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Price Analysis

04 September: Sushiswap, Enjin, Polkadot Coin Price Analysis

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Some cryptocurrencies have had wildly divergent price fluctuations in the previous 24 hours. There has been no change in Polkadot’s price range and it has fallen through its $33.37 support level. As a result, Sushiswap lost 3.6 percent of its value and is now looking at the $12.58 support level. In contrast, Enjin Coin rose 1.7 percent on its chart, trading near its weekly high of $2.20.

Sushiswap (SUSHI)

SUSHI’s value dropped by 3.6 percent in the previous 24 hours to $13.05. Close to its immediate support line of $12.58, the token was trading at that level. SUSHI’s weekly low of $11.17 will be reached if it falls below $12.58.

Three weeks have gone by and SUSHI is still over $11.17. There were a number of signs that pointed to a downward price trend. The histogram of MACD showed red bars. In addition, the Awesome Oscillator displayed a red signal bar.

Polkadot (DOT)

DOT’s chart showed consolidation, as the stock fell 0.3 percent to $33.25. If it continues to fall, it may reach $28.94.

It would be disastrous for DOT if it failed to hold above the $28.94 support level, which would cause it to trade around or near its weekly low of $26.22. There were red bars flashing on MACD’s histogram, signaling a decrease in markets prices.

As a result, Awesome Oscillator showed red signal bars. The Relative Strength Index, on the other hand, stayed over the 60-mark, indicating that purchasing strength was still strong.

Enjin (ENJ)

During the last 24 hours, Enjin Coin rose by 1.7 percent, trading at $2.11. There was $2.20 in overhead resistance. A week ago, it had reached that level, making it a one-week high.

It can reach a multi-month high at $2.30, after breaking over the $2.20 price line, if it continues to rise. The technical indications indicated to a positive price action trend. The histogram of MACD showed green bars that were increasing.

There has been a resurgence in purchasing power in the previous 24 hours, with the Relative Strength Index reaching 60. Below the candlesticks, the Parabolic SAR also displayed dotted lines, which indicated an increase in the market’s price movement.”

A dip below $2 would see Enjin trading around the $1.77 support line – a level the cryptocurrency last reached two weeks ago. Over the last two weeks, the stated price line had also functioned as a catalyst for price growth.

Khalid is an independent writer that covers the cryptocurrency and blockchain sectors. He has 8 years of writing, technical and trading expertise. He has worked at several major investing sites such as the RippleCoinNews.

1 Comment

1 Comment

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