Flamingo (FLM) and SushiSwap (SUSHI) Technical Analysis: Recovery

Flamingo and FLM prices may sink further as long as bears cap bulls below $0.60. On the other hand, SUSHI and SushiSwap bulls are printing higher above $5.

Flamingo (FLM)

The interoperable DeFi platform uses the FLM token for governance.

Past Performance of FLM

The Flamingo token is dropping on increasing sell pressure. In a bear breakout pattern reading from the FLM technical analysis of the daily chart, sellers are in pole position in upcoming sessions.

Day-Ahead and what to Expect

Overall, the Flamingo coin trails the greenback, printing lower lows along the lower BB.

The candlestick arrangement in the daily chart shows that bears have the upper hand provided FLMUSDT prices trend below $0.60.

At new November 2021 lows, every high may be entries for aggressive Flamingo crypto sellers targeting September 2021 lows of around $0.40.

Flamingo Technical Analysis

With a market-wide contraction, Flamingo prices are dropping, heaping pressure on FLM crypto bulls.

When writing, sellers are in the driving seat, and the downward momentum is building.

Notably, the FLM coin is breaking below the bull flag, signaling weakness.

Accordingly, aggressive FLM coin traders may search for entries below $0.60 with immediate targets at $0.40.

SushiSwap

The multichain AMM-DEX uses SUSHI for governance.

Past Performance of SUSHI

The SushiSwap token is sinking under the weight of sellers reading from the SUSHI technical analysis of the daily chart.

Day-Ahead and what to Expect

Technically, the SUSHI coin is bearish, and buyers are struggling in the face of rampant bulls. From the daily chart, SUSHIUSDT might likely drop lower, building on last week’s losses. Therefore, the trajectory depends on the reaction at $5—a multi-week support level in the short term.

SushiSwap Technical Analysis

There are hints of weakness across the board, and losses are more pronounced in SushiSwap.

Considering losses of last week and the failure of bulls to plug the drain, every high below $10 might be entries for SUSHI crypto

traders targeting $5—and lower.

Notice that the downtrend has high participation levels and the momentum is defined.

A close above $8.5 might cancel the uptrend– further highlighting the significance of $5 as a reaction point.

Even so, there is a silver lining. The rejection of lower prices over the weekend and the three-bar reversal pattern may swing to favor bulls. This is provided prices trend above $5.

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