Aave, Binance Coin, SushiSwap Price Movement Analysis for 5th April, 2021

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Aave tried to reach the range highs of $421. Binance Coin has approached its former peak of $356, and the token’s market exploration will be thrilling once more. SushiSwap will need to protect $14.3 in the coming days if it is to rebound up towards $17.

Aave [AAVE]

For the past six weeks, AAVE has been traded within a band (blue), and at the time of writing had found support at $386 and was pushing back towards the range tops at $421. The Awesome Oscillator (orange) indicated a bearish twin peak configuration, with AAVE pulling back from $409 to retest $386.

The OBV shows an uptrend in the last two weeks, meaning that purchasing volume was steadily greater than selling volume, and AAVE has recovered from the range lows of $300 on the basis of this growing demand.

AAVE can stabilise for a few days under resistance at $421. Alternatively, a split of $421 and retest will be a buying chance with a goal of $500.

 

Binance Coin [BNB]

Binance Coin, Aave, SushiSwap Price Analysis: 05 April

Source: BNB/USDT on TradingView

Binance Coin fell into the $300-$330 demand range before rebounding. The RSI remained above neutral 50, indicating that the momentum has not turned in favour of the bears. Trading activity has been trending lower over the last few days.

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This must change if BNB is to break out over $350 and join price exploration. Using Fibonacci extension levels, $457 is a take-profit amount for BNB in the coming days or weeks. If the price falls below $300, BNB will fall down to $277.

SushiSwap [SUSHI]

Binance Coin, Aave, SushiSwap Price Analysis: 05 April

Source: SUSHI/USDT on TradingView

SUSHI shaped a rising wedge (orange), causing it to fall back to support at $14.3. It has since bounced off this support stage but has not reached a higher high.

Over the last week, the price established a falling triangle pattern, and a step above either trendline would possibly create a strong move in that direction. As a result, a break below $14.3 or a rise over $15.65 will validate SUSHI’s next leap.

The MACD displayed poor bearish momentum behind SUSHI, and the Chaikin Money Flow descended below +0.05, indicating buyer-seller equilibrium.

 

 

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