SushiSwap (SUSHI), a token tied to a decentralized exchange (DEX), saw price action in December 2024 within an expected range, with support and resistance levels reflecting general market conditions.
Technical analysis:
Popular technical indicators such as the Relative Strength Index (RSI) and Moving Average (MA) indicate a bearish market condition, with potential for price volatility based on the level of liquidity and market reaction to events.
The price of SUSHI can be observed to stabilize within the range of $1.56 to $1.85 in December 2024, with an average trading price of around $1.62.
Influencing Factors:
1. Trading Volume: Approximately $211 million during the 24-hour period, indicating ongoing interest from traders.
2. Supply and Demand: The impact of active addresses and transaction volume on the blockchain remains key factors for price analysis.
3. Market Sentiment Impact: Analyzing trends on social media indicates steady interest in the currency, but with caution due to market volatility.
Future forecasts:
In the short term, SUSHI is expected to continue trading near the current price range with a slight potential increase based on improvements in the core project or increased demand.
The forecasts for 2025 suggest a potential rise that could reach the range of $2.26 - $2.65, based on improved market conditions and broader adoption of decentralized technologies.
If you are considering investing, it is important to follow up-to-date analyses and general market conditions, relying on appropriate risk management strategies.