DeFi’s Jolly Float: SushiSwap Upside May Be Mighty Moody’s Silver Lining

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Picture this: In the grand stage of crypto, where fortunes rise and fall faster than opinions on pineapple on pizza, SushiSwap’s price has made a daring escape from its own self-imposed cage-the so-called descending triangle pattern. 🐢➡️🚀

  • Ever since mid-July, SUSHI’s price had been following the path of a particularly optimistic banana peel on the floor-stuck in a downtrend.
  • Now, like a mouse finally figuring out the cheese in the pyramid is at the top, it’s attempted to escape, bypassing the multi-month descending triangle pattern.

According to the old wise scrolls of crypto.news, Sushi (SUSHI) was trading at a rather splendid $0.79, up 2% just yesterday, and flexing a 6.3% gain across the past seven days. Its market cap stood modestly at $153 million-at least for now.

Despite its weekly gains, the token still has that rat-tat-tat of battle with its 62% plunge from its July juiciness, hitting a low of $0.70 several times. Bears must be having a grim time, throwing rocks while whistling “Jingle Bells.”🐻🎵

A spark in the SUSHI bonfire appeared recently with its deployment on HyperEVM. Now, it’s as if SushiSwap has found its new deck chair on the Titanic of the Hyperliquid ecosystem, entertainingly swapping artifacts like never before. This positions SUSHI at the heart of a multi-chain liquidity network that now includes more than just TikToking teens-boasting over 40 supported chains. How cosmopolitan!

The third rabbit out of the apparently financial magician’s hat is the Q3 earnings fairytale. A sudden gust blew earnings up to $2.77 million-I care not whether you believe in magic or not! Compared to a measly $200,000 in the prior quarter, it’s as if the DeFi protocols had suddenly come up with a mighty punchline. Investors seem to be taking notes. 📝

SUSHI price targets 45% upside after invalidating the not-so-hot triangle

In the charming weekly chart, SUSHI had initially been painting a rather gloomy picture with its multi-month descending triangle pattern, quaintly termed in finance circles as forming a technical setup akin to a lineup of lower highs marching towards a horizontal support level. The general consensus was, “Bear market, what bear market?”

SUSHIUSDT Chart

Today, though, SUSHI stepped out from its self-drawn hatch, suggesting the bears might finally lose that incessant grip. The technical sorcerers spotted a golden cross, a charming moment when the 50-day SMA charmingly but strategically crossed above the 200-day SMA-cue the trumpets. Remember this; last time this crossover apparently threw a party, SUSHI chuckled its way up by 120%. 😎

According to those in the business of predicting based on lines and points, the path of least resistance seems to lead towards a magnificent $1.16, drawn by measuring the holy descriptor, “height of the descending triangle,” and projecting it downward from where it broke free. This is a brouhaha away almost 47% from the current charm of the price.

However, as all good fairy tales go, there’s a dragon. Should SUSHI lose its grasp of the $0.75 psychological support level, the proceeds may reroute to another enchanting destination: $0.70, marked by its oh-so-decisive 200-day moving average. And there we say “Game on,” not in the cryptic lingo, but with an emoji – 🎮

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2025-09-10 10:31