Dot, Dogecoin And Uniswap Surge In Value!

DOT ANALYSIS: OCTOBER, 2021

Market Structure:

Dot is a cryptocurrency which governs, operates and regulates the Polkadot blockchain. Here’s the market structure of Dot.

Dot is trading at $40.97. The market structure of Dot is extremely bullish as the coin is trading near its all-time highs. It is just 25% away from its May high of $50. In addition to this, Dot has been making higher-highs and higher-lows on the daily chart. An institutional candle of imbalance was formed which needs to be filled to grab liquidity. The coin may retrace to the levels of $37.62 and $35.44 as per the Fibonacci retracement levels. Then, it may continue its trajectory towards the all-time highs and beyond.

On the hourly chart, the coin has been consolidating in the formation of a symmetrical triangle. The consolidation is becoming narrower, thus hinting at a possible breakout or a breakdown of the trendline. Since the area of imbalance has to be filled, the chances of a breakdown of the support is more likely.

Dot analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price weakness for the coin in the short-term. The hourly RSI is below the neutral region according to the lower-low formation. It stands at 46.49 and has the potential to go higher.

The MACD is above the signal line due to a reversal from the underlying support trendline.

Dot analysis
Source: tradingview

Conclusion:

On the breakout and close above $41.37, $42.15 and $42.88 are the targets on the upside.

On the breakdown and close below $40.41, $39.52 and $39 are the targets on the downside.

DOGECOIN ANALYSIS: OCTOBER, 2021

Market Structure:

Dogecoin is a cryptocurrency that was developed as a joke against Bitcoin and the cryptocurrency ecosystem. Here’s the market structure of Dogecoin.

Dogecoin is trading at $0.2475. The market structure of Dogecoin is indecisive as the coin is trading near its previous structure point. In addition to this, the sellers are active near that structure as the coin made a huge long upper shadow candle on the daily chart. Although the bullish volumes were thrice the average volumes, the coin closed well below its intraday high of $0.2730. However, the buyers are also strong as the coin is rising along a rising lower trendline. The immediate resistance is placed at $0.2562.

On the hourly chart, the coin made an order block between the range of $0.2383 to $0.2407 as the price soared by as much as 13.5% in early trade. However, the rejection was also strong as the sellers drove the prices back to intraday low. The coin is likely to test the aforementioned demand order block to grab buyer liquidity.

Dot analysis Dogecoin
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price weakness for the coin in the short-term. The hourly RSI is below the neutral region according to the lower-low formation. It stands at 48.04 and has the potential to go lower.

The MACD is below the signal line due to the rejection from the overhead resistances.

Dot analysis Dogecoin
Source: tradingview

Conclusion:

On the breakout and close above $0.2495, $0.2544 and $0.2607 are the targets on the upside.

On the breakdown and close below $0.2455, $0.2400 and $0.2350 are the targets on the downside.

UNISWAP ANALYSIS: OCTOBER, 2021

Market Structure:

Uniswap is a cryptocurrency that regulates and operates on the decentralized exchange, Uniswap. The market structure of Uniswap is mildly bullish as the coin has broken its previous structure point by a thin margin. The coin is rising in value along an ascending lower trendline. Uniswap is facing immediate supply between the zone of $27.31 and $27.98. The coin needs to break and close above this zone on the daily chart in order to gain more bullish momentum. The current volumes are below average but the rising 20-day exponential moving average is somewhat sponsoring the rally.

On the hourly chart, the coin faced a rejection which drove it down to the trendline support. However, the coin is showing signs of reversal as it made equal highs on the lower-time frame, indicating that it has finally bottomed out. The coin will head towards its supply zone again and may give a breakout soon.

Uniswap analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price strength for the coin in the short-term. The hourly RSI is slightly above the neutral region. It stands at 49.31 and has the potential to go higher.

The MACD is above the signal line as the coin looks to break out.

Uniswap analysis
Source: tradingview

Conclusion:

On the breakout and close above $26.32, $27.11 and $28.02 are the targets on the upside.

On the breakdown and close below $25.11, $24.5 and $24 are the targets on the downside.

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