Ethereum, Stacks, UNI Price Movement Analysis for 16th April, 2021

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Ethereum showed a bearish divergence, which might cause the price to return to $2,370. However, gains in the altcoin market have been huge in recent days, as shown by the declining BTC Dominance. Stacks was in a similar situation, having emerged from a long retracement and returned to near its local highs. Finally, Uniswap retraced after a quick upward step before recovering slightly, suggesting that it will continue to rise.

Ethereum [ETH]

The bearish divergence between price and momentum (RSI) seemed to be causing a pullback. The two sets of Fibonacci Retracement levels defined some ETH help levels. At the time of writing, ETH could see some demand in the $2380-$2400 range. If ETH falls below this level, it will most likely drop to $2300-$2310 in order to reach buyers.

Its long-term pattern, however, remains firmly bullish. The $2515 level was checked, lending credence to the Fib extension levels plotted previously (yellow). Following the pullback, the targets for ETH were $2743 and $3170.

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Stacks [STX]

Ethereum, Uniswap, Stacks Price Analysis: 16 April

Source: STX/USDT on TradingView

Stacks rocketed from $1.12 to $2.76 before reversing dramatically to find help at the 50-period EMA (yellow). Despite its deep retracement, the DMI has maintained a clear uptrend behind STX over the last ten days, while the ADX and +DI (yellow and blue, respectively) have remained above 20.

The MACD developed a bearish crossover to illustrate recent selling pressure, but at $2.38, the 20 EMA (white) and the 23.6 percent retracement level acted as help, halting the bears. A break over the previous high will imply a continuation to $3.16.

Uniswap [UNI]

Ethereum, Uniswap, Stacks Price Analysis: 16 April

Source: UNI/USDT on TradingView

Last week’s surge from the demand area of $29 to $38 saw UNI retrace as low as $33.1 before resuming its ascent to $39.6. Retracement levels plotted for UNI’s transfer over the last two weeks have once again found several areas of demand for UNI.

The A/D line was forming higher lows, indicating that purchasing volume was under control. The Chaikin Money Flow had slipped into neutral territory but could rise more, highlighting nett capital flows into the industry.

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