DEX SushiSwap unveiled a roadmap for its future development, promising to “Swap Everything”. The announcement particularly focused on their new Route Processor technology, and how it will impact users.

SushiSwap also mentioned several other features, like a “Native DEX” ecosystem and community outreach opportunities.

SushiSwap’s New Direction

Decentralized exchange (DEX) SushiSwap recently unveiled its roadmap for future development. With two words: Swap Everything, the firm outlined a vision for next-level liquidity access.

“The recently released Route Processor is not just an upgrade – it’s leveling up our multi-chain capabilities x10. It scours the market to find the best routes, delivering top-tier liquidity, competitive rates and access to more tokens than ever. Our swap and aggregation stack is unmatched… with liquidity from hundreds of sources and deepest pools,” it claimed.

Read More: How To Use SushiSwap: A Step-by-Step Guide

SushiSwap may need a major upgrade to regain its status as a prominent DEX. Its SUSHI token hit bottom this June, and this trend continued with further bearish signals as community members questioned the platform’s technical weaknesses.

The platform attempted to reverse this course in September when it released Dojo, a meme coin launchpad. Dojo’s main focus was on preventing pump-and-dump schemes in an already crowded meme coin market, but SUSHI’s price barely budged. A new technical refresh could be the solution to revitalize long-term interest in the platform.

Moreover, despite the launch of the new roadmap, the SUSHI token has been struggling. In the past 24 hours, it is down by over 5%, currently trading at $0.7581.

SushiSwap’s roadmap paid particular attention to the Route Processor. It aggregates liquidity sources from 35 different blockchains and builds upon the DEX platform’s existing infrastructure.

The announcement boasted of increased user convenience, options, and decreased costs due to these upgrades, but it also discussed several other points of interest.

Read More: SushiSwap (SUSHI) Price Prediction 2024/2025/2030

In particular, SushiSwap has also been working on an ecosystem of “Native DEXs,” creating integrated new platforms that cater to specific networks. SushiSwap hopes to onboard new users by offering a broad range of convenient services to customers on these affiliated platforms.

Bitcoin price extended gains above the $69,200 resistance zone. BTC is now correcting gains and trading near the $67,500 pivot level.

• Bitcoin struggled to test the $70,000 resistance zone and corrected some gains.
• The price is trading below $68,500 and the 100 hourly Simple moving average.
• There was a break below key contracting triangle with support at $68,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start a fresh increase unless there is a close below the $66,500 zone.

Bitcoin Price Dips To Support

Bitcoin price remained supported above the $66,500 zone. BTC started another minor increase above the $68,500 resistance zone. The bulls were able to clear the $69,200 barrier.

However, there was no test of the $70,000 resistance zone. A high was formed near $69,428 and the price is now correcting gains. There was a minor decline below the $68,000 level. There was a break below key contracting triangle with support at $68,500 on the hourly chart of the BTC/USD pair.

The pair tested the $66,500 support. It is now consolidating above the 23.6% Fib retracement level of the downward move from the $69,428 swing high to the $66,564 low.

Bitcoin price is now trading below $68,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $68,000 level or the 50% Fib retracement level of the downward move from the $69,428 swing high to the $66,564 low.

The first key resistance is near the $68,750 level. A clear move above the $68,750 resistance might send the price higher. The next key resistance could be $69,200. A close above the $69,200 resistance might initiate more gains. In the stated case, the price could rise and test the $70,000 resistance level. Any more gains might send the price toward the $70,500 resistance level.

More Losses In BTC?

If Bitcoin fails to rise above the $68,000 resistance zone, it could start another decline. Immediate support on the downside is near the $67,000 level.

The first major support is near the $66,800 level. The next support is now near the $66,500 zone. Any more losses might send the price toward the $65,500 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $66,800, followed by $66,500.

Major Resistance Levels – $68,000, and $68,500.

For the first time since September 27, Ethereum has surged past the $2,700 mark and is showing strong signs of maintaining its upward momentum. About ten days ago, ETH dropped below $2,400, sparking speculation that the cryptocurrency might struggle to break out again.

However, over the past seven days, ETH has surpassed key resistance levels. In this on-chain analysis, BeInCrypto reveals how this upward momentum could drive the price even higher.

Ethereum Sees Reduced Selling Pressure

One indicator fueling this prediction is the Ethereum Exchange Netflow, which shows the amount of coins flowing in and out of exchanges. According to CryptoQuant, market participants have taken 29,378 ETH off exchanges as of this writing.  

From a spot trading perspective, high values typically signal increased selling pressure. However, with approximately $80 million being removed, it suggests that ETH may not face significant selling pressure in the near term.

On the derivatives side, the decline points to low volatility, indicating that traders with open positions are less likely to face liquidations. When combined, this current condition could be bullish for Ethereum’s price.

Read more: Ethereum ETF Explained: What It Is and How It Works

Another metric supporting the bullish outlook is the number of addresses holding ETH valued at $1 million or more. When this metric rises, it indicates that HODLers are accumulating more coins, reflecting bullish behavior. Conversely, a decline suggests that long-term holders are cashing out, typically signaling bearish sentiment

Based on Glassnode’s data, the number of addresses holding ETH worth $1 million and above has increased, suggesting that Ethereum’s price could avoid going through another drawdown.

Crypto analyst and founder of MN Consultancy Michaël van de Poppe shares a similar view. However, in his post, van de Poppe noted that ETH needs to rise above $2,770 to have any chance of surpassing $3,000.

“Ethereum might finally reverse. Breaking through the crucial resistance at $2,770 would be great. If that happens, the next target is $3,200, ” the analyst emphasized.

ETH Price Prediction: Bulls Must Defend $2,689 Support

A look at the daily chart shows that Ethereum’s price has broken out of a symmetrical triangle. For context, a symmetrical triangle is a chart pattern defined by two converging trendlines that connect a series of sequential peaks and troughs.

Usually, when an asset’s price breaks below the triangle, the asset’s price tends to fall further. For ETH, it is the other way around, suggesting that the value could continue climbing. But for that to happen, bulls have to defend the $2.689 support

Beyond that, buying pressure needs to increase so the price can climb above the resistance at $2,989. If that is the case, ETH’s price could rally to $3,316. 

Read more: How to Buy Ethereum (ETH) and Everything You Need to Know

However, this thesis could be rendered null and void if ETH falls below the aforementioned support line. In that scenario, the price could tumble to $2,471.