Bitcoin, Dogecoin, UNI Price Movement Analysis for 6th July, 2021

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The whole crypto-market cap increased by 2.08 percent in the previous 24 hours, reaching $1.46 trillion. While yesterday’s BTC price drop had a negative impact on the whole market, it has now steadied.

DOGE, like Bitcoin, appeared to consolidate its holdings as it attempted to enter bullish zone following a period of sideways action. UNI, on the other hand, has had an amazing upsurge in the last week, with a price increase of more than 25% and dominating optimistic sentiment.

Bitcoin [BTC]

Bitcoin’s price climbed by 2.1 percent after plunging by 7% the day before. At the time of publication, it was trading in the green at $34,796 after recovering from a dip below the critical $34,000 level. Since 18 June, however, it has been oscillating between the $32,377-support and $36,545-resistance levels.

On the 4-hour chart, the Bollinger Bands were somewhat convergent. As a result of the low market volatility, significant price movements are unlikely. Despite the fact that the MACD had a bearish crossing yesterday, the indicator and signal line appeared to be on the approach of another crossover, as the lines were in convergence and negative momentum on the histogram was low.

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Buying pressure also plunged yesterday. However, pushback from the bulls led to the Relative Strength Index (RSI) moving up above the median line as selling pressure was subverted.

Dogecoin [DOGE]

Source: DOGE/USD, TradingView

Dogecoin’s 7-day price change was minus 6%, but it gained 0.6 percent in the previous 24 hours. Furthermore, it lost more than 35% of its value in the previous month. Since the stabilisation on June 25, the meme-coin has drifted laterally with brief candlesticks while price movement has stayed low. During this time, there were no attempts to break through the $0.27 resistance and $0.22 support levels.

Yesterday, capital inflows into the DOGE market surged as the Chaikin Money Flow climbed above the equilibrium zone. However, it stayed in bullish neutral territory. After reporting a positive crossing, the Stochastic RSI left the oversold area at the same time. The lines remained below the median line at press time, heading for the bullish zone.

Momentum for the asset remained low, as highlighted by the small bars on the Awesome Oscillator due to an extended contraction of the price range. Bearish momentum on the histogram could be seen declining with the emergence of a green bar.

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Uniswap [UNI]

Source: UNI/USD, TradingView

UNI broke through the $18.6 resistance on 3 July and remained suspended above it as support. The coin managed to surge by 25.4% in just one week, with a 9% spike in 24 hours. Its trading volume also increased by 14% during this time.

The divergence of the Bollinger Bands indicated that the DeFi token saw significant price movement as the market remained turbulent. Despite the fact that the Parabolic SAR’s dotted line appeared above the candlesticks during yesterday’s market drop, the asset remained generally bullish during the week. It was once again fluctuating below it as the price movement maintained a positive trend.

The development of dominating bullish momentum on the coin’s price chart was depicted by the creation of lengthy green bars above the Awesome Oscillator’s histogram. In the case of a persistent price increase, the asset may encounter resistance at the $25 mark.

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