Price Analysis

SUSHI & NFTX Price Analysis! Altcoins Rebound After Massive Correction

The cryptocurrency market is recovering from the steep price emendations over the past weeks. The market has been experiencing a surge in the short term that has pulled many altcoins from bearish to the bullish zone.

However, the Decentralized Tokens and Non Fungible Tokens have been obtaining efficient activities over the past few days. The Tokens like Sushi Swap and NFTX are active participants.

SUSHI and NFTX have attained above 5% momentum in the past 24 hours. The other altcoins like SNX, GRT, EGLD, CAKE have also gained up to 8% over the last 24 hours.

SUSHI Price Analysis

The food-themed Decentralized Exchange, SUSHI has been dramatically experiencing price variations from the last several days. It is currently in a rally to attain its previous high at $21. SUSHI achieved above 5% impulse in the past 24 hours and is still in the consolidation phase.

SUSHI Price could bounce back to $22 by successfully retesting at the resistance level of $20. The major support levels are $16 and $17. The relative strength index stands at 58.49 which indicates a buy signal.

SUshi chart

The MACD indicates the strong buy signal as the MACD line is about to intersect with the Signal line from below at 1.18 points and also indicating the bullish crossover as the histograms are moving up from the stable line by painting green.

The Parabolic SAR strongly indicates the bullish run as the dots are plotted below the candle sticks.

At a press time, SUSHI price is $18,82 with a 24 hour trading volume of $861,576,731. It is up 5.38% in the last 24 hours. The Market capitalization is $2,396,034,651. The current coinmarketcap rank is #41.

NFTX Price Analysis

NFTX entered the crypto market on 6 January 2021 at a consistently low price of $21.76. The token dramatically incited upwards and surprisingly hit an all-time high on February 15 by spiking to $486.83.

NFTX Price analysis

Unfortunately, the currency failed to resist and declined further to $267.86. However, it obtained above 5% momentum in the last 24 hours. NFTX hovered between the $225 and $365 range. 

At a press time, the NFTX price is $294.04 with a 24-hour trading volume of $10,588,772. It is up 6.31% in the last 24 hours and the market capitalization is $129,944,811. The current coinmarketcap rank is #265.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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