Price Analysis Of Unifi, Lon And Swipe!

UNIFI ANALYSIS: JULY, 2021

Technical:

Unifi token holders have the right to vote on referendums or proposals regarding the Unifi blockchain. Here’s the price analysis of Unifi.

Unifi is trading at $7.80. It has given a breakout of the inverted head-and-shoulders pattern on the daily time frame. The inverted head and shoulders pattern is a bullish reversal pattern. It has also given a retest of the previous resistance zone which has now turned into a support zone. The coin is highly bullish as it has given a 50% rally in a span of just four days.

The coin is trading below its 200-day exponential moving average and its 50-day exponential moving average. It is also taking resistance from the latter. A close above the 50-day moving average will confirm the breakout.

The breakout candle was facilitated with good bullish volumes, nearly twice the bearish volumes.

unifi analysis
Source: tradingview

Market Sentiment:

The Relative Strength Index is showing extreme price strength for the coin in the coming weeks. The RSI has smoothly moved upwards along the trendline. It currently stands at 53.33, with a potential to go even higher.

The MACD is sustaining way above the signal line, giving a ‘buy’ or ‘hold’ call to investors.

The price analysis of Unifi hints at more upside movement.

Unifi analysis
Source: tradingview

Conclusion:

On the breakout and close above $8.05, $9.69 and $10.68 are the targets on the upside.

On the breakdown and close below $7.53, $6.86 and $6.08 are the targets on the downside for Unifi.

The price analysis of Unifi hints at a continuation of the bull run.

LON ANALYSIS: JULY, 2021

Technical:

Lon is held in a treasury pool governed by its community to develop the blockchain. Here’s the price analysis of Lon.

Lon is trading at $2.22. It has been forming a descending triangle formation on the daily chart. It currently rests in the support range of $2.10 to $2.40. This zone has been providing good support for the coin since its inception. However, the descending triangle formation is a bearish continuation pattern and hints that the support may not be strong enough to show a reversal this time.

Lon is trading below its 50-day and 200-day exponential moving average. The long-term trend of the coin is bearish and will remain the same until either moving average is taken out.

The bears have the edge in the market since the bearish volumes are quite more than the bullish ones. The sellers are more active than the buyers.

Lon analysis
Source: tradingview

Market Sentiment:

The Relative Strength Index is showing extreme price weakness for the coin. It has entered and sustained in the oversold region. It currently stands at 23.34.

The MACD is below the signal line, giving a ‘sell’ call to investors. Investors should switch their funds to better coins.

lon analysis
Source: tradingview

Conclusion:

On the breakdown and close below $2.11, $1.70 and $1.41 are the targets on the downside.

On the breakout and close above $2.46, $2.94 and $3.64 are the targets on the upside for Lon.

SWIPE ANALYSIS: JULY, 2021

Technical:

Swipe coin is used on the swipe network which enables businesses to conduct digital transactions globally.

Swipe is currently trading at $1.71. The coin has been consolidating in the range of $2.62 and $1.68 since the past few weeks.

A worrisome sign is the death cross which has occurred recently. A death cross is the situation when the 50-day exponential moving average crosses below the 200-day exponential moving average. It indicates huge weakness for the coin in the next few months.

The bullish volumes are getting drier consistently with bearish volumes rising. The moving averages and the volumes suggest that the lower levels of the range are likely to be broken soon.

swipe analysis
Source: tradingview

Market Sentiment:

The Relative Strength Index is showing price weakness for the coin in the upcoming days. The RSI has given a breakdown below its trendline. It is currently positioned at 39.13. The RSI is likely to head towards the oversold region if the bearish volumes continue to flow.

The MACD, on the other hand, has crossed below the signal line. It is thus giving a ‘sell’ call to investors.

Indicators are giving mixed signals. Investors must look at the price actions on the chart to confirm a move on either side.

swipe analysis
Source: tradingview

Conclusion:

On the breakout of the upper level of $2.78 with good buying volumes, $3.07 and $3.61 are the targets on the upside in the medium time frame.

Although highly unlikely, upside is possible for swipe if the price finds support at the lower levels and bounces back again.

On the breakdown of the level of $1.34, $0.96 and $0.700 are the targets on the downside.