SushiSwap, Klaytn, Terra Price Movement Analysis for 26th March, 2021

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Bearish sentiment had not yet reversed across the altcoin markets, but some coins, in particular, showed a lack of selling volume, such as Klaytn. SushiSwap defended the $14.4 support level and bounced above $15, and Terra looked to recover from recent losses.

SushiSwap [SUSHI]

SUSHI defended the $14.4 mark and saw a bounce past the $15.78 level. In the short-term, both DMI and Chaikin Money Flow showed an uptrend being established as demand was evident in the $14.5-$15 area.

In late February, the $13-$16 region saw heightened volatility before SUSHI was able to climb convincingly past $15.8, and saw an uptrend that took it to $22.8 before sellers took control.

A retest of $15.78 as support can be used to scale into a long position, with a stop-loss beneath $14. SUSHI is not yet completely past the downward momentum across multiple timeframes, and a revisit to $14 cannot yet be ruled out, even though, in the short-term, momentum was bullish, as shown by MACD.

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Klaytn [KLAY]

SushiSwap, Klaytn, Luna Price Analysis: 26 March

Source: KLAY/USDT on TradingView

KLAY was trading within a descending channel; however, this was more consolidation than a strong downtrend. KLAY had just slid beneath the $2.8 level, the 23.6% retracement level and could go lower.

Losing the mid-point of range could see KLAY descend to $2.5, in the short-term. Long-term traders can look to buy KLAY anywhere in the $2.4-$2.6 region. This is because the price has steadily dipped in recent days, but OBV did not show significant selling volume. The floor set a few days back on OBV was yet unbreached even as price descended, highlighting lack of selling volume even as prices dropped – a signal to buy for the medium to long term.

Terra [LUNA]

SushiSwap, Klaytn, Luna Price Analysis: 26 March

Source: LUNA/USDT on TradingView

LUNA had some demand in the $17.87-$18.07 area, with the 38.2% Fibonacci Retracement level also reinforcing the area for the bulls. In the past couple of days, LUNA bulls have defended the $16 mark and driven prices higher, and the rising trading volume on the rally points toward steady demand.

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RSI touched 70, the overbought boundary, and pulled back. This could see LUNA dip to the $17.8 mark before another move upward.

Rising above the $18.8 level, which is the 50% retracement level, would be a sign that LUNA was on its way to $21, and this could take a few days to unfold if demand rises.

 

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