SushiSwap and Synthetix Highly Bullish Despite Consolidation in Crypto Market

Vandana  |  Dec 15, 2020

From the past few days, the crypto market has been highly volatile but this week started with quietness. The recent weekend went quite well as the bulls were trying to recover from the losses. Despite this consolidation in the crypto market, SushiSwap and Synthetix have been quite bullish. Both the tokens are performing really well for the past few days. 

SushiSwap and Synthetix Increases More Than 10%

Both Sushiswap and Synthetix are maintaining a bullish rally for the past 24 hours. Both of them have managed to gain more than 10% in a single day. SushiSwap was up by 13% and is currently trading at the $2.6 level as it recovered from $2. It is now eyeing a $3 mark and if it manages to maintain this bull run then it will be able to reach that level as well. 

Along with this, the current Relative Strength Index (RSI) is completely strengthening the ongoing bullish outlook. Until and unless the RSI remains in the bullish outlook, SushiSwap will continue to increase. With this trend, the token might be able to reach $3 very soon but for this RSI also needs to be in the uptrend.

Synthetix Trading at $5.45

Synthetix is trading at $5.45 and has managed to increase by 16% in the past 24 hours. At present, it is trading at $5.45 and is still showing a highly bullish outlook. Here also the RSI is in upward momentum which is confirming the bullish outlook for the token. In order to remain in this bull rally, the RSI of both SushiSwap and Synthetix needs to be in an uptrend. There are predictions that Synthetix might be able to reach $10 if it manages to stay in the same outlook. This kind of bull rally is quite unusual when the whole crypto market is not in that position.

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