SUSHIUSDT: Descending Triangle or Breakout Setup?

SUSHI is consolidating in a descending triangle, a pattern that often leans bearish. However, the context of the broader market may favor a bullish breakout instead.
Observation: The consistent higher volume at recent supports suggests buyers are still active.

Volume Dynamics: A steady decline in volume aligns with consolidation, but a decisive move—confirmed by volume expansion—is critical.
Question: Do you think the declining volume supports the idea of a breakout, or does it suggest bearish exhaustion?

Fibonacci Levels: The Fibonacci retracement zones highlight key levels to watch for both bullish and bearish scenarios. The price is currently hovering near mid-level retracement, a pivotal area for decision-making.

Indicators:

RSI: Near neutral, neither overbought nor oversold, leaving room for price action in either direction.
MACD: Signs of flattening momentum but no clear crossover yet. Could the next bar indicate a direction?
ADX/DMI: Lack of a strong trend hints that a breakout will define the next phase.
Trade Plan:

Bullish Scenario: A break above the descending resistance line, backed by increasing volume, could push the price toward the next resistance zones.
Bearish Scenario: A breakdown below support may trigger a sharp move lower toward prior structural lows.
Risk Management: Stop-loss near recent support ensures a well-balanced risk-reward setup.


Questions:
Is the descending triangle pattern valid, or do you see this as a potential reversal setup?
How do you use volume spikes to confirm breakouts in similar charts?
Are Fibonacci retracement levels a strong confluence for your entries and exits?


Conclusion:
SUSHI is at a decision point. With price compressing in a tight range, a breakout or breakdown is imminent. A decisive move will likely set the tone for the next significant trend.

Watch the live analysis video for deeper insights, and drop your thoughts below. Would you trade this setup? Let’s discuss your strategy!