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 price

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 price

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 price

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.

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