technical analysis and trade signal for the $SUSHI /USDT pair:
Current Price: $1.84
Trend: The pair is currently showing a bullish trend with a +8.68% increase in the last 24 hours.
Resistance Level: The closest resistance is at $1.90 (24h high), which could be a key area to watch.
Support Level: The immediate support lies around $1.69 (24h low).
Key Indicators:
RSI (Relative Strength Index): RSI is indicating a moderately bullish sentiment but approaching overbought levels (around 70), suggesting that the price could pull back if it reaches too high.
MACD (Moving Average Convergence Divergence): The MACD shows a bullish crossover, indicating upward momentum and positive sentiment for the token.
Volume: The 24-hour trading volume is 58.73M USDT with 32.93M SUSHI traded. This indicates strong interest and activity, which supports the price movement.
Trade Signal:
Entry:
Consider entering at $1.75 if the price retraces to support after a brief pullback. A bounce from this level could signal continued bullish momentum.
Target Levels (Take-Profit):
1. First Target: $1.90 (Immediate resistance, near the 24h high; ~+3.3% from current price).
2. Second Target: $2.00 (Psychological resistance level; ~+8.7% from current price).
3. Third Target: $2.10 (Extended target based on previous price action; ~+14.2% from current price).
Stop-Loss Level: Place a stop-loss just below $1.69, which is the recent low and provides a good margin of safety in case the bullish trend reverses.
Trade Momentum:
Short-Term Momentum: Bullish, with strong upward movement in price and volume. Watch for minor pullbacks that may offer buying opportunities.
Medium-Term Momentum: Bullish, supported by higher highs and higher lows over the last few hours. A breakout past $1.90 could confirm further upward movement.
Recommendation:
The current bullish momentum suggests entering around $1.75 if the price sees a small dip, targeting the next resistance levels at $1.90, $2.00, and $2.10. Keep a stop-loss below $1.69 to manage risk.
