Polkadot was rejected at range highs as the price made a weak attempt to break above, and was headed toward the $16.5 price level. Continuation of the downtrend of the past two weeks can not yet be ruled out for Dash as it bounced off a level of support, while Uniswap was in a strong uptrend and projected a target of $12.39.

Polkadot [DOT]

Polkadot, Dash, Uniswap Price Analysis: 24 January

Source: DOT/USDT on TradingView

DOT was trading within the range from $14.95 to $18.25. It saw a trading session close above it at $18.74 but the price was pushed back beneath the upper boundary over the past few hours.

Read Also:   PayPal CEO says the payments giant wants to be 'the digital wallet for global CBDCs'

The OBV showed that there was an equilibrium between buying and selling volume over the past ten days. The MACD also hinted that the past couple of days saw neutral to slightly bullish momentum for DOT. During the same period, trading volume has also been subdued.

Failure to break past the range highs would likely see DOT approach the mid-point of the range at $16.5 over the next few days.

Dash [DASH]

Polkadot, Dash, Uniswap Price Analysis: 24 January

Source: DASH/USDT on TradingView

Since posting the highs of $158 two weeks ago, Dash has been in a downtrend. The longest duration of a bounce in this time period was close to four days. The current bounce for DASH – off the $93 support level, saw the price rise to the 61.8% retracement level at $107.

Read Also:   Price analysis 11/9: BTC, ETH, XRP, BCH, LINK, BNB, LTC, DOT, ADA, BSV

If this bounce lasts longer than four days, it can be considered to be a possible recovery. If it drops before, then it will be confirmed to have been a bounce.

The $107 and $113 levels represent imminent levels of resistance. The RSI was below neutral 50 and showed that the downtrend was not yet broken.

Uniswap [UNI]

Polkadot, Dash, Uniswap Price Analysis: 24 January

Source: UNI/USDT on TradingView

Using the swing low and previous swing high at $4.39 and $9.93 respectively, Fibonacci retracement levels were drawn to plot levels of support. The price dropped to the 38.2% retracement level and found support in its vicinity.

A breakout past $9.4 projected a target of $12.39 for UNI, which is the 27% extension of its upward move from $4.39.

Read Also:   Bitcoin, Ice Baths and Meditation Keep Him Up

The Awesome Oscillator showed mounting bullish momentum, but the A/D indicator showed a bearish divergence as the price made a higher high while the A/D formed a lower high. A pullback is not confirmed, but $9 and $8.2 can offer buying opportunities if UNI sees a drop.


Download MAXBIT Android App, Your best source of all crypto news!
Google Play


Polkadot, Dash, Uniswap Price Analysis: 24 January

by Rose Battleson
Choose A Format
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format