Sushiswap Price Movement
The price of Sushiswap’s native token, SUSHI, has fluctuated between $1 and $0.90 recently. Traders may hold or sell their tokens considering this fluctuation.
Investors Are Making Record-High Transfers Into Exchanges This Week
SUSHI along with other tokens have experienced upticks recently. However, on-chain movements suggest many SUSHI investors are looking to sell, as indicated by 226 Exchange Deposit transactions on November 16. This could lead to a price correction soon.
SUSHI Sellers Have Taken Over the Spot Markets
Aggregate Data from Order Books of crypto exchanges shows 13.7 million SUSHI up for sale, surpassing the 10.8 million SUSHI buy orders listed. This suggests a dominant bearish momentum.
SUSHI Price Prediction: Possible Reversal Below $0.90
After a 100% price gain, on-chain data readings suggest SUSHI is likely to experience a price retracement. Global In/Out of the Money data also confirms this, but there could be initial support at the $1.00 mark.
Hot Take: Sushiswap’s Future Price Movement
Be cautious about holding onto your SUSHI tokens as a price correction may be imminent. Monitor the market closely and consider a new exchange if necessary.
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