EOS broke past a supply area and would try to test again to confirm its reversal of demand. NEM consolidated on the charts while SUSHI has seen a steady downtrend for the past two weeks after recently bouncing off a support level of $ 14.3.
EOS climbed $ 4.4 above its supply region, a region EOS bulls rejected several times in March. The final attempt came after the $ 3.6 support was defended and the $ 4 level flipped from resistance to support. The price rose above that EMA tapes.
The Fibonacci retracement tool showed that $ 4.58 was a level EOS would likely retest in support, making it an area of interest to buyers. The RSI was in overbought territory when it found a value of 72, and the Stochastic RSI was also over 80.
XEM saw a sharp sell-off, dragging it down from $ 0.68 to $ 0.32 in mid-March. Since then, XEM has risen between the $ 0.31 and $ 0.4 zones. The price movement resembled an asset in consolidation, although the range it was fluctuating about was relatively large.
The OBV showed no trend in the last two weeks while the MACD also hugged the zero line to show a lack of strong momentum. In conclusion, price is likely to continue to fluctuate between these two levels until buyer or seller takes the initiative – which would be confirmed by a session of significant trading volume.
SUSHI has faced heavy selling pressure since hitting highs of $ 23.4. At the time of writing, the 20-period EMA (white) was hovering well below the 50-period EMA (yellow), showing strong bearish momentum.
The Supertrend indicator continued to show a sell-signal for SUSHI with a recommended stop loss at USD 15.9.
The loss of the $ 14.3 support level that could occur in a few days should see SUSHI drop to $ 12.7.
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