- Avalanche is an open, programmable smart contracts platform for decentralized applications.
- The Uniswap Protocol is an open-source protocol for providing liquidity and trading ERC20 tokens on Ethereum.
Currently trading at $114.66, Avalanche is down by 7.4%. Avalanche on the daily chart shows a bearish flag pattern. The coin started the day at $122.99 levels. If we look at the daily chart of Avalanche today, we see the coin to be mildly bearish. The coin tested the first major resistance at $122.65 levels, however left the second resistance levels untested. The first major support was untested and the coin rose up till $120.83 level before rallying down. It tested the second major resistance at $115.97 levels.
Hourly RSI: The hourly RSI is currently at 50 levels, showing price strength increasing owing to pressure from investor’s side.
Fibonacci Retracement levels: 23.6%: $119.75, 38.2%: $124.09, 61.6%: $133.25
Major support level: $111.40
Major resistance level: $129.07
On the upside prices may move towards $130 levels. The first major resistance sits at $119.80. In event of an extended rally upwards, the second major resistance sits at $123.11 levels. Barring an extended crypto rally, the first major resistance is likely to cap the upside. On the downside a fall below $115.96 levels, will bring the first major support level $113.20 level in play.
Currently trading at $21.02levels, Uniswap is down by 5.32%. Uniswap has been declining since the day has started. The coin reached an intraday low at $20.87 levels, owing to dominance from buyer’s side. The coin started off the day at $22.31 with its intraday high at the same. The daily chart shows the coins bearish behaviour. The yellow trendline depicts the different resistance levels the coin tested on its intraday chart. The first resistance was tested at $21.85 levels. Without losing its momentum, it tested the second resistance level and reached $22.01 levels. During the time of writing, Uniswap is rallying further downwards, consolidating in a bullish flag pattern.
Hourly RSI: The hourly RSI is moving currently upwards, and is now 37 levels; showing major price weakness.
Fibonacci Retracement levels: 23.6%: $21.22, 38.2%: $21.43, 61.6%: $21.76
Major support level: $20.89
Major resistance level: $21.59
The first major support level sits at $20.90, a fall below that would bring the second major support level at $20.76 cushioning the breakout. On the upside, the resistance level sits at $21.59, barring a broad-based crypto rally.