SushiSwap launched the “Sushi Legal Structure” with a community proposal that plans to set up an association or foundation for Sushi DAO to provide clarity regarding the rights and obligations of token holders and contributors and mitigate future risks. This development could be one of the important factors in driving Sushi’s future growth.
Additionally, Sushi’s new legal structure will be based on a proposal approved by the community from March 20, which states that an association or foundation is needed to help provide legal clarity and administrative support for SushiDAO.
From the technical point of view, it is seen from the 3-day price data below that it has formed a falling trend structure with the falling peaks since the ath level and experienced a loss of value close to 88%.
It is trying to hold on to the same region on December 2020, where it started the rise earlier by forming a support in the 2.4 and 2.9 dollars region. On the other hand, RSI and MACD indicators are also in the oversold region and continue to move at the bottom levels.
If there is no daily close below this zone, we can see an upward movement with the correction movement of the bearish reaction to the 4 dollar zone. There is also a falling wedge formation structure. It is important to break this structure, and there is an MSB area in the same breakout region (at the level of 6 dollars) and a bearish order block above it in the region of 10 dollars.
Gains above this range and closings will allow us to see that the trend continues in the upward direction. Otherwise, in other negative market conditions, if the $ 2.4 support is broken, the specified support zones can be followed.
