SUSHIUSDT 50 % drop likely - Beware
Updated
Sushi remains in the long-term downtrend and looks as bad as many other altcoins.
In this case we also expect 50 % drop.
The price already broke below the upsloping support line and is retesting it as a resistance.
- We expect the rejection and continuation to the downside.
- Even if the price manage to pump above the upsloping line that should be acting as a resistance now, there´s still the major downsloping resitance line where we expect the rejection and downtrend continuation.
- Retesting all time lows is likely as long as the trend remains bearish but there´s also support at 0,60$ which would be approx. 50 % drop.
- To become bullish the price has to break above the downsloping resistance line which is less likely in our opinion especially that BTC.D is expected to bounce from its key support.
Good luck
In this case we also expect 50 % drop.
The price already broke below the upsloping support line and is retesting it as a resistance.
- We expect the rejection and continuation to the downside.
- Even if the price manage to pump above the upsloping line that should be acting as a resistance now, there´s still the major downsloping resitance line where we expect the rejection and downtrend continuation.
- Retesting all time lows is likely as long as the trend remains bearish but there´s also support at 0,60$ which would be approx. 50 % drop.
- To become bullish the price has to break above the downsloping resistance line which is less likely in our opinion especially that BTC.D is expected to bounce from its key support.
Good luck
Note
The idea is still valid. Expecting the price to break down soonNote
Sushi was strongly supported by Sam owner of FTX. As FTX collapsed , we expect that Sushi will continue dropping. Even though the price broke above the downsloping trendline, it´s likely that it will be a fakeout and the price will keep dropping.
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