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EOS, NEM, SUSHI Price Analysis: February 23

Altcoins such as EOS and SUSHI were seeing breakouts south of their parallel channels, with both support levels eyeing at $ 3.8 and $ 13.4. On the flip side, the NEM hit a local high of $ 0.69 due to buying pressure, before settling down.

EOS

Source: EOS / USD, TradingView

EOS broke down from its parallel channel over the 4-hour period after the crypto price fell nearly 15%. The On Balance Volume fall sharply. As the selling pressure pulled the price below its $ 4.2 support.

The RSI had yet to hit the oversold zone, suggesting a delayed bullish scenario. A prolonged sell-off would likely cause EOS to drop to the $ 3.8 support line. Some buying opportunities may be presented if the price reaches the aforementioned level. An early reversal would put the $ 4.5 resistance in the spotlight.

NO [XEM]

Source: SEE / USD, TradingView

NEM has risen steadily in the charts over the past seven days, posting gains of over 37%. On the daily chart, said uptrend seemed to be more visible, with NEM leading a bullish phase as the accumulation period drew to a close.

The crypto price seemed poised for a near term correction. The RSI pointed south of the overbought region. Crypto candlesticks were also trading along the upper band of the Bollinger Band. The support at $ 0.56 could keep the price at bay if the sell continues.

SushiSwap [SUSHI]

Source: SUSHI / USD, TradingView

Sushiswap moved south from an ascending parallel channel after a candlestick broke below the lower trendline. Additionally, a bearish divergence has been spotted. The MACD line made higher highs. While the price was moving in the opposite direction. A lower close over the next few sessions would confirm the breakout.

The Chaikin Money Flow was heading down and looking to move below the half line as capital leaked out of the crypto asset. The support levels at $ 13.4 and $ 12.9 would be targeted if the breakout is confirmed.

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