Algorand,  EOS, Uniswap Price Movement Analysis for 3rd April, 2021

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Algorand was expected to break through a high resistance level of $1.4. EOS was supposed to stable at $6 before going on its upward trajectory. Also after the last 24 hours of bullish movement, Uniswap lacks the buying momentum to break above $35.

Algorand [ALGO]

A recovery from $1 support fueled a turnaround in the Algorand market, but a substantial resistance barrier persisted at $1.4. On the previous occasion, the above amount was faced with selling difficulty, but the on-chain metrics supported a positive result and a good breakout.

The MACD line crossed over the signal line, and the green bars of the histogram rose above the half-axis. The Amazing Oscillator also displayed a bearish twin top, suggesting that momentum was with the buyers. A increase in 24-hour trading rates will indicate a move towards the next limit, which is set at $1.52.

EOS

Source: EOS/USD, TradingView

Sharp moves in the EOS market moved the price beyond $6, a pace last seen in June 2019. Weekly gains reached nearly 50% as the market moved out from a consolidation period in which the price was limited between $4.3 and $3.5 during the month of March. As the price climbed above the aforementioned resistance limit, the Bollinger Bands displayed an increase in volatility. This indicated that there would be further short-term benefits.

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The RSI, on the other hand, suggested overbought conditions at the current price stage. Despite totalling more than $7 billion at press time, 24-hour trading rates fell slightly. Stabilization could occur at $6 or even $5.4, but the uptrend was supposed to extend to higher levels in the coming sessions.

Uniswap [UNI]

Source: UNI/USD, TradingView

Bullish strength was on the rise in the Uniswap market at the time of publishing, with the stock attempting to flip the $32.3-resistance. The MACD line began to rise over the Signal line, while the histogram indicated buyer momentum. The OBV, on the other hand, has yet to rebound from lows reached more than a week earlier. This added to the doubt, particularly after the price broke above $29.5 and flipped to help.

This implied that the more recent bullish market action lacks the conviction to continue at higher levels. On the 4-hour timeframe, a bearish candlestick emerged as the price approached the next ceiling at $32.31.

 

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