SushiSwap’s market indicators suggested a potential trend reversal. However, SUSHI’s on-chain metrics remained bullish. On 24 January, DeFiLlama revealed that the trading volume of SushiSwap [SUSHI] on Arbitrum was steadily increasing. As per the tweet, on 23 January, 44.6% of the total SushiSwap trading volume occurred on Arbitrum. The trading volume of SushiSwap on Arbitrum […]
registered over 6% weekly gains, and at the time of writing, it was trading at $1.36 with a market capitalization of more than $303 million.Cold days for SushiSwap again?’s daily chart revealed that there was a possibility of a trend reversal soon, as a few of them were bearish. The Money Flow Index , after registering a decline, took a sideways path. SUSHI’s Chaikin Money Flow went in the same direction as MFI.
Moreover, the Relative Strength Index entered the overbought zone, which further increased the chances of a price decline in the days to follow. Nonetheless, the Exponential Moving Average Ribbon gave hope for a continued uptrend.
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