SUSHI Double Bottom on going with potential at 5,10

BULLISH MARKET_MINDS SUSHI

Market & Ticker: SUSHISWAP - SUSHI/USDT 

Date: 03/02/2023 
 
Horizon / Timing:  Mid-term / 1 to 3 months 

------ 
 

SUSHI is forming a double bottom pattern calling for bullish reversal, the potential of the double bottom is set at 5,10 while the confirmation level is set at 2,35 corresponding the short-term upside potential ongoing 
 

Scenario:  

At the current level, we expect a further bullish move toward 2,35 in extensions (+50%) before a further extension towards 3,08 (+100%) and the main target at 5,10 (230%) corresponding to the potential of the Double Bottom (if triggered). 

Technical Key Elements: 

- The long-term trend analysis shows potential towards 5,10 (+230%) before 4,90 (+300%) as long as 0,17 (-88%) Strategic support remains valid in weekly close. 
- The RSI indicator is in positive area and keeps upside potential – No divergence 
- The Moving average crossed to the upside 
- The Fibonacci key support is adjusted at 1,04 as tactical support while the Elliot wave shows upside potential towards 2,35 

 

Trade Idea conclusion: Buy - Conviction:
:médaille:
:médaille:
(Normal) 

 

Target 3: 5,10 (+230%) 

Target 2: 3,08 (+100%) 

Target 1: 2,35 (+50%) 

Buy: add in dip area 1,50/1,30 

Stop: 1,04 (-32%) 

 

 

Chart: Daily Basis (Candle Stick) - Logarithmic  

Indicators: Exponential Moving Average (21/34/89) - RSI (21) 

 

 

Saut de page 

Automata FRANCE SAS

240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata ICO Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

Automata ICO Limited, a Company incorporated in Ireland with its registered office at 3rd Floor Ormond Building, 31-36 Ormond Quay Upper, Dublin 7, D07 Ee37, Ireland registered in Ireland under number 690280 has applied for a Virtual Asset Service Provider registration with the Central Bank of Ireland. Whilst the application is ongoing, we are permitted to continue business as a Virtual Asset Service Provider in line with the Central Bank of Ireland's regulatory disclosure statement as required under section 106L of the CJA 2010 in relation to registered VASPS.

Automata ICO Limited, a Permanent Establishment incorporated in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.