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SushiSwap (SUSHI) might be gearing up to hit the $2.3 target per CoinEdition

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SushiSwap (SUSHI) might be gearing up to hit the $2.3 target
  • People have been buying large amounts of SUSHI.
  • SUSHI is preparing to hit its $2.3 target.
  • The daily chart of SUSHI is looking very bullish at the moment as the 20 EMA line has crossed above the longer 50 EMA line.

The educational investment and cryptocurrency platform that goes by the name of Mac took to Twitter on Nov. 3 to express its interest in SushiSwap (SUSHI). According to the publication, it seems that people have been buying large amounts of SUSHI, and this makes Mac believe that the cryptocurrency could reach $2.3 next month.

SUSHI/USDT Weekly Chart Source: TradingView

Mac then returned to Twitter yesterday and in a post confirmed his suspicions from the first post that SUSHI is rising towards the $2.3 target.

SUSH/USDT Weekly Chart Source: TradingView

According to CoinMarketCap, SUSHI is currently trading at $1.81 after a 6.25% price drop in the last 24 hours, and after reaching a high of $1.99 during the same time period. Despite the crypto being in the red for the day, SUSHI is up roughly 0.29% over the past week.

SUSHI’s 24-hour trading volume is also in the red right now by over 40% and now stands at $138,874,427.

SUSHI is the 135th largest cryptocurrency with a market capitalization of $229,801,067. This places SUSHI just behind Dogelon Musk (ELON) at position 134 and in front of Ox (ZRX) at position 136.

SUSHI/USDT daily chart Source: CoinMarketCap

The daily chart of SUSHI looks very bullish at the moment as the 20 EMA line has crossed above the longer 50 EMA line. Since this bullish crossover event occurred, the SUSHI price has been in an ascending price channel.

The position of the two EMA lines suggests that there is still bullish momentum present on the SUSHI chart. As a result, the SUSHI price is trading well above the 20 and 50 EMA lines.

Disclaimer: Views and opinions, as well as all information shared in this price analysis, are published in good faith. Readers should do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates shall not be liable for any direct or indirect damage or loss.

The post SushiSwap (SUSHI) could be preparing to reach Goal (NYSE:) of $2.3 appeared first on Coin Edition.

View original on CoinEdition

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