Chainlink,  Dash, Uniswap Price Movement Analysis for 23rd March, 2021

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Chainlink fell from support at $28.5, owing to bearish on-chain metrics. At $218.2, Dash missed out on a critical line of safety. Uniswap was expected to fall below the $31.8 mark.

Chainlink [LINK]

As Chainlink dropped below the $28.5-support mark, multiple indicators were present in the market. The first was a bearish twin peak configuration on Awesome Oscillator, which resulted in a significant increase in sales momentum. A bearish divergence on the RSI was the second predictor. Both of these factors, along with a bearish overall economy, contributed to the market breakdown. The RSI remained out of oversold area, but a climb to the upper region in the coming sessions was out of the question.

Previously, a transformation into a new region resulted in a brief period of restructuring before progressing upward, and the same was predicted for the future.

Dash [DASH]

Source: DASH/USD, TradingView

After almost two weeks of consolidation, the bears smashed through a strong support line at $218.2. Price shifts have happened in both directions, but more to the upside, in the recent range of $218.2 to $201. This could happen again, as OBV expressed interest in buying after the price fell below the previously listed aid.

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Meanwhile, the dotted markers on the Parabolic SAR moved below the candlesticks, showing that Dash is in a downtrend around $236. A break below the current channel would almost definitely result in a lengthy sell-off towards $183.4.

Uniswap [UNI]

Source: UNI/USD, TradingView

Uniswap has maintained a range of $35 to $31.8, making it one of the best performers in 2021 so far. The technicals, on the other hand, weighed in favour of a negative outcome, one that could result in UNI losing its press-time funding. The MACD crossed bearishly, and the Awesome Oscillator formed a bearish twin peak. In the plus side, 24-hour exchange volumes were slightly more than $1 billion. This might negate any bearish market conditions. A sudden drop in volumes can indicate a loss and highlight the next support level at $31.5.

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