Uniswap, Tron, Aave Price Movement Analysis for 9th June, 2021

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Following a price drop on June 7, Uniswap, Tron, and Aave are making steady increases. Similarly, the whole crypto market cap, which had plunged by over 15% following the June 7 plunge, is making a sluggish comeback.

Uniswap and Aave showed hints of opening up as their volatility increased moderately, whilst Tron’s price moved more sideways, and its short candlesticks indicated lower volumes.

Uniswap[UNI]

UNI saw a 19% price drop on June 8 and was exhibiting solid indications of recovery at the time of publication. The Awesome Oscillator showed overall bearish momentum, but the emergence of green bars at the time of writing suggested that bullish momentum was seeping in.

The asset narrowly stayed in the top ten coin rankings on CoinMarketcap, with a 16.22 percent 7-day price drop. The Bollinger Bands for UNI have expanded, indicating that the asset’s price range has expanded.

Furthermore, an increase in the Average Directional Index (ADX) indicated a favourable trend. The red line indication remained above 25.0, indicating that the market was rising. If the asset’s price rises, it may test resistance at $29.1.

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Tron[TRX]

Source: TRX/USDT, TradingView

Tron was trading at $0.0724 at the time of publication and was ranked 24 on CoinMarketCap. TRX’s price dropped by 9% since June 7, and its current sideways price trend with short-candlesticks signalling a delayed rebound.

Since May 24, TRX has been trading between the $0.0675 support and $0.084 resistance levels. If the price breaks through the $0.084 resistance level, it might rise to the next big barrier level at $0.129, however this was improbable at the time of publication. The dotted lines above the candlesticks of the Parabolic SAR indicated a negative momentum.

Furthermore, the asset’s Relative Strength Index indicated that selling pressure was overwhelming. The indicator did, however, show a tiny rise, which might indicate that the gap between purchasing and selling pressure was closing.

Furthermore, the Squeeze Momentum Indicator indicated a decrease in bearish pressure. With the recent arrival of Squeeze release (represented by white dots) and the arrival of a dark red bar, TRX may be on the verge of a recovery.

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Aave [AAVE]

Source: AAVE/USD, TradingView

After the price drop on June 7 which led Aave’s price to fall by almost 16.6%, the asset was experiencing slight recoveries. Aave ranked 28 on CoinMarketCap and saw a 0.84% price rise in the past 24 hours whereas it went through a 14.31% price dip in the last week.

The Relative Strength Index for Aave showed that it has recovered from the oversold zone. As of press time, the indicator was hovering around 40, indicating that selling pressure remained dominating for the asset. However, there was a tiny rise in the index, indicating that purchasing pressure was increasing.

The dotted lines above the candlesticks of the Parabolic SAR indicated a negative momentum. Furthermore, Chaikin Money Flow was below zero, indicating that there were more capital outflows than inflows.

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