SushiSwap decentralized exchanges native coin SUSH has gained 12% on Tuesday regardless of mixed performance in the crypto marketplace.
The cryptocurrency spectrum experiences mixed performance for now, with some assets in the red territory with others registering remarkable gains.
SUSHI Hits the $8 Level
SUSHI, Sushiswap’s native coin, is among the best performing digital currencies in the crypto market for now. The previous 24hours had the asset increasing its price by over 12%. The upward stance had SUSHI hitting levels past $8.
SushiSwap is a DEX forked from another decentralized exchange, Uniswap. Though the crypto exchange utilized Uniswap’s code in formulating its foundation, it improved in various facets. They included distributing rewards in SUSHI coins.
Also, the platform uses SUSHI to reward players that provide the decentralized exchange with liquidity. Moreover, the native coin acts as the platform’s governance token. Unlike Uniswap exchange, SUSHI traders can continue receiving rewards even when they stop offering liquidity.
SUSHI records lucrative movements regardless of the mixed performances seen in the crypto space at the moment. Bitcoin (BTC) has plummeted under the $50,000 threshold once more as Ether dropped under $4,000 at this publication.
Some digital tokens kept excellent performance despite underperformances in the crypto spectrum, and one of them is SUSHI.
SUSHI Targets 100-day MA
SUSHI/USD’S 24Hr is among the most bullish at the moment. The alt’s technical indicators suggest that SUSHI recovers from the latest fall and might rally higher in the up-and-coming trading sessions.
The Moving Average Convergence crossed the neutral region after the latest top-notch performance. The Relative Strength Index at 61 indicates SUSHI might enter the overbought territory if the token maintains its current strength.
If SUSHI continues rallying, it might climb to the 100-day MA at $9.37 within the coming hours. Nevertheless, the alt requires backing from the broad market to support further surges to challenge the massive resistance around $12.
SUSHI seems to defy market sentiment with gains despite the downbeat mode in the market. The token has to keep its current strength to eye further upswings. Meanwhile, following broad market trends can mean losses.
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