SushiSwap (SUSHI) Price Prediction 2022: Is $10 EOY Price Possible?

Sushiswap-SUSHI-Price-Prediction
  • Bullish Sushi (SUSHI) price prediction 2022 is $6.5.
  • Conservative SUSHI price prediction 2022 is $2.7.
  • SushiSwap is a decentralized exchange (DEX) popular in the DeFi space.

Important: This SushiSwap (SUSHI) price prediction 2022 is purely based on the writer’s knowledge in technical analysis alone. Price analysis articles of other platforms may use different technical analysis signals and indicators that may influence their SUSHI price forecast outcome differently. Hence, we strongly suggest to do your own research before buying SUSHI. 

Decentralized finance (DeFi) continues to innovate despite losing its charm to non-fungible tokens (NFTs) and metaverse in 2022. In fact, some major platforms are being integrated into DeFi, while others are improvising their products and services to adjust to the maturing DeFi space.

While it is safe to say that DeFi is no longer all the rage today, there are still a lot of people who make money out of it. Therefore, there are still many platforms that cater to their needs. Among these are Uniswap, PancakeSwap, and, of course, SushiSwap.

SushiSwap’s native token Sushi (SUSHI) is also one of those that promise good fundamentals amid a wild 2022 market. That said, is SUSHI a good investment in 2022? Before we proceed to our SUSHI price prediction 2022, let us first answer the question “what is SushiSwap?”

What Is SushiSwap (SUSHI)?

SushiSwap is one of the most popular decentralized exchanges (DEXs) today. In fact, as of June 2022, SushiSwap, which has rebranded into Sushi to reflect its rebrand to become a one-stop DeFi ecosystem, boasts up to $2 billion in total liquidity. The DEX alone is impressive — SushiSwap has achieved a total trading volume of $221.81 billion.

The Sushi ecosystem is composed of Kashi, xSUSHI, Onsen, and a multi-chain automated market maker (AMM). In detail, Kashi is a lending and leverage platform. xSUSHI is a staking portal for SUSHI tokens. Meanwhile, Onsen is a yield farming program. 

SUSHI has a pivotal role within the Sushi ecosystem by providing incentives to holders and opening up more earning opportunities. It is an ERC-20 token, although it can be swapped across different blockchain networks as well.

Now that we have an overview of SUSHI, let us take a look at its market standing.

SUSHI Overview (At the time of writing)

CryptocurrencySushi
TokenSUSHI
Price$1.60
Market Capitalization$308,704,207
Total Supply242,559,019
24-h Trading Volume$97,782,468
All-Time High$23.38
All-Time Low$0.475381

Sushi (SUSHI) Price Prediction 2022

SUSHI is listed on some major cryptocurrency exchanges like Binance, Crypto.com, HitBTC, etc. Now, let us proceed to the charts and find out if SUSHI is indeed a good investment in 2022.

SUSHI/USDT 1-day chart (source: TradingView)

As seen on our 1-day chart, SUSHI is back to its starting line. The price has fallen way below key support levels indicated by the blue lines. Also, the candlesticks are below the 50-day and 200-day Moving Averages (MA). This shows that SUSHI price’s movement is going alongside the greater crypto space. 

To be fair, SUSHI’s price is far from its worst. As per CoinGecko, its all-time low (ATL) price is $0.47. For SUSHI to go to this price, it has to sink further by at least 237%.

We can observe a consolidation phase. This shows that a lot of SUSHI holders are capitulating, which is a normal phenomenon given the current state of the crypto market. Only time will tell whether SUSHI will have an uptrend or a downtrend in the next months to come.

SUSHI Price Prediction 2022: Falling Wedge

On the bright side, the 1-day chart has shown a Falling Wedge pattern, which is known as a bullish reversal sign. For the bullish reversal to play out, the capitulation period must first end soon. This needs to be validated by a surge in trading volume, hinting at an increase in investor and trader interest.

Falling Wedge on 1-day candlestick (source: TradingView)

In addition, SUSHI must reach at least $2.50 to suggest the possibility of a rally. This must happen in the next weeks. If this happens, SUSHI bulls need to gain support until the $6 resistance. This was a previous support level, and bulls need to retake this from the bears.

Should the bulls succeed, the next strategic ceiling to conquer is the $10 psychological resistance. This will be way tougher compared to the $2.50 and $6 levels.

Conversely, if SUSHI fails to manifest the bull reversal, then the capitulation may continue and the last line of support is $1. This has to be defended very fiercely. Fortunately, the current market movement of SUSHI suggests that this has a very low chance of happening, at least in the short-to-mid term.

SUSHI Relative Strength Index (source: TradingView)

Meanwhile, the Relative Strength Index (RSI) suggests that it is a good time to buy SUSHI. Having been in the oversold zone since March, SUSHI bulls may be accumulating now. SUSHI has been grossly oversold, but the price has stopped bleeding at $1.

In conclusion, our conservative SUSHI price prediction 2022 is $2.7. On the other hand, if SUSHI surpasses the aforementioned resistance levels, then our bullish SUSHI price prediction 2022 is up to $6.5. In fact, SUSHI even has the potential to reach as high as $10 before the year ends.

Market Prediction for SUSHI Price 2022

Digitalcoin

Digitalcoin is a well-known crypto price analysis platform with automated tools. Based on the platform’s metrics, SUSHI price may reach around $2.25 in 2022.

Wallet Investor

Wallet Investor is also another reputable crypto price forecast platform that aggregates historical pricing data. According to the platform, SUSHI price prediction forecast in 2022 may hit as low as $0.153.

Market Prediction for Sushi (SUSHI) Price 2023, 2024, and 2025

SUSHI price prediction 2023 is up to $12 (estimated)

SUSHI price prediction 2024 is up to $18 (estimated)

SUSHI price prediction 2025 is up to $28 (estimated)

SUSHI price prediction 2026 is up to $67 (estimated)


Conclusion

There are a couple of bullish indicators suggesting that SUSHI price will bounce back this year. However, these signals must be validated sooner rather than later for the SUSHI bull run to ensue.

Once again, our bullish SUSHI price prediction 2022 is $6.5. Conversely, our conservative SUSHI price prediction 2022 is $2.7.

FAQ

Is Sushi (SUSHI) a good investment?

Technical analysis aside, Sushi (SUSHI) is a good investment due to its strong fundamentals. Moreover, DeFi continues to innovate and Sushi is one of the trailblazers in the DeFi space.

Does SUSHI crypto have a future?

Honestly speaking, DeFi will always have a place within the crypto space. As long as Sushi continues to deliver good products, SUSHI will have a good future. However, like all cryptocurrencies, SUSHI is also subject to high volatility.

Is SUSHI listed on Binance?

Sushi has been listed on Binance for quite a while now. Other leading exchanges also offer SUSHI to interested buyers.

Disclaimer: The views and opinions in this article belong to the writer alone and they do not necessarily reflect the position of CryptoNewsLand (CNL). No information in this article, whether express or implied, should be taken as financial advice. emember that investing in cryptocurrency poses significant risks to your asset. Hence, CNL strongly recommends all readers to perform their own in-depth research before investing in cryptocurrency.

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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.