Source : coinquora.com
- Bullish SushiSwap price prediction ranges from $14.87 to $23.56.
- The SushiSwap price might also reach $30 soon.
- SushiSwap’s bearish market price prediction for 2021 is $6.22.
This SushiSwap Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our SUSHI price analysis and prediction.
SushiSwap (SUSHI) is one of the digital assets that took the crypto market by storm when it smashed the ATH price of $23.38. Specifically, this crypto has been seen to move aggressively since the early days of the year. In fact, SUSHI successfully nailed a whopping growth rate of over +1,100% in the past 12 months. Yes, you heard it right, a huge increase rate of +1,100%, not hundreds but thousands. With this, we can really say that SUSHI has been doing its job well in developing its platform over the years.
Can SUSHI reach $30 in 2021? We will find out shortly. But before we proceed to our SUSHI price prediction, let us first answer the question “What is SushiSwap (SUSHI)?” in this SUSHI price prediction 2021 article.
What is SushiSwap (SUSHI)?
SushiSwap (SUSHI) is an automated market maker (AMM). This is an increasingly well-known tool among cryptocurrency users. More so, the AMMs are decentralized exchanges that utilize smart contracts to create markets for any given pair of tokens.
SushiSwap launched in September 2020 as a fork of Uniswap, the AMM which has become synonymous with the DeFi movement and associated trading spike in DeFi tokens.SUSHI’s native token SUSHI, reached its new ATH of $23.38 on Mar 13, 2021. Even more, since then the coin has faced many challenges.
Now that we have an idea about SUSHI, do you think SUSHI will be profitable crypto in 2021? Join me and let us see the charts in this SUSHI price prediction.
SushiSwap (SUSHI) Market Position
As of the time of writing this SushiSwap price analysis, SUSHI trades at $12.6 with a 24-hour trading volume of $336,008,375, according to CoinGecko. The price of SUSHI has decreased by 6.83% in the last 24 hours.
Furthermore, SUSHI has a current circulating supply of 127,244,443.00 SUSHI. Currently, the top cryptocurrency exchanges for SUSHI are Binance, FTX, OKEx, Huobi Global, and CoinTiger. Now, let’s proceed to the next part of this SUSHI price prediction for 2021.
SushiSwap (SUSHI) Price Analysis 2021
Currently, SUSHI holds the 74th place on CoinGecko. But will the latest upgrades, developments, and changes in the SUSHI blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this SUSHI price prediction article.
Based on the graph above, the chart displays a cup and handle pattern. The pattern represents a period of consolidation which might result and reach an immediate price breakout or breakdown. A breakdown from the lower trendline represents the start of a new bearish trend, while a breakout from the upper trendline shows the start of a new bullish trend.
As shown above, at the beginning of this month, SUSHI turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.
The Relative Strength Index (RSI) of SUSHI points at level 52.49, this means that SUSHI is at either an overbought or oversold state. In this case, traders and investors can confidently trade without worrying about any major price reversal.
Therefore, traders must trade crypto wisely and should not be affected by the market hype. Keeping all this in mind, traders can move away from unexpected losses due to the crypto market’s wild swings.
Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of SUSHI.
Since the start of 2021, SUSHI’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, SUSHI has a competitive market this 2021.
SushiSwap (SUSHI) Price Prediction 2021
The chart below shows that SUSHI has performed great over the past few days. However, the SUSHI price shows a bullish signal. If this trend continues, SUSHI might run along with the bears, breaking its $23.56 resistance level and go higher.
Conversely, if the investors do not favor crypto, the bears might take over and pull SUSHI from its uptrend position. In simpler terms, the price of SUSHI might decrease to almost $6.22, a bearish signal.
Meanwhile, our long-term SUSHI price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $23.38 this year. Moreover, SUSHI can hit ATH only if it breaks many previous psychological resistances.
SushiSwap (SUSHI) Price Prediction 2022
If this bullish trend continues, SUSHI will reach $40 by the end of 2022. Moreover, the first half of 2022 is going to show rapid growth, up to $45. Then the rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $40 is quite optimistic in the price point of view but undoubtedly feasible for the near future.
SushiSwap (SUSHI) Price Prediction 2023
If SUSHI holds the support level around 200-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $75, making it not plummet but play consistently.
SushiSwap (SUSHI) Price Prediction 2024
As per the latest upgrades, developments, SUSHI price prediction, and new project forecasts of the platform, SUSHI investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of SUSHI in the crypto market, and it will be the best investment as the price can spike and reach around $125.
SushiSwap (SUSHI) Price Prediction 2025
In the next four years, SUSHI prices could race up to $250. However, reaching this level could not be so difficult for SUSHI as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that SUSHI has a high possibility of reaching a new ATH soon in the next five years as per the prediction.
SUSHI has a bright future ahead of it in 2021. With the ongoing developments happening within the SUSHI ecosystem, as well as in the overall crypto market, we may see SUSHI reach new heights.
Bullish SUSHI price prediction 2021 is $23.56. As said above, it may even reach $30 if investors have decided that SUSHI is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
SushiSwap is an automated market maker (AMM). This is an increasingly well-known tool among cryptocurrency users. It’s native token is SUSHI.
For those looking for dividend-like income, SushiSwap could be an attractive investment.
It is safe to say that even without audits, SushiSwap is secure. Running for at least a year, the exchange has never been hacked.
While Uniswap handles more volume and has been around for more time, SushiSwap does have some unique benefits such as a yield farming platform and bonuses for token holders.
Users can obtain SUSHI tokens by purchasing them from cryptocurrency exchanges such as Binance, or Huobi Global.
SUSHI is one of the potential crypto token in 2021. However, SUSHI has a high possibility of surpassing its current ATH at about $23.38 this year.
Yes, it’s very much possible that SUSHI might reach $30 in the near future as per the current bullish trend.
SushiSwap (SUSHI) price is expected to reach $45 by 2022.
SushiSwap (SUSHI) price is expected to reach $75 by 2023.
SushiSwap (SUSHI) price is expected to reach $125 by 2024.
SushiSwap (SUSHI) price is expected to reach $250 by 2025.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.