© Reuters. SushiSwap’s (SUSHI) Price Drops by +7% as Bearish Sentiment Weighs
- According to recent research, the SushiSwap market is dwindling.
- Bears capture the SUSHI market as bulls fail to overcome $1.37 resistance.
- Indicators point to a further drop in prices in the near future
Bullish momentum in SushiSwap (SUSHI) faded at the start of the day after encountering resistance at $1.37. As a consequence of the bull’s reluctance to recover the market, bears hijacked the SUSHI market and successfully pulled price to an intra-day low of $1.22. As of press time, the market’s bearish sentiment had driven the price down to $1.26, a 7.42% drop.
During the downturn, the market capitalization plummeted by 7.28% to $281,244,653, indicating that a pessimistic mood was prevalent in the market; however, since the 24-hour trading has increased by 0.44% to $58,523,229, indicating that the market is recovering confidence and starting to become bullish. This shift in mood might be symbolic of a larger trend, and if the market continues to grow its 24-hour trading volume, it could be on track for a robust comeback.
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