SushiSwap (SUSHI) Price Prediction 2023 — Will SUSHI Hit $5 Soon?

SushiSwap (SUSHI) Price Prediction 2022 — Will SUSHI Hit $5 Soon?
  • Bullish SUSHI price prediction is $1.331 to $4.520.
  • SushiSwap (SUSHI) price might also reach $5 soon.
  • Bearish SUSHI  price prediction for 2023 is $0.893.

In SushiSwap (SUSHI) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about SUSHI to analyze the future movement of the cryptocurrency. 

SushiSwap(SUSHI) Current Market Status

Current Price $1.11
24 – Hour Trading Volume $74,285,839
24 – Hour Price Change 4.4% up
Circulating Supply 192,789,255
All – Time High $23.38 (On March 13, 2021) 
SUSHI Current Market Status (Source: CoinGecko)

What is SushiSwap (SUSHI)?

SushiSwap (SUSHI) is the native token in the SushiSwap decentralized exchange on the Ethereum blockchain DEX that was first launched as a clone of Uniswap by unknown open-source developers Chef Nomi and 0xMaki on 2020. SUSHI is a frequently utilized token that works on various blockchain networks. It serves as the major medium on this decentralized exchange (DEX). Users receive native SUSHI tokens as LP rewards.  

Users can swap between various virtual currencies on SushiSwap utilizing a connected cryptocurrency wallet.  SushiSwap allows users to deposit assets into liquidity pools. SUSHI grants voting powers to the DEX users and also serves as a form of  LP rewards on the platform.

SushiSwap (SUSHI) Price Prediction 2023

SushiSwap (SUSHI) holds the 138th position on CoinGecko right now. SUSHI price prediction 2023 is explained below with a daily time frame.

SUSHI /USDT   Horizontal channel pattern (Source: Tradingview)

The above chart of SushiSwap (SUSHI) laid out is the Horizontal channel pattern, also known as the sideways trend. In order to indicate how the price is constrained between the upper line of resistance and lower line of support, horizontal channels are trend lines that join changeable price highs and lows.

Currently, SushiSwap (SUSHI) is in the range of $1.12. If the pattern continues, the price of SUSHI  might reach the resistance levels of $1.925 and $3.721. If the trend reverses, then the price of SUSHI may fall to $0.923.

SushiSwap (SUSHI) Support and Resistance Levels

The chart below shows the support and resistance levels of SushiSwap (SUSHI).

SUSHI /USDT Support and Resistance Levels (Source: Tradingview)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for SushiSwap (SUSHI).

Resistance Level 1$1.684
Resistance Level 2$2.753
Resistance Level 3$4.520
Support Level$0.893
SUSHI /USDT Support and Resistance Levels

The charts show that SushiSwap (SUSHI)  has performed a bullish trend over the past month. If this trend continues, SUSHI might run along with the bulls overtaking its resistance level at $4.520.

Accordingly, if the investors turn against the crypto, the price of SushiSwap (SUSHI) might plummet to almost $ 0.893, a bearish signal.

SushiSwap (SUSHI) Price Prediction 2023 — RVOL, MA, and RSI

The Relative Volume (RVOL) of SushiSwap (SUSHI) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of SUSHI lies below the cutoff line, indicating weak participants in the current trend.

SUSHI /USDT RVOL, MA, RSI (Source: Tradingview)

Also, the Moving Average (MA) of SushiSwap (SUSHI) is shown in the chart above. Notably,  SushiSwap (SUSHI)  price lies below 50 MA (short-term), so it is downward. Currently, SUSHI has entered a bearish state. Therefore, there is a possibility of a reversal trend of SUSHI at any time.

Meanwhile, the relative strength index (RSI) of the SUSHI is 60.05. This means that SushiSwap (SUSHI) is nearly in an overbought state. However, this means a major price reversal of SUSHI may occur in the upcoming days. So, traders need to trade carefully.

SushiSwap (SUSHI) Price Prediction 2023 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of SushiSwap (SUSHI). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

SUSHI /USDT ADX, RVI (Source: Tradingview)

The above chart represents the ADX of SushiSwap (SUSHI). Currently, the ADX of SUSHI lies in the range of 21.926 and thus, it indicates a weak trend. 

The above chart also represents the Relative Volatility Index (RVI) of SushiSwap (SUSHI). RVI measures the constant deviation of price changes over a period of time. The RVI of SUSHI lies above 50, indicating high volatility. In fact, the RSI of SushiSwap (SUSHI) is at 60.05 thus confirming a potential buy signal.

Comparison of SUSHI with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and  SushiSwap (SUSHI).

BTC Vs ETH Vs SUSHI  Price Comparison (Source: Tradingview)

From the above chart, we can interpret that the price action of SUSHI is similar to BTC and ETH. This indicates that when the price of  BTC and ETH  increases, the price of SUSHI increases. When the price of BTC and ETH decreases, the price of SUSHI decreases.

SushiSwap (SUSHI) Price Prediction 2024-2030

Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of SushiSwap (SUSHI)between 2024 and 2030.

SushiSwap (SUSHI) Price Prediction 2024

With several upgrades in the network, SushiSwap (SUSHI) might enter a bullish trajectory. If the coin grabs the attention of major investors, SUSHI might rally to hit $12 by 2024. 

SushiSwap (SUSHI) Price Prediction 2025

If SushiSwap (SUSHI)sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 7 years, SUSHI would rally to hit $15.

SushiSwap (SUSHI) Price Prediction 2026

If SushiSwap (SUSHI) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, SUSHI would rally to hit $20.

SushiSwap (SUSHI) Price Prediction 2027

If SushiSwap (SUSHI) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, SUSHI would rally to hit $25. 

SushiSwap (SUSHI) Price Prediction 2028

SushiSwap (SUSHI) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, SUSHI would hit $28 in 2028.

SushiSwap (SUSHI) Price Prediction 2029

If investors flock in and continue to place their bets on SushiSwap (SUSHI) (SUSHI), it would witness major spikes. SUSHI might hit $31 by 2029.

SushiSwap (SUSHI)  Price Prediction 2030

With greater advancements in the Basic Attention TokenEcosystem, the crypto community might continue to invest in SUSHI for the next 8 years and drive significant price rallies for the token. Hence, SushiSwap (SUSHI) might hit $34 by 2030.

Conclusion

With continuous improvements in the SushiSwap (SUSHI)Network, we can say that 2023 is a good year for SUSHI. For this reason, the bullish price prediction of SushiSwap (SUSHI) in 2023 is $4.520. On the other hand,  the bearish price prediction of SushiSwap (SUSHI) price prediction for 2023 is $0.893.

Furthermore, with the advancements and upgrades to the Basic Attention Token ecosystem, the performance of SUSHI would help to reach above its current all-time high (ATH) of $23.38 very soon. But, it might also reach $5  if the investors believe that SUSHI is a good investment in 2023.

FAQ

1. What is SushiSwap (SUSHI)?

SushiSwap (SUSHI)is the governance token of SushiSwap. SushiSwap is a decentralized exchange protocol on Ethereum that facilitates the smooth swapping of ERC-20 tokens. SUSHI was launched in 2020.

2. Where can you purchase SushiSwap (SUSHI) ?

SushiSwap (SUSHI) (SUSHI) has been listed on many crypto exchanges which include  Binance, OKX, XT.COM, BTCEX and CoinTiger.

3. Will SushiSwap (SUSHI) reach a new ATH soon?

With the ongoing developments and upgrades within the Basic Attention Token Platform, SUSHI  has a high possibility of reaching its ATH soon.

4.  What is the current all-time high (ATH) of SushiSwap (SUSHI)?


On March 13, 2021 SushiSwap (SUSHI) reached its new all-time high (ATH) of  $23.38.

5. Is SushiSwap (SUSHI) a good investment in 2023?

SushiSwap (SUSHI) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Basic Attention Token In the past few months, SUSHI  is considered a good investment in 2023.

6. Can SushiSwap (SUSHI) reach $5?

SushiSwap (SUSHI) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then SushiSwap (SUSHI) will hit $5 soon.

7. What will be the price of SushiSwap (SUSHI) by 2024?

 SushiSwap (SUSHI) price is expected to reach $12  by 2024.

8. What will be the price of SushiSwap (SUSHI) by 2025?

 SushiSwap (SUSHI)price is expected to reach $15 by 2025.

9.  What will be the price of SushiSwap (SUSHI) by 2026?

 SushiSwap (SUSHI) price is expected to reach $20 by 2026.

10. What will be the price of SushiSwap (SUSHI) by 2027?

 SushiSwap (SUSHI) price is expected to reach $25 by 2027.   

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

A passionate writer who  is keenly exploring crypto and Blockchain loves to know about new things and exploring what is happening in world.