$SUSHI — Correcting Within an Uptrend: Watching the Breakout Path 🔎📈

[theSignalyst]

SUSHI is trending higher on the higher timeframe (blue rising structure), while price has been in a descending corrective channel since August (red). We just bounced, but the next clean signal likely forms between the red supply band (~$0.72–0.75) and the blue trendline support.

Key levels

Support: Blue trendline / ~$0.64–0.66 (first reaction zone)

Resistance: $0.72–0.75 (red supply block) and the red channel top

Confluence

Uptrend + corrective pullback = classic continuation risk/reward if the red channel breaks to the upside or if a higher-low forms at the blue rail.

Scenarios

Bullish : Reject from $0.64–0.66 and/or break & close above the channel top / $0.75 → momentum toward $0.85–0.90, with scope to extend if trend accelerates.

Bearish : Lose the blue rail on a daily close → deeper correction before bulls try again; invalidates the immediate continuation setup.

Plan
I’ll look for longs on confirmation: (1) a higher-low off the blue rail, or (2) a break–retest above $0.75 to trade the impulse leg.

Do you prefer buying the trendline reaction or waiting for the breakout over $0.75 for momentum entry?

️ Disclaimer: Not financial advice. Do your own research and manage risk.

All Strategies Are Good; If Managed Properly!
~Richard Nasr