Weekly Altcoins analysis (ADA &UNI)

November has been a continued downtrend for major altcoins.

 ADA showed a 0.6% depreciation on the previous day. 

Given that the market is anticipated to exit lateral trading, the next few trading sessions for ADA are still critical. 

Depending on how rapidly it overcomes its present barrier. The price level is still being lowered by the bears. If ADA doesn’t claim the $0.36 price, the Bears will keep winning. 

ADA may climb higher if there is a spike in buying, which would signal the beginning of bullish price activity. The cryptocurrency may rally if there is still a demand for it. 

For the altcoin, the $0.32 overhead barrier continues to be critical. The market value of all cryptocurrencies as of right now is $879 billion, which has changed by 0.0% over the previous day. 

One-Day Chart Analysis for Cardano 

On the one-day chart, Cardano was trading at $0.31, and at the time of publication, 

Cardano’s price has experienced an upsurge in buying demand over the past 24 hours. At $0.32, immediate resistance for ADA is anticipated. There is a potential that ADA will increase by 18% after passing the aforementioned price level and turning it into a support floor. 

The asset price will increase if it rises above the $0.32 price level, first to $0.36 and subsequently to $0.38. On the other hand, if ADA is unable to surpass $0.31, the currency will drop to $0.29. Cardano exchange volume in the most recent session was in the green, a sign that interest in the altcoin increased. 

Technical Analysis 

The buying strength for Cardano increased on the one-day chart. 

The coin has seen a small increase in buyers since November 26. A small boost in demand was indicated by the Relative Strength Index’s slight rise above the 40-point threshold. 

However, the buying strength is still indifferent. The altcoin’s price was lower than the 20-Simple Moving Average. This indication showed that sellers are still in control of the selling pressure and the market’s price momentum. 

Cardano’s one-day chart showed a declining trend. 

ADA has also seen conflicting indications on the one-day chart. The Awesome Oscillator started to show favorable price activity in response to the buying strength. The buy indication for the coin was represented by the green signal bars on AO. 

However, the Parabolic SAR indicated that prices were moving lower. The dotted lines were above the price candlestick, showing that the bears are still in control of the market’s price movement. For bullish forces to prevail, ADA must surpass the $0.32 mark.

Uniswap aiming for the $6 mark price 

The Uniswap price has experienced a change in price movement after two days of bullish price action. With a 0.9% decline during the previous day, price sentiment has turned bearish. 

At the time of writing this article, Uniswap was unable to surpass its $4.50 rigid resistance level. Investors may be able to make money if UNI prices rise over the predetermined level. 

However, at its immediate resistance of $5.49, the coin has had difficulty. For Uniswap to climb to its next price ceiling of $6, it must turn the crucial resistance into the support zone. 

The altcoin may lose its $4.99 support floor if Uniswap price cannot hold above $5.49. Invalidating the bullish momentum would cause the coin to fall to the next level. 

One-Day Chart Analysis for the Uniswap Price 

The price of Uniswap on the one-day chart was $5.46. 

At the time of writing, the price of UNI was $5.46. The coin almost crossed the $5.49 price threshold before a sell-off occurred. The cryptocurrency will lose momentum if it doesn’t trade over $5.49. To counteract the bearish momentum, buyers must come first. 

A breakthrough of $5.70’s overhead resistance would propel the altcoin to $6. If there is a downtrend, UNI will initially stay put at $4.70 before moving on. The latest session saw an increase in the volume of UNI traded, indicating a rise in demand. 

Technical analysis 

On the daily chart, Uniswap had a surge in buyers. 

Despite the indications continuing to be below the neutral zone, buyers have increased over the most recent trading sessions. This shows that there isn’t a lot of demand on the market just now. The relative Strength Index was above 40, indicating continued seller activity. 

If buyers seize control during the following trading session, UNI will resume its positive trend. In terms of buying power, UNI was below the 20-Simple Moving Average line, indicating that sellers were in control of the market’s price momentum. 

For the bulls to post a significant price increase, the De-Fi token must flip $5.70 to a support line. 

Uniswap’s one-day chart displays a sell signal. 

UNI has not yet managed to escape the bears’ control, as the currency suggested that a sell signal was present on the one-day chart. The convergence of moving averages Divergence shows trend changes and price momentum. The sell signal for the MACD was still being formed by red signal bars. 

The Directional Movement Index (DMI) showed a bearish trend since the -DI (orange) line was above the +DI (blue) line. The strength of the bearish thesis was shown by the average Directional Index (red) running over the 20-point level. A rise above $5.49 is still essential should the bearish argument be proven incorrect.