The world’s largest altcoin, Ethereum, traded in the red at press time after a minor selloff took place. Nevertheless, the price could revisit the $1,800 mark soon despite the bearishness. UNI was projected to regain the $20 level from the bears but gains could be capped at the $21.5 resistance. Finally, DOGE could lose out on another support level as the coin’s on-chain metrics flashed bearish signals.
Ethereum [ETH]
Source: ETH/USD, TradingView
Ethereum bulls lost out on $1,756 support after a minor correction saw the price drop by over 4%. The Stochastic RSI suggested that ETH could soon revisit the $1,800 level after a bullish crossover took place in the oversold zone. On the downside, the price may meet some resistance at the 50-SMA (yellow) in the short-term in case of a northbound move. The MACD line moved well below the signal line and the histogram noted an uptick in bearish momentum.
Although ETH’s bullish trend is likely to see the price trade at record levels soon, bears could delay the move on the charts.
Uniswap [UNI]
Source: UNI/USD, TradingView
Uniswap cushioned its losses at the $19 support after the price dropped by nearly 8% in the last 24 hours. The Awesome Oscillator presented some sell signals as the red bars moved below the half-line. However, some bullishness was observed in the past couple of sessions and the price could revisit the $20 mark. A bullish crossover in the Stochastic RSI backed the buyers moving forward.
However, stronger conviction was needed for the price to initiate an uptrend in the short-term. Instead, UNI could trade between the $20 and $21.5 range over the coming sessions.
Dogecoin [DOGE]
Source: DOGE/USD, TradingView
Dogecoin lost out on another record level as the downtrend continued. The dip in price was clear on the Parabolic SAR’s dotted markers, which moved above the candlesticks. Moreover, the bearish momentum was captured by the Awesome Oscillator as the red bars rose in length below the equilibrium mark.
Since buying activity also remained muted, there was a chance that DOGE could slip below its current support as well. On the other hand, a spike in buying pressure could see DOGE rise towards the $0.07 mark.
