- While Tron rose to $ 0.05 and was tracking some of its gains on the charts, Ontology surpassed the $ 1 level it hadn’t visited since February last year. Finally, SUSHI’s charts recorded short-term bearish pressure as they failed to convincingly attack the $ 15.8 resistance level.
While Tron rose to $ 0.05 and was tracking some of its gains on the charts, Ontology surpassed the $ 1 level it hadn’t visited since February last year. Finally, SUSHI’s charts recorded short-term bearish pressure as they failed to convincingly attack the $ 15.8 resistance level.
The break beyond the range (cyan) followed by re-testing confirmed the break in the bullish and TRX rose from $ 0.0315 to $ 0.05 within a week.
OBV was in an uptrend and its charts showed strong demand from buyers.
The 20 SMA (white) was moving above the 50 SMA (yellow) to show that the bullish momentum has not stopped yet. The 23.6% retracement level saw some demand from buyers. Losing this level may cause TRX to drop to $ 0.039, a 38.2% retracement.
ONT spiked to test the $ 1 resistance. The $ 0.95 zone has seen some selling pressure in the past few trading sessions and saw ONT pull back to test $ 0.82 as the support level. Since then, ONT has seen outstanding trading volume with an additional 27% increase to test the $ 1.03 level.
The RSI was in the overbought territory, but no improvement was seen. In the next few hours, it will become clearer whether ONT can translate to support this level. Almost exactly a year ago, it was the last time ONT traded at this level, and it’s an important level for the bulls to conquer.
A Doji, hammer formation can be used to judge the imminent reversal. Until then, the bullish momentum can be expected to push ONT upward.
SUSHI created a rising, inverted comb pattern on the charts and although it jumped strongly from the $ 12 level, it was unable to break the previous highs at $ 16. The $ 15.8-16 zone put significant selling pressure on SUSHI.
In the 1 hour time frame, the Directional Movement Index showed that a downtrend continued as the ADX (yellow) rose above 20 and the -DMI (pink) rose to indicate the downtrend of the trend.
The MACD was close to zero, and a dip just below it gave further evidence of bearish momentum for SUSHI.