SushiSwap (SUSHI) and Kyber Network (KNC) Technical Analysis: Prices Cooling Off, Are Bears Back?
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Table of contents
SushiSwap (SUSHI)
The DEX offers more features and is a clone of Uniswap, and it uses SUSHI for governance.
Past Performance of SUSHI
The SushiSwap token price is within a tight trade range above $10.
From the SUSHI technical analysis, prices are moving inside a squeeze whose breakout would likely define the short-to-medium term trend.
Day-Ahead and What to Expect
The SUSHI/USDT is accumulating or distributing depending on the breakout direction.
If the SUSHI coin trends above $10, buyers will have the upper hand, especially if losses of October 27 are reversed.
On the other hand, steep losses below $10 may force further liquidations to crucial support levels in the short term.
SushiSwap Technical Analysis
SUSHI crypto prices have been in an extended squeeze though the uptrend is valid.
As mentioned above, a close above $13 may ignite demand, lifting SUSHI/USDT to September 2021 highs of $15 in the medium term.
However, the odds of deeper draw-down are amplified due to the correction across the board.
In such a case, if the SUSHI token prices collapse below $10, it may sink to $8—the 78.6 percent Fibonacci retracement of the Q3 2021 trade range.
Kyber Network (KNC)
The liquidity provider eases the operations of DeFi DEXes using KNC as the primary token.
Past Performance of KNC
The Kyber Network token is rapidly losing ground versus determined sellers.
As per the KNC technical analysis of the daily chart, the coin is within a bear breakout pattern following October 27 losses.
Day-Ahead and What to Expect
From the daily chart, KNC token prices are giving up gains of Q3 2021.
As such, the KNC coin may continue posting more losses in the short term. However, a reversal above $1.70 and $1.85 could fan demand, lifting KNC/USDT back to $2.3.
Kyber Network Technical Analysis
In a bear trend resumption of September 2021, KNC crypto is sliding in a bear breakout pattern below crucial support lines of the recent squeeze.
Therefore, based on candlestick arrangements, every low might be an opportunity to unload for aggressive traders targeting September 2021 lows at $1.3 and later $1.2.
Supporting this overview is the high-volume bar of October 27, confirming the bear breakout.
