25 April, 2024

Navigating the Crypto Wave: AVAX, SUI, and FTM’s Path Amidst Market Volatility

03 Apr, 2024

03 Apr, 2024

  • Avalanche’s oversold conditions signal potential for discounted entry, but bearish momentum persists with MACD below signal line.
  • SUI’s RSI indicates neutrality, yet MACD suggests short-term downward pressure and support at $1.45.
  • Fantom displays balanced sentiment with RSI, but MACD indicates short-term bearish trend.

Amidst the ever-changing landscape of cryptocurrency markets, investors are closely monitoring the movements of prominent digital assets like Avalanche (AVAX), SUI, and Fantom (FTM). These coins have shown resilience in the face of market volatility, but recent developments suggest potential shifts in their trajectories.

Avalanche’s price stands at $46.97 at press time, with a slight decline of 1.09% over the past 24 hours. Despite this, the Relative Strength Index (RSI) on the daily chart signals oversold conditions at 41.85, potentially enticing traders seeking discounted entry points. However, caution is warranted as the Moving Average Convergence Divergence (MACD) below the signal line indicates prevailing bearish momentum in the short term. 

AVAX/USD 1-Day price chart, Source: TradingView

Furthermore, the Know Sure Thing (KST) indicator below the signal line reinforces the likelihood of a downward trend. As highlighted by Crypto Tony, an analyst, investors eye the crucial $64.50 level, aiming for it to convert into support to validate a safer long entry.

Meanwhile, Sui sits at $1.71, experiencing a 3.08% decline within the last 24 hours. The RSI at 47.96 suggests neutrality, while the MACD below the signal line hints at potential short-term downward pressure. 

SUI/USD 1-Day price chart, Source: TradingView

However, the KST indicator above the signal line offers optimism for positive momentum and a potential upward trajectory. As further noted by Crypto Tony, maintaining support above $1.45 is crucial for sustaining bullish sentiment.

Fantom’s price stands at $0.863963, marking a 3.24% decrease in the past day. The RSI at 46.68 reflects a balanced market sentiment, with the potential for price movement in either direction whereby a drop back to 0.65c would be a gift.

Fantom/USD 1-Day price chart, Source: TradingView

Similar to AVAX and SUI, the MACD below the signal line indicates a bearish trend in the short term, while the KST below the signal line underscores imminent downward pressure.


By using this site, you agree to the Privacy Policy and Terms of Use.