Long $SUSHI
It's been over three weeks since the all time high in 
SUSHI and it finally looks poised for a move higher. There have been headwinds for Sushiswap coming from Uniswap V3, high gas fees, and increased competition from competing chains like Binance Smart Chain, Solana, and others. After the drop from the all time high over $23 price has been consolidating the last two weeks or so around $15 and the two times the .786 Fib has been tested (drawn from the low on Feb 23 to the ATH on Mar 13) it has held. The MACD on the 4 hour and on the 1D are about to crossover and on high time frames this crossover is usually a pretty reliable indicator.
This consolidation, double bottom, and MACD crossovers give a compelling case for taking a long.
** Note the crossovers have not yet happened and while I can estimate the trajectories for both will happen in the next day or so, you take more risk taking this trade before it happens, but you also get more reward **
Other fundamental reasons to be long SUSHI.
1) Bonsai project in development with Solana blockchain
2) Polkadot implementation also coming
3) One of the leaders in total value locked in the space
4) Strong ties with Sam Bankman-Fried
5) Strong groundswell and community support (integration with Yearn ecosystem, Badger, etc... and strong communities tend to succeed in decentralized space)
Really a lot to like for holding spot long and technicals suggest increasing spot or even taking a small / more risky leverage position.
SUSHI and it finally looks poised for a move higher. There have been headwinds for Sushiswap coming from Uniswap V3, high gas fees, and increased competition from competing chains like Binance Smart Chain, Solana, and others. After the drop from the all time high over $23 price has been consolidating the last two weeks or so around $15 and the two times the .786 Fib has been tested (drawn from the low on Feb 23 to the ATH on Mar 13) it has held. The MACD on the 4 hour and on the 1D are about to crossover and on high time frames this crossover is usually a pretty reliable indicator.This consolidation, double bottom, and MACD crossovers give a compelling case for taking a long.
** Note the crossovers have not yet happened and while I can estimate the trajectories for both will happen in the next day or so, you take more risk taking this trade before it happens, but you also get more reward **
Other fundamental reasons to be long SUSHI.
1) Bonsai project in development with Solana blockchain
2) Polkadot implementation also coming
3) One of the leaders in total value locked in the space
4) Strong ties with Sam Bankman-Fried
5) Strong groundswell and community support (integration with Yearn ecosystem, Badger, etc... and strong communities tend to succeed in decentralized space)
Really a lot to like for holding spot long and technicals suggest increasing spot or even taking a small / more risky leverage position.
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