Polkadot, Sushiswap, Enjin Coin Price Movement Analysis for 4th September, 2021

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Some altcoins had opposing price fluctuations over the last day. Polkadot continues to trade in a range and broke through its $33.37 support line. Sushiswap fell 3.6 percent and is aiming for the $12.58 immediate support line. Enjin Coin, on the other hand, ascended the chart by a tiny 1.7 percent, trading near its weekly high of $2.20.

Polkadot (DOT)

DOT’s chart showed consolidation, a 0.3 percent fall, and it was trading at $33.25. The altcoin had just fallen below its $33.37 support level, and a further drop might place it below $28.94.

If DOT fails to hold above the $28.94 support level, it will fall to near its weekly low of $25.22.

MACD displayed red bars on its histogram, indicating a price decline.

Awesome Oscillator showed red signal bars in response.

Buying strength, on the other hand, remained positive, with the Relative Strength Index remaining above the 60-mark.

An upturn in DOT’s price action owing to sustained demand, would help push the coin above its multi-month high of $33.25 and topple over the $33.37 and $34.66 resistance marks.

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Sushiswap (SUSHI)

Polkadot, Sushiswap and Enjin Price Analysis: 04 September

SUSHI/USD, TradingView

SUSHI fell 3.6 percent in the last 24 hours and was worth $13.05 at the time. The coin was trading close to its immediate support line of $12.58. SUSHI will be forced to rest on its weekly low of $11.17 if it falls below $12.58.

SUSHI has not dipped below $11.17 in more than three weeks. Its indicators indicated unfavourable price activity. MACD’s histogram showed red bars. Awesome Oscillator showed red signal bars as well.

In contrast, capital inflows remained within the bullish zone as reflected by Chaikin Money Flow. Investors could express increased interest, given the recent development related to Sushiswap’s forthcoming NFT, Shoyu Marketplace.

Enjin Coin (ENJ)

Polkadot, Sushiswap and Enjin Price Analysis: 04 September

ENJ/USD, TradingView

Enjin Coin gained 1.7 percent in the last day and was trading at $2.11. The overhead resistance was $2.20 at the time. It had last reached that level a week ago, making it a one-week high.

Going higher, the altcoin can hit a multi-month high of $2.30 after breaking through the $2.20 price barrier. Price activity was bullish, according to technical indicators. MACD observed expanding green bars on the histogram.

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The Relative Strength Index was at 60 as buying strength resurfaced in the last 24 hours. The Parabolic SAR also displayed dotted lines beneath the candlesticks, indicating an uptrend.

On the downside, Enjin’s support lay at $2, falling below which, the altcoin would trade near the $1.77 support line, a level it last touched two weeks ago. The mentioned price line, had also acted as a propelling price point over the last two weeks.

Recently, Enjin partnered with Stormrite, an open-world RPG game. Stormrite will introduce cosmetic, eco-friendly NFTs to Enjin’s platform.

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