SUSHI Technical Analysis: Retest Phase of $3.5 Brings Entry Spot

SUSHI coin price shows a morning star pattern retesting the rounding bottom breakout. Should you buy this retest or wait for another breakout opportunity? Key technical points: SUSHI coin price retests the $3.5 breakout. In addition, the price fails to surpass the 50-day EMA. Finally, the 24-hour trading volume of Sushiswap is $188 Million, marking a 5% fall. Past Performance of SUSHI SUSHI coin price shows a remarkable recovery from the $2.80 support level resulting in the 35% rally last fortnight. The rally shows a bullish breakout of the rounding bottom pattern but fails to surpass the 50-day EMA. Therefore, the resulting morning star pattern retests the bullish breakout of the rounding bottom neckline at $3.50. Source-Tradingview SUSHI Technical Analysis SUSHI coin price shows a 3% retracement in the last 48 hours due to failing to surpass the $3.75 mark. However, the increasing buying pressure from the bullish rally last week might shortly resume the post-retest bull run. The crucial EMAs (50, 100, and 200) maintain a bearish alignment in the daily chart with a significant spread that gives an early reversal possibility. However, the 50-day EMA provides solid resistance that avoids the early reversal possibility. RSI Indicator: The RSI slope shows a remarkable recovery in the underlying bullishness, as the RSI line crosses above the 50% mark with a sharp reversal. Moreover, the 14-day SMA continues to provide support as i...