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The odds of SushiSwap's [SUSHI] recovery after CTO's exit

crypto-economy.com 09 December 2021 16:59, UTC
Reading time: ~2 m

SushiSwap [SUSHI] has been constantly declining since the first week of November.

SUSHI recently suffered a death cross after the 50 DMA [Pink] fell below the 200 DMA [Yellow] which dragged its price to levels last seen in June. However, there has been an abrupt uptick in trading volume which could cushion the token from a further downtrend. The absence of volatility, however, may impede growth in the near term.

The green closing bars of Awesome Oscillator [AO] depicting hints of bullish momentum may help the asset to bounce. MACD was also on the verge of a bullish crossover. However, the Relative Strength Index [RSI] hasn’t been able to pull itself up above the 50-median line even after bouncing off the oversold region twice. The above charts depict that sellers are keen on profit-taking at the slightest chance of an uptick.

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