CVC Price and SUSHI Price Explode Aiming for New 2020-highs

CVC price is up by more than 50% in the past 24 hours after another massive price explosion without any real explanation. The last time the digital asset had a massive pump was on November 9 when it went from a low of $0.06 to a high of $0.142 following the Coinbase listing announcement.

Similarly, Sushi price jumped by 20% today and another 20% yesterday. The digital asset has been inside a robust daily uptrend since November 5 and has seen a 400% rally.

Civic Price Analysis: Technical Indicators

Civic was consolidating from the 2020-high at $0.1725, losing the 12-EMA on the daily chart but defending the 26-EMA.

Clearly, the daily chart is back in favor of the bulls which have pushed Civic price above the 12-EMA for the first time in two weeks and are eying up the 2020-high at $0.1725. The RSI has reached overextended levels again while the MACD turned bullish again for the first time since November 5.

CVC/USD daily chart – TradingView

There seems to be very little resistance in the way of Civic price. The most recent move is also accompanied by a massive surge in trading volume which indicates it is a strong bullish rally.

Most technicals are now indicating investors to buy on the daily and weekly charts but show a bit of weakness in the short-term as CVC price is definitely overextended.

Sushi Price Analysis: SUSHI seems unstoppable

Sushi price is up by 400% in less than a month. A bull run that was sparked by the end of Uniswap airdrop and seems to have no end now.

SUSHI/USD 4-hour chart – TradingView

On the 4-hour chart, Sushi established a descending parallel channel that had a notable breakout on December 1, jumping 20% in just 4 hours. Several hours later, the digital asset suffered somewhat of a flash crash plummeting from $1.93 towards $1.55 before instantly recovering.

SUSHI/USD daily chart – TradingView

On the daily chart, Sushi price seems to be facing practically no resistance until the high of $2.72 established on September 12. Above this level, Sushi is free to run to its all-time high above $10. Since November 11, the trading volume of Sushi has increased significantly, which indicates the rally is not only real but extremely strong.

The In/Out of the Money Around Price shows only one major resistance area between $2.32 and $2.38 where 1.37 million SUSHI were purchased by 374 addresses. A breakout above this point would very easily push Sushi price towards $2.72. 

However, it seems that there is also very little support on the way down. This is often the case after major rallies that happen quickly like the one Sushi just experienced.

Make sure to join our Trading Group on Telegram for more awesome tips!