EOS, IOTA, SUSHI Price Movement Analysis for 11th June, 2021

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Even though Bitcoin was trading at $36,500 at the time of publication, selling pressure appeared to overwhelm optimistic optimism in the altcoin market. EOS, IOTA, and SUSHI all went below their 20-SMAs (red) and approached support lines on their individual charts.

EOS

IOTA briefly recaptured its 23.6 percent Fibonacci level ($1.45) from the bears, but any additional gains were thwarted by the 50-SMA (yellow). There was assistance available at the aforementioned level, and properly regaining this region would reduce the likelihood of a return to $0.93. However, its technicals have shifted slightly to the negative side, and IOTA may continue to trade below its overhead barrier in the coming days.

The MACD line was overlaid over the Signal line and indicated neutrality; however, the same was not true below the half-line. While the Awesome Oscillator showed some positive momentum, it was insufficient to suggest a move over the 50-SMA just yet.

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IOTA

Source: IOTA/USD, TradingView

IOTA briefly recaptured its 23.6 percent Fibonacci level ($1.45) from the bears, but any additional gains were thwarted by the 50-SMA (yellow). There was assistance available at the aforementioned level, and properly regaining this region would reduce the likelihood of a return to $0.93. However, its technicals have shifted slightly to the negative side, and IOTA may continue to trade below its overhead barrier in the coming days.

The MACD line was overlaid over the Signal line and indicated neutrality; however, the same was not true below the half-line. While the Awesome Oscillator showed some positive momentum, it was insufficient to suggest a move over the 50-SMA just yet.

SushiSwap [SUSHI]

Source: SUSHI/USD, TradingView

SushiSwap’s losses appeared to be more severe than those of its peers EOS and IOTA, since it was down about 8% from yesterday’s pricing. The Supertrend Indicator flashed a sell signal, and a stop-loss was put slightly below the $11 mark, near its 50-SMA (yellow).

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Because the RSI was near to the oversold level, a reversal was possible, but gains would most likely be restricted around the $10.2-resistance. A breach over $11 and its 50-day simple moving average (SMA) would be a more long-term aim for bulls, triggering a run towards $13.5.

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