SUSHI Technical Analysis: So Far Hopes Are In Vain

The last trading week in the SUSHI market give hope to investors to end the exhausting fall wave. However, did the buyers really manage to seize the initiative in the market? Does the slowdown in the fall of the SUSHI price in the context of the weekly timeframe have a great chance of a price reversal? Today we will try to establish the truth on these issues. Although the SUSHI price has grown by 30% in two weeks, the total interest of buyers in the market has not yet been identified. Trading volumes have remained low over the past two weeks. All buyers have managed to achieve so far is to absorb the three previous candles of sellers, which also look rather weak. The global trend curve remains under the control of sellers. https://www.tradingview.com/x/2AU6skTo/ Therefore, at the moment, market participants are playing the game “whoever hits weaker will win.” Usually the result of such a game gradually turns into a consolidation with a bright price shot. The decrease in SUSHI price volatility from the end of November 2021 and the transition of its trading to the wedge confirms this scenario. However, it is difficult to say for sure that the new impulse will be in the direction of growth. The fact is that the downward trend curve clearly shows the acceleration and inability of buyers to organize deep upward corrections since March 2021. Usually, such trading situations end with the final impulse of the fall on high volumes. Thi...