Cardano, Qtum, THETA, UNI Price Movement Analysis for 7th April, 2021

Spread the love

Cardano fell after breaking through the upper barrier of $1.34 and was supposed to stay within a band. After reaching a local high of $17.8, Qtum entered a corrective process. THETA’s short-term course shifted somewhat in favour of the bulls. Before attempting a comeback, Uniswap can need to defend its $26.2-support once more.

Cardano [ADA]

While a single candlewick did cross the upper resistance line of $1.34, Cardano reversed course on the 4-hour timeline. A breakout was not anticipated, and the short-term forecast for the world’s sixth-largest cryptocurrency remained rangebound. After the latter half of March, the OBV has remained subdued due to a lack of purchasing demand to sustain a price increase.

The RSI narrowly touched the overbought zone before moving south and remaining below 50 at the time of publishing. With the 24-hour market rate already reflecting a spike in trading interest, a large swing to the upside seemed probable in the coming sessions. But first, the bulls had to protect the $1.16-support level.

Qtum [QTUM]

Source: QTUM/USD, TradingView

Qtum has been steadily rising since breaking through the $4.5-support level in late February, and it has continued to do so as the month of April comes to a close. In reality, a breakout from an ascending triangle resulted in a more than 50% increase from the upper trendline as Qtum climbed above $17.5. However, the market experienced a reversal, and the price had fallen at the time of publication.

RECOMMENDED READ:  Uniswap Hits Over $12, Why Dips Stay Enticing

The RSI appeared to be stabilising after trading in the upper territory, while the Awesome Oscillator recorded a single red bar as momentum appeared to shift. Support was seen between $14.5 and $14, but a breakdown below this level was also likely.


Source: THETA/USD, TradingView

THETA’s volatility has been largely limited by the range between $13.8 and $11.2 since late March, but a market swing is expected in the coming sessions. This claim was reinforced by increasing market uncertainty as the Bollinger Bands started to diverge at the time of publication. Trading rates were increasing and approaching the $1 billion mark. Given THETA’s recent uptrend, a northbound breakout seemed imminent, pushing the market above $15.

However, a collapse was also likely if the MACD demonstrated a bearish crossover and stayed below the equilibrium stage. THETA’s short-term movement will become clearer in the coming sessions.

Uniswap [UNI]

Source: UNI/USD, TradingView

So far in 2021, Uniswap has seen a promising trend. Year-to-date returns stood at 513 percent at the time of publication, with UNI remaining the biggest DeFi coin with a market value of nearly $15 billion, according to CoinMarketCap. However, as opposed to its long-term movement, its short-term trajectory was very grim. Following a dip in late March, the OBV struggled to rebound. UNI will fail to reach new highs in the absence of heavy purchasing demand.

The RSI was almost 90 degrees angled, pointing towards the oversold area. The bulls have previously defended the $26.2 support mark, but this must be done again to prevent an extended breakdown.

RECOMMENDED READ:  Why the joke about Dogecoin Musk stop as price nears $1

 354 Interactions,  6 today

BTC, ETH, BNB, ADA, DOT, XRP, UNI, LTC, LINK, THETA Price Movement Analysis for 2nd April, 2021

Select altcoins could grow if Bitcoin and Ethereum retain their recent gains. According to a new JPMorgan research report, institutional Read more

 BTC, ETH, BNB, ADA, DOT, XRP, UNI, THETA, LTC, LINK Price Movement Analysis for 31st March, 2021

Bitcoin's recovery from recent lows, combined with the stellar performance of altcoins, indicates that bulls are confident that BTC will Read more

Returns on DeFi ETFs vs. SUSHI, UNI, COMP, and AAVE compared

Based on their YTD price activity, the following DeFi tokens – SUSHI, AAVE, UNI, COMP, and MKR – are poised Read more

Here’s DeFi strategy can bode well for UNI, SUSHI, YFI, and AAVE.

Actively investing in top DeFi tokens based on the TVL may have become obsolete in several cases, with returns falling Read more

BTC, ETH, BNB, ADA, DOT, XRP, UNI, THETA, LTC, LINK Price Movement analysis for march 29th, 2021

The revived drive of Bitcoin over the declining channel trendline signals that bulls are planning to push BTC and altcoins Read more

BTC, ETH, BNB, ADA, DOT, XRP, UNI, LTC, LINK, BCH Price Movement Analysis for 19th March, 2021

Several altcoins are setting fresh all-time highs as bulls fail to push Bitcoin beyond $60,000. According to a survey by Read more

BTC, ETH, BNB, ADA, DOT, XRP, UNI, LTC, LINK, BCH Prices Movement Analysis for 12th March, 2021

Bitcoin bulls are struggling to pump up the BTC price to $58,000, but data shows that altcoins might be losing Read more

BTC, ETH, UNI, ATOM, COMP Price Movement Analysis on why you should watch these cryptos this week

Bitcoin's price fall back to the descending triangle, but this dip may draw investors to altcoins and DeFi tokens in Read more

Altcoins attempting to insulate from Bitcoin: GNY, ALPHA, UNI, VGX, QNT.

It is also best to find a hedge at periods of rising Bitcoin uncertainty. Many traders flock to stablecoins, but Read more

IRS tax form question leaves US crypto users confused and concerned

This year’s Form 1040 requires all U.S. taxpayers to answer a question about whether they traded or acquired “virtual currency” Read more

Chainlink, IOTA, Elrond Price Movement Analysis for 9th April, 2021

Bitcoin's break through $58.2k could signal the start of increased gains in the altcoin sector. Momentum for IOTA was highly Read more

Leave a Reply

Contact Us