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November 27, 2022
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Guide & Analysis

What will be the trajectory of Polkadot, Uniswap and VeChain?

Polkadot’s upside channel closed in a major resistance area at $ 46-49. Uniswap could break south of a descending triangle and reach $ 35. VeChain’s breach was denied above $ 0.252 and another attempt to resume a high seemed unlikely.

Polkadot (DOT)

Source: DOT / USD, TradingView

Since the end of April, Polkadot has seen an upward trend that has seen him rise from $ 28.5 to $ 43.8 in just two weeks. During this jump, an upward channel formed on the daily schedule and approached a crucial moment. If the DOT is able to exceed the $ 46-49 level in the next few days, the price is likely to skyrocket north and cancel this bearish formation. The OBV has moved within a downward channel since the end of February, with buying pressure on a downward trend. This could happen and the lower buying pressure could deny a break above the aforementioned ceiling.

On the other hand, OBV can also peak if it manages to rise above the upper trend line. With that, the DOT can reach $ 55-60. Awesome Oscillator has seen bullish momentum, but not enough to justify a favorable outcome yet. When a breakdown occurs, support levels are $ 38.5, $ 35 and $ 28.5.

Uniswap (UNI)

UniswapSource: UNI / USD, TradingView

Within 4 hours, Uniswap made lower highs and traded within a descending triangle. If the $ 38 mark is turned sideways, a settlement may occur for $ 35. This support coincided with the 200-SMA (green) and a move below the long-term moving average could cause UNI to fall. near the lows of late April.

The buying momentum is on the wane and this was highlighted by an awesome downward tilting Oscillator. Capital outflows were also strong, as Chaikin Money Flow remained below the midline and showed a reading of -0.07. To allow for an optimistic result, UNI first needed to retake the region above $ 41.6. An increase above $ 45 could generate more purchases, but that was unlikely in the next few days.

VeChain (VET)

Source: VET / USD, TradingView

A symmetrical triangle break showed gains of more than 13% from the upper trendline, but VeChain was unable to take full advantage, as the $ 0.252 level was still in the hands of the bears. The 4-hour chart showed consecutive red candles, with sellers denying higher.

The green bars of the Squeeze Momentum Indicator decreased, but the white dots still indicated some volatility in the market. The RSI fell below the overbought zone and could continue to drop to 50. If $ 0.252 is recaptured by the bulls, the VET could rise above $ 0.27. A spike in 24-hour trading volumes would lead to another price fluctuation.

Source: AMBCrypto

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