Coin, IOTA, Sushiswap Price Movement Analysis for 13th March, 2021

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On the basis of the positive signs, CRO attempted to retrace the 38.2% Fibonacci retracement stage. IOTA travelled in a horizontal channel, while SUSHI displayed signs of fatigue from record peaks. Coin [CRO], guy. Coin has fallen by 7 percent in the last 24 hours and has sunk below 38.2 percent Fibonacci. However, the OBV reflected a healthy purchase pressure as the bulls tried to retake some lost territory. The Stochastic RSI showed a bullish crossover in the oversold area and supported a positive short-term result.

Moving above the 50 percent Fibonacci threshold would entail a sharp pick-up in trading rates, which was modest at the time of writing. In the other hand, the presence of sellers on the market could counteract a step below the level of 23.6 per cent of Fibonacci.


Source: IOTA/USD, TradingView

Gains in the last 30 days now amounted to over 14 per cent as IOTA picked up its rebound from just below the $1 mark and rose gradually on the charts. However, the $1.43-$1.23 range provided a horizontal channel for IOTA, an area where prices have been trading for over a week now.

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The Awesome Oscillator revealed a back and forth change of momentum as the price oscillated between the upper and lower trend lines. Momentum had once again sided with the sellers at the time of publication. RSI floated near the 50-point mark and revealed a healthy market. A increase in 24-hour trading rates may provide some visibility into a breakout in either direction.

Sushiswap [SUSHI]

Source: SUSHI/USD, TradingView

Successive long green-bodied candlesticks on Sushiswap’s 4-hour charts mirrored the bullish mood on the market as the stock broke north of $20.41 in resistance and traded at record highs. The MACD line rose high above the Signal line, while the histogram observed the increasing momentum of the bull. Gains were also backed by a 24-hour trading rate uptick of $1.7 billion in press time.

Optimism was reduced by the presence of a doji candlestick in the last trading session. The doji is commonly synonymous with a turnaround and demonstrates indecision on the market. The OBV also dropped, suggesting a dip in the purchasing pressure. A slight pullback could be cushioned at the immediate support mark. Any step lower could challenge the next level of support at $17.2.

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