The cryptocurrency market has witnessed a powerful rally in SushiSwap’s native token, SUSHI, as it breaks out from a long-standing resistance level and eyes a bold new target. After a prolonged consolidation, SUSHI has surged by nearly 100% in just one week, reaching a fresh yearly high of $2.82 on December 9. While the price pulled back shortly after, it quickly returned to validate a critical support zone—setting the stage for a potential next leg upward.
This breakout is more than just a short-term price spike—it represents a structural shift in market sentiment. With key technical indicators flashing bullish signals and long-term resistance now converted into support, traders and investors are asking: Has SUSHI truly bottomed out, and could it climb toward $4.45?
Let’s dive into the technical structure, chart patterns, and momentum indicators shaping SUSHI’s next move.
SUSHI Breaks Multi-Year Resistance at $1.95
On the weekly chart, SUSHI’s price trajectory reveals a textbook breakout after months of consolidation. After bottoming out at $0.446 in August, the token began forming higher lows, culminating in a decisive move above the $1.95 resistance—a level that had held firm for 945 days.
This resistance was not just psychological; it was a major technical barrier tested repeatedly since early 2022. Its breach marks one of the most significant technical events for SUSHI this year.
👉 Discover how breakout patterns can signal major price moves before they happen.
Now, the market is watching closely as SUSHI retests the $1.95 zone—not as resistance, but as newly established support. This retest is crucial: if price holds firm and bounces, it confirms the validity of the breakout and strengthens the bullish case.
Currently, SUSHI is hovering near this level, showing signs of stabilization. A successful hold here could pave the way for a rally toward the next major resistance at $4.45—a target derived from long-term Fibonacci extensions and historical price structure.
Bullish Momentum Confirmed by Key Indicators
Technical indicators on the weekly timeframe are reinforcing the bullish narrative:
- The Relative Strength Index (RSI) is trending upward and remains above 50, indicating strong buying pressure.
- The MACD (Moving Average Convergence Divergence) has crossed into positive territory and continues to expand, signaling accelerating momentum.
Together, these tools suggest that the rally is not yet overbought or exhausted—leaving room for further upside if demand persists.
Is SUSHI in Wave Three of a Larger Bull Run?
Zooming into the daily chart, a compelling Elliott Wave pattern emerges. SUSHI appears to be in Wave 3 of a five-wave impulse structure—a phase historically known for strong, parabolic price increases.
Wave 3 has already extended beyond initial expectations, reflecting growing investor enthusiasm. The recent pullback may represent Wave 4, a corrective phase that often retraces between 38.2% and 50% of the prior advance.
Notably, this correction found support precisely at the former resistance-turned-support level of $1.95—adding confluence to the technical setup.
If this wave count holds, Wave 5 could propel SUSHI toward $4.45 or higher. That level aligns with the 1.618 Fibonacci extension of the initial impulse move and represents a logical profit-taking zone for long-term traders.
However, it's important to note that technical indicators on the daily timeframe are currently neutral. While RSI and MACD remain above their bullish thresholds, both have begun to flatten or decline slightly—suggesting short-term exhaustion or consolidation.
This does not invalidate the bullish trend but implies that upward momentum may pause before resuming.
Short-Term Outlook: Bounce Building on Ascending Support
On the six-hour chart, SUSHI has been trading within a well-defined ascending support trend line since November 21. Each dip has found buyers at progressively higher levels—a classic sign of accumulation and bullish control.
The most recent decline touched this trend line and triggered a short-term bounce. More importantly, the RSI rebounded sharply from the 50 level, which is widely regarded as a trend continuation signal in technical analysis.
When RSI bounces from 50 during an uptrend, it often indicates that selling pressure has been absorbed and buyers are regaining control. This increases the probability that the recent dip marked a short-term bottom.
👉 Learn how RSI and trend lines work together to predict high-probability reversals.
Given this alignment—trend line support, RSI bounce, and retest of $1.95—the most likely scenario is that SUSHI has completed its corrective phase and is preparing for another leg up.
Key Levels to Watch: $1.95 Support vs. $4.45 Target
The coming days will be decisive for SUSHI’s direction. Two key levels will determine whether the bullish thesis remains intact:
- $1.95**: Must hold as support. A sustained break below this level would invalidate the breakout and open the door to a deeper correction toward **$1.20, the next major support based on prior swing lows.
- $4.45: The primary upside target. Reaching this level would represent a gain of over 50% from current prices and confirm a full-fledged bull run.
Traders should monitor volume and momentum during any breakout attempts. A high-volume surge above $3.00 would be an early confirmation of strength.
Frequently Asked Questions (FAQ)
Q: What caused SUSHI’s recent price surge?
A: The surge was driven by a combination of technical breakout momentum, improved market sentiment across decentralized finance (DeFi), and increased trading volume on major exchanges.
Q: Is SUSHI a good long-term investment?
A: While past performance doesn’t guarantee future results, SUSHI’s fundamental position in the DeFi ecosystem—particularly in decentralized exchange (DEX) liquidity and governance—makes it a notable asset for investors interested in blockchain-based financial innovation.
Q: What happens if SUSHI breaks below $1.95?
A: A confirmed breakdown below $1.95 would suggest the breakout failed, potentially leading to a drop toward $1.20. Traders should watch for closing prices below this level on daily charts for confirmation.
Q: How does Elliott Wave Theory apply to SUSHI?
A: Elliott Wave identifies recurring price patterns driven by investor psychology. In SUSHI’s case, the current structure suggests it's in Wave 3 or early Wave 4 of a five-wave bullish sequence—offering insight into potential future targets.
Q: Can SUSHI reach $5?
A: While $4.45 is the next major resistance, reaching $5 would require sustained bullish momentum, broader crypto market strength, and likely new catalysts such as protocol upgrades or increased user adoption.
Q: Where can I track SUSHI’s price in real time?
A: You can monitor live price action, order books, and trading volume on major crypto platforms with advanced charting tools.
👉 Access real-time SUSHI/USDT charts and trading tools to stay ahead of market moves.
Final Thoughts
SUSHI’s breakout above $1.95 marks a pivotal moment in its 2025 price journey. With long-term resistance now acting as support, bullish technical patterns in place, and momentum indicators favoring continuation, the path toward $4.45 appears increasingly viable.
That said, crypto markets remain volatile. A break below $1.95 would quickly shift sentiment and could trigger further selling.
For now, all eyes are on how SUSHI defends its newly won ground—and whether it can turn this breakout into a sustained bull run.
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