The bearish sentiment had not yet reversed in the altcoin markets, but some coins in particular showed a lack of sales volume, such as Klaytn. SushiSwap defended the $ 14.4 support level and rebounded above $ 15, and Terra appeared to be bouncing back from recent losses.
SushiSwap [SUSHI]
SUSHI defended the $ 14.4 mark and rebounded above the $ 15.78 level. In the short term, both DMI and Chaikin Money Flow showed an uptrend as demand was evident in the $ 14.5-15 range.
In late February, the region saw heightened volatility between $ 13-16 before SUSHI convincingly climbed above $ 15.8 and an uptrend that rose to $ 22.8 before sellers took control .
A retest of $ 15.78 as support can be used to scale into a long position with a stop loss below $ 14. SUSHI has not fully exceeded the bearish momentum for several periods and a revisit to USD 14 cannot be ruled out yet, although the momentum has been bullish in the short term as MACD shows.
Klaytn [KLAY]
KLAY acted within a descending channel. However, this was more of consolidation than a sharp downtrend. KLAY had just fallen below the USD 2.8 level, the retracement level of 23.6% and was able to decline.
If KLAY loses mid-range, KLAY could drop to $ 2.5 in the short term. Long term traders can try buying KLAY anywhere in the $ 2.4-2.6 region. This is because the price has been falling steadily over the past few days, but OBV has not had any significant sales volume. The minimum amount set a few days ago at OBV had not yet been reached despite falling prices, which indicates the lack of sales volume when prices are falling – a medium to long-term buy signal.
Terra [LUNA]
LUNA had some demand in the $ 17.87-18.07 range, with the 38.2% Fibonacci retracement level also reinforcing the range for the bulls. For the past few days, LUNA bulls have been defending the $ 16 mark and pushing prices higher, and increasing trading volume on the rally suggests steady demand.
RSI touched 70, the overbought line, and pulled back. This could cause LUNA to hit the $ 17.8 mark before going up again.
A rise above the $ 18.8 level, which is the 50% retracement level, would be a sign that LUNA is on its way to $ 21 and it could take a few days for it to unfold if the Demand is increasing.
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