Sushiswap Cracks 24% Gains As Market Rebounds; Is This A Fakeout?

SUSHI price shows real relief signs after a long while, as the price could be set to retest at $2.5 if this trend needs to be sustained. SUSHI tops the crypto price as it cracks over 24% gain in less than 24 hours. The price of SUSHI shows bullish signs as the price reclaims the 50 Exponential Moving Average (EMA) with good volume. The price of Sushiswap (SUSHI) has recently struggled to reclaim its bullish strength against tether (USDT), rallying from a low of $0.5 to $20. The crypto market faced a new setback as Bitcoin’s (BTC) price dropped from $19,000 to $18,100 as the Consumer Price Index (CPI) suggested an increase in inflation, affecting the price of BTC negatively, with altcoins affected. Still, the likes of Sushiswap (SUSHI) have shown incredible strength. (Data from Binance) Related Reading: Dogecoin Can Regain Losses If DOGE Extricates Itself From This Level Sushiswap (SUSHI) Price Analysis On The Weekly Chart After seeing the market drop instantly with the CPI news, the market rebounded as what looked like a short squeeze, with Bitcoin (BTC) rallying from a low of $18,200 with what seems to be a demand zone for most buyers and institutions. The price bounce has been a catalyst for most altcoins, including SUSHI, producing over 24% gains in less than 24 hours of movement. It’s still yet to be seen if this bounce is a fakeout or will be sustained as Bitcoin Dominance continues to rise; this will impact t...