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MATIC Rises Again, Will It Target The Psychological Level Of $1?

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MATIC Rises Again, Will It Target The Psychological Level Of $1?

MATIC has been on a bullish streak over the past week now. Despite the bullish streak, it hasn’t been able to move past the $1 psychological level. Technical indicators have remained bullish on the chart and pointed towards chances of reaching the $1 price ceiling.

Over the last week, MATIC surged 22% and on the daily chart the coin moved up by 7%. MATIC had managed to touch the $0.97 mark however a small fall in buying strength caused the altcoin to fall on the chart briefly. Buying strength was positive displaying that bullish strength hadn’t faded away.

A pullback can bring MATIC down to the $0.77 level. If buying strength remains consistent, then the coin can attempt to break above the psychological price ceiling of $1. At press time, MATIC had secured itself above the $0.75 support line.

The global cryptocurrency market cap today was at $1.09 Trillion, a 2.6% positive change in the last 24 hours.

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MATIC Price Analysis: Four Hour Chart

MATIC was priced at $0.87 on the four hour chart | Source: MATICUSD on TradingView

The altcoin was trading at $0.87 at the time of writing. The coin had briefly touched the $0.97 mark but was met with selling pressure. Overhead resistance for the coin stood at $0.92, a move above which could force MATIC to touch the $1.

Local support for the coin stood at $0.77, fall from that level will cause MATIC to reach $0.60. The amount of MATIC traded over the last trading session fell slightly which indicated that buying strength fell on the chart.

MATIC displayed positive buying strength on the four hour chart | Source: MATICUSD on TradingView

The altcoin had visited the overbought zone a couple of times, however as the coin fell in value buying strength dipped. At the time of writing, buying strength remained more than selling strength.

The Relative Strength Index was pictured above the half-line which meant that buyers were more in number.

Price of the altcoin was above the 20-SMA line which meant that the buyers drove the price momentum in the market. This was a sign of bullishness for the altcoin.

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Related Reading | Bitcoin Funding Rate Remains Positive, More Decline Soon?

MATIC displayed sell signal on the four hour chart | Source: MATICUSD on TradingView

The altcoin registered a small dip in buying strength and the technical indicator displayed the same. The Moving Average Convergence Divergence depicts the price momentum and change in that. MACD underwent a bearish crossover and formed red signal bars.

These red signal bars represent sell signal for the altcoin. Awesome Oscillator portrays the price trend and also points towards chances of a reversal, the green signal bars still represent bullish strength.

If the coin continues to keep up with the pace then buying strength has to support the coin. Broader market strength shall also help MATIC to achieve its psychological target of $1.

Suggested Reading | Polygon (MATIC) Looks Set For A Retracement After Recent Gains

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Featured image from The Face, chart from TradingView.com

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Monero Faces Pressure In Keeping Upward Pace – Will XMR Overcome Resistance?

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Monero Faces Pressure In Keeping Upward Pace – Will XMR Overcome Resistance?

Monero has its hands full trying to keep its momentum and rally forward. But, it must first overcome obstacles. As do other tokens.

The token is trying to keep up with the upward tilt. Remarkably, XMR price is trying hard to recover and keep up with the pace but it seems XMR is doing a great job as it’s currently on the green and winging it.

The daily price chart shows that XMR price is trying to soar upwards. Monero is gaining strides as it shoots up close to the top trendline of the channel. In order for XMR to rebound or go through the target resistance, the coin must maintain its current pace in terms of price.

Monero (XMR) Price Surges 4.33%

For XMR to shoot hoops at a bullish pace and breach the ascending parallel channel, the XMR bulls must push through its upward movement. However, it seems the bears are attempting to weaken the XMR market.

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With a frail market, it is challenging for XMR and other cryptocurrencies to recover. XMR investors must hold it off until such time that the bulls can maneuver and maintain the current position found at the top trendline of the ascending parallel channel.

According to CoinMarketCap, Monero price is currently trading at $167.68 or showing off an increase of 4.33%. Trading volume was seen to drop by 6.88% as depicted in the intraday trading session. As of press time, bears try to drag the token towards the lower trendline of the ascending channel.

Bulls’ Accumulation Pivotal For XMR Price Rally

It would need more buyers for XMR price to leap quickly closer to the top trendline of the channel. But, the volume change also indicates that boosting the bulls’ accumulation is pivotal for XMR price to surge. For XMR to show significant recovery on the daily price chart, XMR price must move closer to the upper trendline.

The daily price chart for XMR price shows the formation of a rising parallel channel. More so, the technical indicators for Monero show the token’s downward trend in terms of momentum. RSI at 58 also shows a downward movement for XMR which is gearing close to a neutral zone.

MACD is showing the downward movement of XMR as it glides under the signal line following a failed crossover. Hence, XMR investors will need to wait on the sidelines for any changes on the daily chart.

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XMR total market cap at $3.02 billion on the weekend chart | Source: TradingView.com    Featured image from The Market Periodical, Chart from TradingView.com

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Uniswap Price Falls Below $9 After It Met With A Sell-Off, What’s Next?

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Uniswap Price Falls Below $9 After It Met With A Sell-Off, What’s Next?

Uniswap price at the current moment has displayed a downward movement on its chart. The coin lost the $9 price mark and was moving closer to its local support level.

Over the last 24 hours, UNI depreciated considerably by 6%. Most gains that UNI logged were lost over the past week.

The technical indicator for UNI has depicted mixed trading signals. The buyers in the market have left owing to the recent fall in price.

For Uniswap price to pick up momentum, buying strength and demand for the coin remain quite crucial.

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As selling pressure mounted, UNI started to flash bearish price signals on its chart. The price of the altcoin needs to experience a breakout for the bulls to drive the price momentum.

The coin broke below its $8.40 support line and fell below that. An increase in demand for the coin can help UNI recover over the next trading sessions.

Uniswap Price Analysis: Four-Hour Chart

Uniswap was priced at $8.30 on the four hour chart | Source: UNIUSD on TradingView

The altcoin was priced at $8.30 at the time of writing. Uniswap lost its immediate support line and the bears have changed that level to a resistance mark for the coin.

Overhead resistance for the altcoin was at $8.76, however, a tough price ceiling for the altcoin was at $9.30.

The coin has tried to break past the mentioned price mark a couple of times but was met with sellers in the market. The immediate price floor for the coin stood at $7.80.

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Although over the past few weeks UNI has recovered considerably, the demand for UNI has to keep growing.

The volume of UNI traded in the last session has declined as there has been a fall in buying strength.

Technical Analysis

Uniswap depicted a small rise in buying pressure on the four hour chart | Source: UNIUSD on TradingView

UNI had moved closer to the oversold zone over the last trading sessions, however, it did not touch that zone. At the moment, the coin has low buying strength but the coin was not overbought.

The Relative Strength Index noted an uptick below the half-line signifying that the demand for the altcoin could register an increase over the next sessions.

Uniswap price was seen below the 20-SMA line, this signalled bearishness in the market. It also depicted that the sellers were driving the price momentum in the market.

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Uniswap painted sell signal on the four hour chart | Source: UNIUSD on TradingView

The altcoin has flashed bearish signals on most technical indicators. UNI registered a sell signal on the four-hour chart. Moving Average Convergence Divergence depicts the price momentum and change in the momentum.

As demand for UNI has remained low, MACD underwent a bearish crossover and displayed red histograms.

The red histograms were sell signal for UNI. Chaikin Money Flow determined the capital inflows and outflows.

CMF was below the half-line as capital inflows were less than outflows at the time of writing. With increased demand and buying strength, the coin will attempt to move up on its chart.

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Chainlink Price Above $8, Can It Go Past Its Immediate Resistance?

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Chainlink Price Above $8, Can It Go Past Its Immediate Resistance?

Chainlink price has been trading in an upside channel over the past few trading sessions. The altcoin has managed to move past the $8 level, it is now eyeing the next important resistance mark. The technical outlook of the coin has turned positive as buying strength increased on the chart.

Over the last 24 hours, the coin moved up the chart by 2% and in the past week, LINK logged 14.7% appreciation. Chainlink price also managed to revisit the $8.80 mark however, the coin has experienced tough resistance at that price mark.

For Chainlink to move past the aforementioned price ceiling, buying strength has to remain high in the market. Once LINK topples over the $8.80 price ceiling, it could target $9, thereby, invalidating the bearish thesis completely. It is important to note that a small dip in demand for the altcoin can bring back the bears

Chainlink Price Analysis: Four-Hour Chart

Chainlink price was at $8.70 on the four hour chart | Source: LINKUSD on TradingView

LINK was priced at $8.72 at the time of writing. The altcoin retraced briefly after it touched the $8.80 price mark. The immediate price ceiling for LINK stood at $8.80 and a push above that level will propel Chainlink’s price to $10.

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The local support level for LINK was at $8.16 and a fall below that will make the coin trade near the $7.60 price mark. The amount of Chainlink traded in the past session increased. This reading meant that bullish pressure had started to build in the market and that buying strength increased over the last trading sessions.

Technical Analysis

Chainlink depicted increased buying strength on the four hour chart | Source: LINKUSD on TradingView

The altcoin has depicted trading on an upside in an ascending trendline. Chainlink price formed higher highs and higher lows signifying positive price change.

If LINK doesn’t break past the immediate resistance mark, the coin can lose its current price momentum.

The altcoin had just visited the overbought zone after which it travelled south briefly. The Relative Strength Index was positive above the 60-mark depicting increased buying strength.

Chainlink price was above the 20-SMA line. A reading above the 20-SMA line indicates that buyers were driving the price momentum in the market.

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Chainlink flashed buy signal on the four hour chart | Source: LINKUSD on TradingView

LINK has depicted an increased buy signal on the four-hour chart. Indicators also captured the increase in demand. Moving Average Convergence Divergence portrays the current price momentum and possible reversals in the same. MACD underwent a bullish crossover and formed green signal bars on the indicator.

These green signal bars are buying signals for the coin. If buyers continue to act on it, the Chainlink price could soon topple over $8.80. Parabolic SAR depicts the trend, the indicator, however, hasn’t painted a positive picture. It started to form a dotted line above the candlestick, this could be in the anticipation of a fall in price over the next trading sessions.

Featured image from Yahoo Finance, chart from TradingView.com

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