SushiSwap (SUSHI) and NEAR Protocol Technical Analysis: What to Expect? - Crypto News
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SushiSwap (SUSHI) and NEAR Protocol Technical Analysis: What to Expect?

NEAR Protocol and SushiSwap buyers are irrefutably in control, judging from technical analysis in the daily chart. SUSHI/USDT appears ready for $23, while NEAR/USDT bulls aim at $7.5.

NEAR Protocol (NEAR)

The NEAR Protocol runs on a Proof-of-Stake consensus algorithm called Nightshade and relies on its native token called NEAR. From this blockchain-pinned platform, dApps become usable on the ordinary web.

Past Performance of NEAR

NEAR is presently trading at around $6.8, adding 22 percent on the last day of trading.

Nonetheless, NEAR/USDT is ranging inside a $1.24 zone with identifiable caps at $5.56 and $7.32 since today’s open.

Keeping bulls going is the uptick in trading volumes which are up 58 percent to $292 million.

Day-Ahead and What to Expect

NEAR/USDT technical analysis points to strength.

Prices are tearing higher with rising trading volumes after a brief period of consolidation.

Overly, NEAR/USDT prices are bottoming up after dropping nearly 50 percent from Q1 2021 peaks.

NEAR/USDT Technical Analysis

The uptrend is solid. NEAR bulls are unquestionably in the driving seat.

With NEAR bars aligning along the upper BB in a breakout above April 2021 H2 highs, every dip above $6 may technically be a loading opportunity.

A close above $6—Q1 2021 highs—could see buyers drive NEAR to $7.5—the 1.618 Fibonacci extension level.

SushiSwap (SUSHI)

The Uniswap hard fork enables trustless swapping of tokens, locking in $4.72 billion in liquidity. SUSHI is its governance token.

Past Performance of SUSHI

As per candlestick arrangements and SUSHI technical analysis in the daily chart, SUSHI is trading within a bullish breakout pattern.

Prices are up roughly 19 percent versus USD and BTC.

Buoying SUSHI bulls is a spike in participation, rising 47percent to $1.2 billion on the last trading day.

Day-Ahead and what to Expect

Aforementioned, SUSHI is trading at around April 2021 highs in a bullish breakout pattern.

Additionally, the middle BB is slanting positively, pointing to demand in lower time frames.

Besides, the May 14 bull bar is with high participation suggesting a possible trend continuation that may lift SUSHI higher in the days ahead.

SUSHI/USDT Technical Analysis

Technically, in a bullish breakout pattern and buy trend continuation of Q1 2021, SUSHI buyers are in control.

As such, every low might be a loading opportunity.

Therefore, a conclusive close above April 2021 highs and $17 form a launching ground for $23—March 2021 highs—in the short-term.

   

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