Sushi price has bounced from the $0.73 daily support, where the point of control (POC) and 0.618 Fibonacci retracement converge. This bullish reaction increases the probability of a continuation toward $0.93.
Summary
- $0.73 Support Zone: Confluence of the point of control and 0.618 Fibonacci retracement.
- Double Bottom Potential: Two retests of support suggest a reversal structure forming.
- Upside Target at $0.93: Next key resistance level if support holds and volume confirms.
Sushi’s (SUSHI) recent price action highlights a strong defense of a key technical zone. The $0.73 level, which combines the point of control and the golden pocket retracement at the 0.618 Fibonacci, has acted as a springboard for a bullish reaction.
From a structural standpoint, the market remains bullish on the daily timeframe, supported by a consistent pattern of higher highs and higher lows. This corrective dip is therefore considered a constructive retest, not a breakdown.
The reaction from this confluence level is particularly important. The point of control reflects the area of highest traded volume, suggesting strong market interest, while the golden pocket retracement is historically one of the most reliable continuation zones. The overlap of these two signals makes $0.73 a critical support to hold for the ongoing uptrend.
Key technical points
- $0.73 Support Zone: Confluence of POC and 0.618 Fibonacci retracement, currently defended by bulls.
- Daily Market Structure: Higher highs and higher lows intact, framing the correction as a higher low.
- Upside Target at $0.93: Holding support sets up a rally toward the next resistance level.
From a technical perspective, the corrective move into $0.73 fits neatly into the broader bullish market structure. Each pullback has so far resulted in the establishment of higher lows, signaling continued demand. The latest bounce suggests traders are still committed to accumulating Sushi at discounted levels, increasing the likelihood of upside continuation.
Momentum indicators also support the bullish case. Price remains above its daily moving averages, and the rejection of lower levels indicates strong absorption of selling pressure. If follow-through buying emerges, a push toward $0.93 resistance becomes the most probable scenario in the near term.
The broader structure for Sushi shows potential for further bullish expansion beyond $0.93 if momentum continues to build. While short-term volatility may remain, the combination of strong support, healthy retracement levels, and consistent higher-timeframe structure keeps the outlook tilted toward the upside.
What to expect in the coming price action
As long as Sushi defends the $0.73 region on daily closes, the bullish market structure remains intact. A rally toward $0.93 is the immediate projection, with the potential for further continuation if volume supports the breakout. Traders should watch for consolidation above support and increasing demand, as these will confirm the validity of the ongoing trend.
