In our last SushiSwap price forecast , the price was still above an important support. We wrote that the plotted ABC sequence could be activated once the price breaks the support. That's how it happened. SushiSwap price broke the $6.133 support and subsequently dropped below the recent low. This was at $4,349. The new low is located at $3.9. The price is currently $4,219, but how could the price go in the future? Is the last goal mentioned in the previous article still realistic?
During the last crypto crash, SushiSwap price broke the $6.133 support and as a result the price has been steadily declining. The price has formed a new low and at the same time has activated the ABC sequence drawn. This sequence has the target of $1.50, so the price could still drop about 60%. However, with horizontal support at $1.814, SushiSwap price could already be forming a bullish reversal at this point. The $2 mark could also serve as support, which is why one could invest in the SushiSwap price there, if one wants to invest at all.
How to make money during descent?
Of course, you can also earn money during the descent. You can't just profit from the market by betting on rising prices. You can also "short". You are betting on falling prices. You can do this on the FTX exchange. Click here to sign in. As SushiSwap price is likely to rally a bit in the near term to retest the broken $6.133 support, a good short position could be established in this area. As a result, assuming we go short SushiSwap, we would short the position between $5.7 and $6.133. We would bet take profits between $1.6 and $2.
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