FTX Token, SushiSwap, Tezos Price Movement Analysis for 17th April, 2021

Spread the love

 330 Interactions,  2 today

FTX Token is expected to break out of a falling triangle, while SUSHI which fall below $15.8 and into another area of support at $15.1. Tezos could break south from a growing wedge trend and drop back to $6.18 support.

Meanwhile, BTC was valued at $60,449, with a $3.9 trillion 24-hour trading rate.

FTX Token [FTT]

Source: FTT/USD, TradingView

After making lower highs and steady lows over the last few days, the price of FTX Token shaped a descending triangle. A fall below the bottom trendline and the 50-SMA (blue) was supposed to bring the price down to $49.1-support.

The 200-SMA (green), which was trading above $43, could also provide some relief in the event of a prolonged slowdown, but this was impossible. The price was currently sponsored on the hourly timeline by the 200-SMA, which formed the basis of the bottom trendline.

This indicated that the bulls would be able to keep $50 for a few more sessions before the collapse. The Awesome Oscillator dropped below the half-way point, indicating that momentum was on the sellers’ side. The OBV has also been slowly declining as some selling has been noticed in the industry.

RECOMMENDED READ:  Find out which of these alts offers double-digit returns: FIL, HOT, RUNE, VGX, CAKE, MANA, SUSHI, and AR?

SushiSwap [SUSHI]

Source: SUSHI/USD, TradingView

SushiSwap was forced into the 4-hour chart after a breakout over the $15 mark, but losses were limited at the upper limit of $18.3. At $15.8, there was some encouragement, but the on-chain metrics favoured the sellers in the short term.

In a low volatility market, the Squeeze Sentiment Indicator shows increasing bearish momentum. As a result, even though the press-time assistance failed, sharp losses were not anticipated. Meanwhile, the Chaikin Money Flow indicator revealed that capital inflows had been declining over the previous five days.

Tezos [XTZ]

Source: XTZ/USD, TradingView

On the 4-hour timeframe, a rebound from the $6.18 support moved Tezos higher, but a sharp sloping bottom trendline formed an increasing wedge pattern. In reality, a break from the routine was predicted to occur in the coming sessions.

After the MACD showed a bearish divergence, the price fell into the $6.18 support. The signal line had gained some ground on the fast-moving line at the time of publication. The RSI remained south of the overbought range, and a drop below 40 could indicate more short-term losses. In the event of a breakdown, support at $6.18 will come under renewed scrutiny.

RECOMMENDED READ:  Uniswap Price Movement Analysis for 27th April, 2021

Leave a Reply

Contact Us