SushiSwap (SUSHI), a token tied to a decentralized exchange (DEX), saw price action in December 2024 within an expected range, with support and resistance levels reflecting general market conditions.
Technical analysis:
Popular technical indicators such as the Relative Strength Index (RSI) and Moving Average (MA) indicate a bearish market condition, with potential for price volatility based on the level of liquidity and market reaction to events.
SUSHI price can be seen stabilizing within the range of $1.56 to $1.85 in December 2024, with an average trading price of around $1.62.
Influencing factors:
1. Trading volume: It reached around $211 million over a 24-hour period, indicating continued interest from traders.
2. Supply and Demand: The impact of active addresses and transaction volume on the blockchain remain key factors for price analysis.
3. Market sentiment impact: Analysis of social media sentiment indicates a steady interest in the currency, but with caution due to market volatility.
Future expectations:
In the short term, SUSHI is expected to continue trading near the current price range with a potential for a slight upside based on improvements in the underlying project or increased demand.
The forecast for 2025 indicates a potential rise to the range of $2.26-2.65, based on improving market conditions and wider adoption of decentralized technologies.
If you are considering investing, it is important to keep up with current analysis and general market conditions, and rely on appropriate risk management strategies.
