Dash, Uniswap, VeChain Price Movement Analysis for 22nd February 2021

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DASH could lose $280 if bears were to increase price control. Uniswap managed to hold back to press time help after the sellers took care of the price in the last few sessions. VET continued to travel within a fixed channel, reflecting indecision in its market.

Dash [DASH]

At the time of writing, Dash was trading at the $286 mark, down 5% in the last 24 hours. In the oversold area, the Stochastic RSI pointed lower, while the red Awesome Oscillator bars moved closer to the half-line. A sustained decline could see the next stage of support for the $240 cryptocurrency test.

A bullish turnaround will see DASH step closer to its local peak of more than $332, the amount most recently seen in June 2018.

Uniswap [UNI]

Source: UNI/USD, TradingView

Uniswap finds support at $27.4 after reversing the negative losses by more than 12 per cent after its most recent ATH on the charts. Facing a marginal pullback, UNI’s healthy uptrend remained untouched with a 44 per cent rise over the last seven days. Prices have also stayed above their short-term and long-term moving averages.

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What remains to be seen is whether bulls will keep the price at their current level of support in the face of a slight downturn in the wider market. The MACD was on the verge of a bearish crossover, while the RSI settled around the 60-point mark. In the event of a decline, the 20-SMA (blue) could give some price support. If the current support is retained, the UNI may be set for newer record levels in the coming sessions.

VeChain [VET]

Source: VET/USD, TradingView

The ADX indicator on VeChain rested around the 13-mark and showed the lack of a strong trend in the market as the price continued to move within a range. Since buying activity and trading volumes were on the lower side, a breakout did not seem likely over the coming sessions. Traders can sell on resistance and buy on support to capitalize on the indecision in VET’s current market.

 

The Awesome Oscillator was bearish-neutral. If bearish momentum picks up, the next support level resides at $0.046.

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