Jack's Trading Classroom | SUSHIPERP Sushi Short Review Update

On May 3 and 6, 2021, we published two technical analyses on SUSHI token. At that time, we mentioned a bullish entry point at $14 and set the stop-loss level at $10.1023.

On May 3rd and 6th, 2021, we published two technical analyses on SUSHI token. At that time, we mentioned entering a long position at the price of 14 yuan with a stop-loss point set at 10.1023.

Today, we are looking at the daily chart of SUSHIPERP. Currently, within the daily chart, the short to medium-term targets mentioned in the previous analysis based on Fibonacci sequence have all been achieved.

The previous high at 18.4600 and the Fibonacci 161.8 resistance at 18.3391 have been surpassed earlier, indicating a stronger bullish trend ahead.

For trend trading, future resistance should be focused on the previous high resistance at 23.4442, which coincides with the Fibonacci 261.8 resistance at 23.4298. Therefore, the remaining long positions can be closed at this price level.

It can also be judged that there is still room for upward movement after breaking the previous daily high, and protective stop-loss orders can be set after the target is surpassed.

In recent days, the digital currency market has experienced significant fluctuations. It is recommended that traders strictly follow risk control measures and avoid high leverage and high contract volume trading to prevent additional losses caused by volatile market conditions. This article reflects personal opinions, please read with caution. Cryptocurrency trading may pose risks to your capital.

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