SushiSwap (SUSHI) and NEAR Protocol (NEAR) Technical Analysis: What to Expect?
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SushiSwap (SUSHI) and NEAR Protocol (NEAR) Technical Analysis: What to Expect?

May 15, 2021      Dalmas Ngetich

NEAR Protocol and SushiSwap buyers are irrefutably in control, judging from technical analysis in the daily chart. SUSHI/USDT appears ready for $23, while NEAR/USDT bulls aim at $7.5.

NEAR Protocol (NEAR)

The NEAR Protocol runs on a Proof-of-Stake consensus algorithm called Nightshade and relies on its native token called NEAR. From this blockchain-pinned platform, dApps become usable on the ordinary web.

Past Performance of NEAR

NEAR is presently trading at around $6.8, adding 22 percent on the last day of trading.

Nonetheless, NEAR/USDT is ranging inside a $1.24 zone with identifiable caps at $5.56 and $7.32 since today’s open.

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Keeping bulls going is the uptick in trading volumes which are up 58 percent to $292 million.

Day-Ahead and What to Expect

NEAR/USDT technical analysis points to strength.

Prices are tearing higher with rising trading volumes after a brief period of consolidation.

Overly, NEAR/USDT prices are bottoming up after dropping nearly 50 percent from Q1 2021 peaks.

NEAR/USDT Technical Analysis

NEAR Price Daily Chart for May 15

The uptrend is solid. NEAR bulls are unquestionably in the driving seat.

With NEAR bars aligning along the upper BB in a breakout above April 2021 H2 highs, every dip above $6 may technically be a loading opportunity.

A close above $6—Q1 2021 highs—could see buyers drive NEAR to $7.5—the 1.618 Fibonacci extension level.

SushiSwap (SUSHI)

The Uniswap hard fork enables trustless swapping of tokens, locking in $4.72 billion in liquidity. SUSHI is its governance token.

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Past Performance of SUSHI

As per candlestick arrangements and SUSHI technical analysis in the daily chart, SUSHI is trading within a bullish breakout pattern.

Prices are up roughly 19 percent versus USD and BTC.

Buoying SUSHI bulls is a spike in participation, rising 47percent to $1.2 billion on the last trading day.

Day-Ahead and what to Expect

Aforementioned, SUSHI is trading at around April 2021 highs in a bullish breakout pattern.

Additionally, the middle BB is slanting positively, pointing to demand in lower time frames.

Besides, the May 14 bull bar is with high participation suggesting a possible trend continuation that may lift SUSHI higher in the days ahead.

SUSHI/USDT Technical Analysis

SUSHI Price Daily Chart for May 15

Technically, in a bullish breakout pattern and buy trend continuation of Q1 2021, SUSHI buyers are in control.

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As such, every low might be a loading opportunity.

Therefore, a conclusive close above April 2021 highs and $17 form a launching ground for $23—March 2021 highs—in the short-term.

Dalmas Ngetich
Dalmas Ngetich

Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.