$SUSHI /USDT - 3-Minute Chart Technical Analysis
Overview:
SUSHI/USDT is displaying strong upward momentum, with a price increase of +27.87% over the last 24 hours. The current price is $2.005, and the asset recently tested the resistance at $2.042. This bullish move is supported by an upward crossover of the 7-period moving average (MA) above both the 25-period MA and 99-period MA, signaling a continued uptrend in the short term.
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Key Levels:
Resistance (Red):
$2.042 (recent high)
$2.100 (psychological level)
Support (Green):
$1.972 (MA-7 level, immediate support)
$1.901 (MA-25 level, strong support)
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Trade Signals:
Short Trade Signal:
Entry Price: $2.005 (current level)
Stop Loss: $2.050 (to prevent overexposure above resistance)
Take Profit Targets:
1. $1.972
2. $1.901
3. $1.850
Long Trade Signal:
Entry Price: $2.005 (on breakout above $2.042)
Stop Loss: $1.972 (below immediate support)
Take Profit Targets:
1. $2.042
2. $2.100
3. $2.150
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Indicators:
Bullish: Price consistently above MA-7 and MA-25.
Bearish Risks: Rejection at $2.042 could lead to retracement towards $1.901.
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Cautionary Note:
Watch for a confirmed breakout or rejection around $2.042 before committing to long trades. For short trades, monitor volume closely to assess the strength of the selling pressure.
