The SUSHI price chart displays the formation of flag patterns in the weekly time frame chart. The price action has been strictly following this pattern and has recently caused a 60% free-fall. The bulls will resume their buying by obtaining support from the falling trendline, indicating a reasonable possibility of bullish reversal. Key technical points:\u00a0 The SUSHI price chart shows several lower price rejection candles at $4.5 support.\u00a0 The weekly-20 MA line provides strong resistance to SUSHI price The intraday trading volume in SUSHI\/USD is $209.4 Million, indicating a 34.5% fall. Source-\u00a0Tradingview In our previous coverage of\u00a0SUSHI\u00a0technical analysis, the recovery rally in SUSHI price challenged a combined resistance of $9.8 and the resistance trendline of the flag pattern. The coin price experienced strong supply from these overhead resistances and was rejected with a weekly-evening star pattern. This renewed selling pressure plummeted the coin price to the support trendline($4.5), indicating a 50% devaluation. The crucial EMAs(20, 50, 100, and 200) indicate a bearish alignment in the daily time frame chart. Moreover, a negative crossover from the 20 and 50 EMA accelerates the ongoing selling. The weekly-Relative Strength index(34) slopes show a slight bullish divergence in the bearish territory. Will SUSHI Bulls Reclaim The $5 Mark? Source-Tradingview On January 21st, the SUSHI price nosedived below the $5 support. However, the coin buyers still defended the support trendline displaying multiple lower price rejection candles. The coin price could pull back to retest this flipped resistance($5); however, under the influence of the flag pattern price shows a high possibility to breach this resistance. The Daily-Stochastic RSI provides a bullish crossover of the K and D line in the oversold region, indicating the price could start to rally. Resistance levels- $5, $6.2 Support levels- $4 and $3 The post SUSHI Price Prediction: Flag Pattern Hints 50% Recovery In SUSHI Price appeared first on CoinGape.