Uniswap, VeChain, Waves Price Movement Analysis for 5th April, 2021

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Uniswap traded slightly above the $30-mark but was projected to remain below $32 over the short term. VeChain and Waves, both formed an ascending triangle on their respective charts, and the latter coin could snap the $14 price level in a bullish scenario.

Uniswap [UNI]

Uniswap rose to prominence, especially during the overall DeFi boom, and has had a solid start to 2021. Year-to-date gains of more than 530 percent have highlighted a clear uptrend in the UNI industry. Also at the start of April, the market recovered from the lows hit at the end of March, and it stabilised above the $29.1 resistance mark. This market action meant that the bulls were consolidating their power ahead of the next major leap.

According to the MACD, current business dynamics were in the red, but they remained above the half-line. The RSI was pointing south from 50, indicating that a breakout over $32 was impossible, at least in the short term.

VeChain [VET]

Source: VET/USD, TradingView

VeChain had a few support ratios available, which avoided a failure on the 4-hour maps. Over the last week, support lines at $0.076, $0.084, and $0.087 have been enabled. In reality, an ascending triangle formed during the process as the highs remained constant at $0.098. While a sharp escape from this trend was unlikely, it did suggest a period of accumulation.

RECOMMENDED READ:  VeChain, Ethereum Classic, Litecoin Price Movement Analysis for 1st February 2021

The OBV was rising at the time of writing, but it had not yet reached the levels seen on March 22. Following a string of successive green lines, the Awesome Oscillator noted bullish momentum. The 24-hour trading volume did not exceed $1 billion, but greater movements within the VeChain market can be anticipated.

Waves [WAVES]

Source: WAVES/USD, TradingView

Volatility has been strong in the Waves market since it broke through the $10.7 resistance level. Sharp northbound moves have been successfully countered by the bears so far, but the upper limit of $13.2 has been broken on several occasions. If the bulls win in the coming sessions, a breakout from the upper trendline could send WAVES to $14, a level last seen in January 2018.

The OBV was selling at healthy levels, indicating that purchasing demand was still a relentless driving force in the market. On the downside, the MACD showed a bearish divergence after making lower peaks. If a failure occurs, the $10.7 area could act as a stopgap for a prolonged sell-off.

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