SushiSwap can work together with the entire crypto market first Course impulses contrary to the previous sales.
In our SUSHI Coin price forecast, we will look at the current developments of the decentralized exchange. Furthermore, we take a closer look at the chart and create a technical analysis.
Current course of SushiSwap
SUSHI price history since September 2020
Significant improvements in the DEX – no impact on the course?
After a variety of sustainable mechanisms to improve the decentralized exchange the course reacts rather cautiously to the updates.
Nevertheless, the SUSHI cryptocurrency can prove itself in the market. At the current state, the cryptocurrency is at Rank 13 all DeFi protocols, measured by total value-Locked (TVL).
List of the 13 largest DeFi protocols by Total-Value-Locked (TVL)
With a value equal to $1.97 Billion the development of the total value-locked can still write relatively solid figures after the recent DeFi liquidity outflow.
History of the Total-Value-Locked on the DEX SushiSwap
What makes the cryptocurrency SUSHI unique?
Those of Uniswap as Hard Fork split-off DEX was launched in September 2020. Above all, it is intended to provide stronger incentives for network participants and thus convince investors in the long term.
SushiSwap is based on a AMM – automated market maker, which allows order books to be completely avoided. The DEX instead uses a pricing algorithm that allows the assets to be automatically valued.
Furthermore, compared to normal, central crypto exchanges, liquidity problems can be caused by the use of Liquidity pools be avoided.
SUSHI 2.0: A Restructuring for the Future
After the DEX with its native SUSHI Coin 2021 is still very much of increasing interest and the DeFi-Boom the cryptocurrency collapsed in Q3 and especially Q4 together with the entire crypto market.
Especially due to the lack of a long-term orientation and lack of operational efficiency crash the crypto project. Due to the general sell-off on the crypto market, the price of SUSHI is currently trading at a price level similar to the launch 2020 in the amount of 1.60 US dollars.
A solution would have to be found – and it came: on April 25, 2022, the team behind SushiSwap announces a fully comprehensive restructuring of the project: SUSHI 2.0.
The main changes are:
- improved team retention through the distribution of a total of $6 million SUSHI
- Prioritizing the recruitment of executives
- Determination of the amount of capital for roadmap elements by the Compensation Committee
- Admission of new developers through the possibility of self-nomination
Overall, general problems are to be addressed and Clarity on the long-term vision the protocol is created.
In fact, all these steps provide a very positive roadmap for SushiSwap.
Sushi 2.0: A Restructuring For The Road Ahead
Read more at https://t.co/DPRE1AObKD pic.twitter.com/835MalCAGm
– SushiSwap (@SushiSwap) April 25, 2022
Limit Swap Orders will be free
On May 31, 2022, SushiSwap will also announce the Elimination of fees limit swap orders. Accordingly, DEX also offers investors the opportunity to place a large number of orders based on each other before the previous one has even been executed.
The official website of DEX can be found here
In practical terms, it means that investors who are betting on a rising price can place a limit buy order in the amount of $ 1.50. At this time, the assets are not yet in the possession of the investor, only the order was quoted on the DEX and is executed at the selected price.
With the new functionalities a limit sell order can already be placed at this time. In this case, the investor speculates on rising prices after his buy order has been triggered.
If the price reaches the selected price level of the Limit sell order, the previously acquired assets are automatically sold – in the optimal case, of course, with the now realized profit.
A very application-oriented mechanism, which enables automated trading without any use of a so-called trading bot.
Sushi’s Limit Orders let you set as many trades as you like, and automatically execute them.
Try Limit Orders now at https://t.co/SwXERhPnVm
And read more at https://t.co/51Kef7in6r
– SushiSwap (@SushiSwap) May 31, 2022
SushiSwap Course: Current chart analysis on SUSHI
Investors of the crypto currency SUSHI have had to be particularly strong in recent months: the price of the DeFi currency is currently trading at a price level that is increasingly approaching the all-time lows.
SushiSwap has a total market capitalization of just under $213 Million ranked 140th of all cryptocurrencies.
With its launch in September 2020, the project belongs to the younger generation of digital currencies. Since then, the SUSHI Coin initially established a strong uptrend within the bull market.
After the coin was issued on March 23, 2021 All time high in the amount of $23.40 the trend was broken after not reaching a higher high.
Since then, the SUSHI Coin has been constantly trying to break out of the downtrend again.
In the chart, we can see that on September 13, 2021, the price again bounced strongly from the 16 US dollar resistance mark
Currently, the SUSHI Coin price is at the lower level of normal volatility, which is due to the Bollinger Bands (BB) is specified.
The volume of the recent uptrend was convincing at the beginning with an increase.
SUSHI Coin price on the 1-week chart
At the moment, however, the volume is at a moderate price increase decline, a potent confirmation of the movement thus remains from a perspective of trading volume.
Our predictions about SushiSwap (SUSHI) Coin
Despite bullish fundamentals, the price of the crypto currency gets only a little of the current developments of the project.
As already indicated in the technical analysis, the SUSHI Coin is at a historically low level. Nevertheless, this does not mean that the cryptocurrency can not fall even further.
As an altcoin, SushiSwap is highly dependent on the price movements of Bitcoin, the leading coin of all cryptocurrencies. Bitcoin correlates strongly with the financial markets.
Bitcoin price grows: BTC rises above $31,000, positivity increases
The Bitcoin price is growing. BTC is rising above $31,000 and can start a second week of positive sentiment for the first time since March.
Accordingly, the macroeconomic events at any time at a higher level of influence for the future price movement of SUSHI.
From a purely technical point of view, the sustainable breakage, the resistance line drawn in the chart is essential.
A large resistance mark is the 2 US dollar mark on a short-term basis.
The Moving Average Convergence Divergence (MACD) The indicator indicates a trend reversal, i.e. the re-establishment of an uptrend on a longer unit of time.
SushiSwap price on the 1-week chart
Further volatile sell-offs or increases are rather unlikely from a technical point of view. Slight price increases with increasing consolidation can be predicted for the near future. The general prerequisite for this, of course, is the continued recovery of the financial markets.
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