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)
TRX/USD, TradingView
Tron plunged 15.1% over the last 24 hours and was trading at $0.0875. It was trading near the support level of $0.816, which it last visited week and a half ago. Upon further decline, Tron can dip to $0.070, a level it last touched, a month ago.
Technical indicators of the altcoin pointed to continued negative price action. Relative Strength Index was on a multi-month low, as a huge sell-off pushed prices down. MACD also displayed red bars on its histogram.
Awesome Oscillator flashed one green signal after a series of red signal bars. If Tron starts to recover from the fall, the first price ceiling stood at $0.0888. The additional price levels that TRX could topple over, lay at $0.0958 and then at $0.1040.
AAVE
AAVE/USD, TradingView
AAVE inched near its one-month low price mark, as it crashed by 17.2% over the last 24 hours. It was priced at $326.90, and its immediate support lay at $302.90. A dip beyond its one-month low price level of $302.90 could make AAVE rest near $280.
The technical outlook remained extremely bearish for the altcoin. Relative Strength Index was parked inside the oversold zone over the past day. As buying pressure tried to revive itself, it met with another halt. Correspondingly, Chaikin Money Flow rested below the mid-line as capital inflows dipped substantially. MACD also flashed red bars on its histogram, after a bearish crossover.
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.
Sushiswap (SUSHI)
SUSHI/USD, TradingView
SUSHI plummeted 21% over the last 24 hours, and was valued at $10.54. The coin broke below its one-week support line of $11.17 and was headed to trade near the one-month low of $9. Parameters suggested that SUSHI was on a downtrend.
Relative Strength Index stood below the 25-mark, positioned inside the oversold zone as it touched a multi-month low. MACD flashed red bars on its histogram, post encountering a bearish crossover. Bollinger Bands opened up heavily in anticipation of high market volatility, over upcoming trading sessions.
On the flipside, immediate resistance lay at $11.17. Additional price ceilings awaited at $12.58 and a multi-month high of $14.62.
