• Thu. Feb 29th, 2024

Uniswap registered bullish price movements in October and extended its upward stance to mid-November sessions. However, the alt plummeted to form a bearish pattern after that. For now, the alt has been wavering at multi-month lows. While publishing this content, UNI trades at$14.47, following a 7% 24-hour plunge.

UNI/USD 4Hr Chart

Though Uniswap had tried to overcome the bearish price actions, the crypt met a massive obstacle at the 50% Fibo level. After rejections at this level, bulls dominated the market. The closest resistance level stood near $18.82, while the local support was $14.39.

The Relative Strength Index proves that buying momentum has been lower within the past few days. Moreover, Chaikin Money Flow stayed under the half-line, meaning capital outflows exceeded inflows. Also, the On Balance Volume supports that selling strength dominated the altcoin.

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SUSHI/USD 4Hr Price Chart

The past day had SushiSwap plummeting by 6% on its daily chart, hovering at $5.63. However, the outlook shows SushiSwap ran out of strength. The crypto flashed a descending channel, meaning downtrends.

SushiSwap failed to keep momentum despite creating a double top on 6 December. However, the alternative coin encountered sell-offs and resumed its downward mode. SUSHI will meet challenges moving beyond the 23.6% FIB level. Furthermore, further declines might see the token exploring $5.11. Other resistance levels stand at $8.29, then $10.19.

Meanwhile, the RSI shows that selling momentum overpowered bullish strength. Moreover, MACD indicated that the crypto moved towards a bearish cross as green histograms declined.

COSMOS/USD 4Hr Chart

COSMOS exchanged hands near $21.66 after losing 7.4% within the past day. Nevertheless, crypto has recorded lower troughs lately. The price chart shows the pair created a descending triangle, confirming continued downtrends. The last 72 hours had COSMOS displaying a double bottom, showing intense selling strength and price falling beneath the support of $21.85.

The coin has its immediate resistance at $26.03, then $30.55. The RSI remained under the half-line, indicating sellers dominating the network. Moreover, MACD flashed a bearish cross and red histogram, solidifying the downward price movements. Meanwhile, Chaikin Money Flow suggested capital inflows recovery at the moment.

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