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Polkadot, VeChain, SushiSwap Price Analysis: 10 April

Akashnath Sumukar



Source: Pixabay

Polkadot could soon flip the $42 level to support and continue northward. VeChain was also in a strong uptrend targeting $0.152, and SushiSwap was trending downward but could show some price compression between $14.4-$15 before a strong momentum move outside that area.

Polkadot [DOT]

Polkadot, VeChain, SushiSwap Price Analysis: 10 April

Source: DOT/USDT on TradingView

Polkadot was trading above the $42 level once more. It has seen a strong move up from $30 to $46 in the past month. Unable to force its way past this barrier, DOT saw a pullback to $38 and demand begin to arrive once more.

This buying pressure drove prices above the $42 level and could flip it to support in the hours to come. This development would see DOT push towards the $46 highs once more, and likely climb above it as well.  The $40-$42 is a buying area, with targets of $46 and $48 and perhaps higher, considering Ethereum has room for gains as well.

VeChain [VET]

Polkadot, VeChain, SushiSwap Price Analysis: 10 April

Source: VET/USDT on TradingView

VET had hit its then local high at $0.1 two weeks ago and consolidated under this level, and pulled back as low as $0.076. Using this as a swing low, and its candle to $0.121 in the past few days, Fibonacci retracement and extension levels were plotted (white).

The DMI showed both the ADX (yellow) and +DI (blue) above 20 to indicate a strong uptrend. The CMF was also well above +0.05 to indicate buyers were dominant in the market.

VET had retraced from $0.121 to $0.1 and has since surged on heavy trading volume, and could have further gains to be made, with take-profit levels at $0.144 and $0.152.

SushiSwap [SUSHI]

Polkadot, VeChain, SushiSwap Price Analysis: 10 April

Source: SUSHI/USDT on TradingView

SUSHI had formed a rising wedge and has trended downward from the highs at $22 to test the $13.5 level of support. At the time of writing, the trend was in continuation, but the $14.44 was defended to form a higher low, and some price compression before a strong move in either direction is possible.

The MACD and Awesome Oscillator were both reverting toward the zero line on the bounce off the $13.5 level, showing that the bearish momentum of the past few days was reverting back toward neutral.

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.