Price Analysis Of Cosmos, Decred And Uniswap!

COSMOS ANALYSIS: JULY, 2021

Technical:

The Cosmos network has developed the Cosmos coin to provide a decentralized environment to online transactions. Here’s the price analysis of cosmos.

Cosmos is trading at $10.07. It has formed a symmetrical triangle on the daily time frame. The coin has made a lower-high and a lower-low on the same time frame, indicating heavy bearishness. Moreover, the coin has been making red candles since the past few weeks confirming the bearish trend. The coin is likely to trade between a range until either side is broken decisively.

The coin is trading below its 50-day and 200-day exponential moving average. Moreover the 50-day moving average has given a death cross below the 200-day moving average, which is a heavy bearish sign.

Furthermore, in the last week, the coin fell over 40% supported by major bearish volumes.

cosmos price analysis
Source: tradingview

Market sentiment:

The Relative Strength Index is indicating extreme price weakness for the coin. The RSI has smoothly drifted downwards. It is currently positioned at 38.75, with a potential to fall into the oversold zone.

The MACD is below the signal line, giving a ‘sell’ call to investors.

The price analysis of Cosmos is indicating bearishness.

cosmos price analysis
Source: tradingview

Conclusion:

On the breakout and close above $11.86, $14.68 and $17.22 are the targets on the upside.

On the breakdown and close below $9.89, $8.94 and $7.86 are the targets on the downside for Cosmos.

The price analysis of Cosmos is indicating a possible breakdown of the support.

DECRED ANALYSIS: JULY, 2021

Technical:

Decred coin is developed by the Decred network which aims to facilitate security in peer-to-peer transactions. Here’s the price analysis of Decred.

Decred is trading at $107.02. It has made two bearish patterns on the daily timeframe. The first one being a descending triangle formation for two months. Within this pattern the coin has also made a double top formation. Both these patterns indicate an upcoming bearish trigger in the short term.

The coin is trading below its 50-day and 200-day exponential moving average which is yet another bearish sign. Not only that but it is also facing immediate resistance from the former moving average.

The volumes are indicating indecisiveness as both bullish and bearish volumes can be seen in the daily timeframe. However, the edge remains with the sellers as the bearish volumes are above average.

Decred price analysis
Source: tradingview

Market sentiment:

The relative strength index is indicating weakness for the coin in the upcoming months. The RSI has been facing resistance and negative divergence from its upper trendline from its upper trendline. It is currently positioned at 38.17, with a potential to go lower.

The MACD is below the signal line, giving a sell call to investors.

cosmos price analysis
Source: tradingview

Conclusion:

On the breakout and close above $108.55, $124.98 and $148.13 are the targets on the upside.

On the breakdown and close below $105.36, $97.28 and $86.51 are the targets on the downside for Decred.

UNISWAP ANALYSIS: JULY, 2021

Technical:

Uniswap is a fully decentralized protocol for automated liquidity provision on Ethereum. Here’s the price analysis of Uniswap.

Uniswap is trading at $15.42. It has made a descending triangle type formation in the daily time frame. In the last week the coin saw massive selling from its resistance zone. Now, it is hovering near its support zone which ranges from $15.09 to $16.44. A double top type pattern can also be seen on the daily timeframe. This is yet another bearish indication for the coin.

Moreover, the coin is trading below its 50-day and 200-day exponential moving average. The 50-day moving average is likely to converge below its 200-day moving average and give a death cross.

The volumes are also indicating bearishness due to the continuity of the sellers in the market.

Uniswap analysis
Source: tradingview

Market sentiment:

The Relative strength index is showing extreme price weakness for the coin in the upcoming days. It has plunged almost to the oversold region due to the presence of sellers in the market.

The RSI currently stands at 36.54, with a potential to go lower.

The MACD is below the signal line, giving a ‘sell’ call to investors.

uniswap analysis
Source: tradingview

Conclusion:

On the breakout and close above $18.74, $20.92 and $23.57 are the targets on the upside.

On the breakdown and close below $15.09, $13.88 and $12.82 are the targets on the downside for Uniswap.