SUSHI/USDT has recently experienced significant price fluctuations, following a rally that peaked at 0.85. The cryptocurrency is now facing critical support levels as it attempts to regain momentum after a notable pullback, and the source notes that traders are closely monitoring these levels for potential buying opportunities.
SUSHI/USDT Price Decline and Support Testing
After reaching a high of 0.85, SUSHI/USDT saw a decline, testing support around 0.7746. The price fell below the 0.8129 buy-side liquidity zone, indicating that the earlier surge was more of a liquidity grab than a genuine breakout. Currently, SUSHI is showing signs of recovery, trading just above 0.7117, which marks a 2.26% increase over the past day.
Technical Indicators and Resistance Challenges
The price has successfully crossed above the 9-period EMA at 0.7011, and the RSI reading of 61.20 indicates short-term bullish momentum. However, the 0.7150 to 0.7200 resistance zone poses a significant challenge. If SUSHI can break through this barrier with increased trading volume, it may continue its upward trajectory.
In a recent development, Sorare has migrated to the Solana blockchain to enhance its digital sports platform, a move that contrasts with the current fluctuations in the SUSHI/USDT market. For more details, see read more.
