TRON, AAVE, Sushiswap Price Movement Analysis for 8th September, 2021

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Price action was not looking very positive at this point, for most altcoins. TRON, AAVE and SUSHI all dove considerably on their respective charts.

TRON lost 15.1% and was trading close to $0.816, a level it didn’t visit for over a week. AAVE neared its one-month low price level at $302.90. Sushiswap lost over 20% in the past 24 hours and reversed the gains it had secured over the past week.

TRON (TRX)

Tron has dropped 15.1 percent in the last 24 hours and is now trading at $0.0875. It was trading at the $0.816 support level, which it had last touched a week and a half ago. Tron might fall to $0.070, a level it last saw a month ago, if prices continue to fall.

The altcoin’s technical indicators indicated that the price would continue to fall. As a result of a massive sell-off, the Relative Strength Index fell to a multi-month low. MACD’s histogram also showed red bars.

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After a sequence of red signal bars, Awesome Oscillator displayed one green signal.

If Tron begins to rebound from its recent decline, the first price ceiling stood at $0.0888.

AAVE

TRON, AAVE and Sushiswap Price Analysis: 08 September

AAVE/USD, TradingView

AAVE has dropped by 17.2 percent in the previous 24 hours, bringing it close to its one-month low. It was priced at $326.90, with $302.90 acting as immediate support. A drop below its one-month low of $302.90 could cause AAVE to settle near $280.

The altcoin’s technical outlook remained exceedingly gloomy. Over the last day, the Relative Strength Index remained in the oversold zone. Attempts to resurrect buying pressure were greeted with another standstill. As a result, Chaikin Money Flow fell below the midpoint as capital inflows fell significantly. After a bearish crossover, MACD also displayed red bars on its histogram.

In the case of a reversal, AAVE would first meet with the $338.25 price ceiling. Going beyond which the resistance levels stood at $375.40 and $414.15. On a full recovery, AAVE could attempt to revisit its multi-month high of $441.27.

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Sushiswap (SUSHI)

TRON, AAVE and Sushiswap Price Analysis: 08 September

SUSHI/USD, TradingView

SUSHI has dropped 21% in the last 24 hours and is now worth $10.54. The coin fell below its one-week support line of $11.17 and was on its way to a one-month low of $9. SUSHI seems to be in a downward trend, based on the parameters.

The Relative Strength Index was below 25 and in the oversold zone when it hit a multi-month low. After witnessing a bearish crossover, MACD displayed red bars on its histogram. Bollinger Bands have widened significantly in expectation of high market volatility in the future trading sessions.

On the other hand, immediate resistance was found at $11.17. Additional price ceilings of $12.58 and a multi-month high of $14.62 are expected.

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