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Chainlink, Sushiswap, Filecoin Price Analysis: 21 August

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Chainlink, Sushiswap and Filecoin Price Analysis: 21 August
Source - Unsplash

The altcoin market did not register bullish momentum, on an immediate basis, just as the broader crypto market gained strength. Chainlink recorded a 7% gain, while, Sushiwap traded sideways. Lastly, Filecoin rose by 2.8% and it could attempt to retest the $75.56 resistance mark. 

Chainlink (LINK)

Chainlink, Sushiswap and Filecoin Price Analysis: 21 August

LINK/USD, TradingView

LINK appreciated 7% over the last 24 hours, as it traded at $28.77. The coin attempted to topple over $29.17 and with a sustained uptrend, it could test the $30.40 level for the third time in a week.

The technicals for Chainlink remained bullish. Relative Strength Index stood at the 60-mark in the bullish territory. 

Awesome Oscillator registered green signal bars, while MACD also noted green bars on its histogram, however, the latter seemed to recede. In the case of a price reversal, the support lines rest at $26.60 and $24.80.

Sushiswap (SUSHI)

Chainlink, Sushiswap and Filecoin Price Analysis: 21 August

SUSHI/USD, TradingView

Sushiswap registered directionless movement as it witnessed range-bound price action, between $13.90 and $14.62. If the prices break on the upside, the alt could attempt to retest the $14.62 resistance level. 

Indicators gave out mixed signals. Awesome Oscillator exhibited red signal bars which underlined possibilities of bearish price action. Correspondingly, MACD registered declining green bards on its histogram, as it approached a bearish crossover.

The next support levels lay at $12.58 and $11.17. Bollinger Bands expanded which underlined a rise in market volatility. 

Filecoin (FIL)

Chainlink, Sushiswap and Filecoin Price Analysis: 21 August

FIL/USD, TradingView

FIL moved up by 2.8% and was trading for $72.41. It also showed signs of consolidation and in case it breaks its rangebound movement on the upside, it can retest the $75.56. Indicators were bullish for the asset. 

Awesome Oscillator noted a buy signal along with the onset of bullish price momentum. MACD also depicted green bars on its histogram.

Chaikin Money Flow stood above the half-line in the positive price territory, after it recorded an increase in capital inflows. If Filecoin moves downward after breaking its consolidation, the support levels are at $70.01 and $63.90. 

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Anushmita is a full-time journalist at AMBCrypto with a background in Mass Communication. She is inclined towards writing about the socio-political aspects of the crypto market and also has an interest in analyzing market trends.