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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]
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]
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]
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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