The largest altcoin in the world, Ethereum, traded in red at press time after a small sale took place. However, amid the bearishness, the price could soon revisit the $1,800 mark. UNI was expected to recover $20 from bears, but profits could be capped by $21.5 in resistance. At the end of the day, DOGE could lose out on another support stage as the coin’s on-chain indicators flashed bearish signals.
Ethereum bulls lost $1,756 in support after a minor reversal saw the price drop by more than 4 per cent. The Stochastic RSI indicated that ETH might soon revisit the $1,800 level after a bullish crossover had taken place in the oversold region. On the downside, in the case of a northbound shift, the price can face some resistance at 50-SMA (yellow) in the short term. The MACD line moved well below the signal line and the histogram registered an uptick of bearish momentum.
While the bullish trend of ETH is likely to see price trade at record levels soon, bears could postpone the change on the charts.
Uniswap amortised its losses at the $19 support after the price had fallen by almost 8 per cent in the last 24 hours. The Amazing Oscillator displayed some of the sale signals as the red bars went below the half-line. However, a certain amount of bullishness has been observed in the past few sessions, and the price could revisit the $20 mark. A bullish crossover in the Stochastic RSI backed the forward-moving buyers.
However, a stronger conviction was required for the price to give rise to an uptrend in the short term. Instead, UNI could trade between $20 and $21.5 over the coming sessions.
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