best exchange to find crypto gems:


Link for Binance exchange, to trade crypto: 



Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.


How do you rate this article?




Hi, My name is Atif Akbar and I am a trader and trading charts author


Hi my name is Atif Akbar and i am trading charts author of different assets like crypto, forex, commodities, CFDs Stocks e.t.c.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.