Uniswap was trading slightly above the $ 30 mark but should stay below $ 32 for the short term. VeChain and Waves both formed an ascending triangle on their respective charts, and the latter coin was able to hit the $ 14 price level in a bullish scenario.
Uniswap gained prominence, especially during the wider DeFi boom, and had a strong start to 2021. Year-to-date earnings are over 530%, underscoring a strong upward trend in the UNI market. In early April, the price even rallied from the lows reached in late March, and the price was above the USD 29.1 resistance. This price move indicated that the bulls were gaining strength ahead of the next big move.
The current market conditions were loud MACDbut the same was still floating above half the line. The RSI pointed south from 50, suggesting a breakout above $ 32 was unlikely, at least in the short term.
There were some levels of support for VeChain that prevented the 4-hour charts from going down. Last week, support lines of $ 0.076, $ 0.084, and $ 0.087 were put into action. In fact, an ascending triangle formed as the upper ceiling highs held steady at $ 0.098. A sharp break out of this pattern was not likely, but indicated a certain accumulation phase.
The OBV ticked at the time of writing but not yet reached by March 22nd Ingenious oscillator saw a positive move on the bullish side after a series of consecutive green bars. The 24-hour trading volume did not hit the $ 1 billion mark, but the same should be seen for stronger moves within the VeChain market.
Volatility in the Waves market has been high since it crossed the $ 10.7 resistance line. Sharp moves to the north have so far been successfully countered by the bears, but the $ 13.2 cap has been tapped several times. If the bulls triumph in the upcoming sessions, a breakout of the upper trendline could see WAVES head towards $ 14 – a region last seen in January 2018.
The OBV was trading at healthy levels as buying pressure remained a constant driving force in the market. On the other hand, there has been a bearish divergence on the MACD after making lower highs. Should a breakdown occur, the region could cushion a prolonged sell-off at USD 10.7.
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