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Price analysis: Binance Coin, UNI and Polkadot – April 21

Altcoins are gradually recovering from the fall of the market over the weekend

Thanks to its overwhelming dominance in the market, Bitcoin’s price performance often has a strong impact on the rest of the market’s altcoins. However, this impact is never uniform or consistent, with the same evident in the last few hours as well. While some alts appeared to be recovering slightly so far, the BTC has yet to see a significant upward trend after falling below $ 60,000.

Binance Coin [BNB]

Source: BNB / USD no TradingView

Binance Coin, the world’s largest exchange token, has risen dramatically in recent months, with the price pushing BNB upward in the CoinMarketCap ranking. In fact, its bullishness has been so exponential lately that the BNB often ignores the bearish general market. This has also been the case in the past few days, with BNB rising more than 36% in a matter of days, as corrections have declined.

In doing so, BNB’s price action was very contrary to those observed by other altcoins, with the latter registering much more inconsistency in the last trading hours.

Binance Coin’s scale of market optimism was highlighted by the findings of its technical indicators. While the Parabolic SAR’S dotted markers were below the price candles, the Awesome Oscillator histogram noticed an increase in dynamics after it dropped below the midline.

With the metrics of the chain expecting the BNB rally to be long, it can also be a good time to buy the token.

Uniswap [UNI]

Source: UNI / USD no TradingView

UNI, the leading DeFi currency on the crypto market, had an upside-down April. While the first week of the month saw altcoin being traded strictly within a narrow price band, the last week or more saw a lot of volatility. UNI was also affected by the Bitcoin-led corrections that took place a few days ago. At the time of writing, however, some recovery was needed, with the alt rising 10% in a matter of hours.

While the mouth of the Bollinger Bands was closing to suggest that some volatility was coming, the Chaikin Money Flow was close to 0.10 and underlined the strength of capital inflows in the market.

Polkadot [DOT]

Source: DOT / USD no. TradingView

Polkadot [DOT] reached its ATH of more than $ 47 just a few days ago. Since then, however, the corrections have significantly reached market value, with the cryptocurrency quoted at just over $ 34 on the price lists. Although the alt has risen more than 9% in the past few hours, it has not yet been clear whether this would amount to a reversal of the trend, since the last price candle was issuing bearish signals.

In fact, DOT indicators suggested that such a reversal was unlikely to happen, because while the dotted parabolic SAR markers were above price candles, Chaikin Money Flow was well below zero to highlight the strength of capital outflows in the market .

Source: AMBCrypto

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