84% of SUSHI addresses are at a loss – How can you turn things around?

SushiSwap continues to claim its position as the 10th largest DeFi protocol, however it is important to note that the protocol’s investors are continually losing money and are now responding as predicted.

November is full of difficulties

SUSHI became strong in early November but only lasted 3 days. On the fourth day, this altcoin began to decline and has not stopped since. At the time of this writing, SUSHI is down 41% and is trading at $ 7.7.

84 of SUSHI addresses are at a loss How

SUSHI price promotion | Source: TradingView

This makes it difficult for investors, as more than 84% of all addresses are currently lost.

1638348761 696 84 of SUSHI addresses are at a loss How

Net profit / loss | Source: Santiment

These are the lowest values ​​ever since it was introduced in August 2020. In addition, new investors who joined this month have only lost.

1638348762 820 84 of SUSHI addresses are at a loss How

Profitability from SUSHI investors | Source: Intotheblock

This leads many investors to sell SUSHI because the asset is not profitable. This sentiment is only found among retail investors, however, as whales are not showing any noticeable movement.

However, the downward trend of SUSHI also affects the Total Value Locked (TVL). That month, TVL fell 34% and its market value went negative for the first time in almost 6 months.

SUSHI

Market value of SUSHI | Source: Santiment

A glimmer of hope

However, the downtrend appears to have ended yesterday as SUSHI gained 13% and TVL also rebounded $ 1.4 billion.

SUSHI

TVL on SushiSwap | Source: DeFi Lama

Additionally, according to ADX, the strength of the active trend (downtrend) has reached a saturation point and now, if it falls back below 25, a trend reversal is likely.

The descending red bars show the pressure of the bears and the MACD rising again shows the same conclusion. In the future, this altcoin could trade on the signals of bitcoin due to its 83% correlation with the crypto king.

SUSHI

Correlation between SUSHI and BTC | Source: Intotheblock

Currently, the $ 9.1 level is the critical resistance. Once that level flips over and tests it as a support, the upside odds improve.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

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According to AMBCrypto

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84% of SUSHI addresses are at a loss – How can you turn things around?

SushiSwap continues to claim its position as the 10th largest DeFi protocol, however it is important to note that the protocol’s investors are continually losing money and are now responding as predicted.

November is full of difficulties

SUSHI became strong in early November but only lasted 3 days. On the fourth day, this altcoin began to decline and has not stopped since. At the time of this writing, SUSHI is down 41% and is trading at $ 7.7.

84 of SUSHI addresses are at a loss How

SUSHI price promotion | Source: TradingView

This makes it difficult for investors, as more than 84% of all addresses are currently lost.

1638348761 696 84 of SUSHI addresses are at a loss How

Net profit / loss | Source: Santiment

These are the lowest values ​​ever since it was introduced in August 2020. In addition, new investors who joined this month have only lost.

1638348762 820 84 of SUSHI addresses are at a loss How

Profitability from SUSHI investors | Source: Intotheblock

This leads many investors to sell SUSHI because the asset is not profitable. This sentiment is only found among retail investors, however, as whales are not showing any noticeable movement.

However, the downward trend of SUSHI also affects the Total Value Locked (TVL). That month, TVL fell 34% and its market value went negative for the first time in almost 6 months.

SUSHI

Market value of SUSHI | Source: Santiment

A glimmer of hope

However, the downtrend appears to have ended yesterday as SUSHI gained 13% and TVL also rebounded $ 1.4 billion.

SUSHI

TVL on SushiSwap | Source: DeFi Lama

Additionally, according to ADX, the strength of the active trend (downtrend) has reached a saturation point and now, if it falls back below 25, a trend reversal is likely.

The descending red bars show the pressure of the bears and the MACD rising again shows the same conclusion. In the future, this altcoin could trade on the signals of bitcoin due to its 83% correlation with the crypto king.

SUSHI

Correlation between SUSHI and BTC | Source: Intotheblock

Currently, the $ 9.1 level is the critical resistance. Once that level flips over and tests it as a support, the upside odds improve.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

At home at home

According to AMBCrypto

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

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