Uni, Rune And Link Break Structures

UNI ANALYSIS: SEPTEMBER, 2021

Market Structure:

Uniswap is a decentralized finance protocol that is used to exchange and trade in cryptocurrency pairs. Here’s the market structure of Uni.

Uni is trading at $23.53. The market structure of Uni is bearish as the coin is making lower-highs and lower-lows on the daily time frame. In addition to that, the coin is down 25% from its recent swing high in August. Looking at the current trajectory, Uni may top out around $25 and then continue its downward movement to a new lower-low below $18.5 in the coming weeks. A huge support exists between $22.89 and $23.5.

On the hourly chart, the coin is consolidating in a flag pattern after having witnessed an unusual surge of 20.5% in an hour. The upper end of the channel, $24.3, marks the immediate resistance while the lower end, $22.24, marks the short-term support for the coin. A break on either side will determine where the coin will move in the coming weeks.

Uni analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price strength for the coin in the short-term. The hourly RSI has surged above the neutral region. It stands at 56.25 and has the potential to go higher.

The MACD is above the signal line, indicating that the coin may breakout from the upper trendline acting as a resistance.

Uni analysis
Source: tradingview

Conclusion:

On the breakout and close above $24.24, $25 and $25.33 are the targets on the upside.

On the breakdown and close below $23.14, $22.29 and $21.78 are the targets on the downside.

RUNE ANALYSIS: SEPTEMBER, 2021

Market Structure:

Rune is a base currency which is required for every asset transaction that takes place on the Thorchain Blockchain. Here’s the market structure of Rune.

Rune is trading at $6.785. The market structure of Rune is bearish as the coin is making lower-highs and lower-lows on the daily time frame. In addition to that, the coin has lost half its value as it fell from roughly $12.5 to $6.785 within two months. The bears are in full control of the coin as the volumes and the falling 20-day exponential moving average depict the same. Moreover, the coin has broken the previous lower-low structure and is ready to make a new low.

On the hourly chart, the coin has swiftly drifted below all supports and demand zones. The last support for the coin at the horizon is between $6.4 and $6.55, on the breakdown of which the coin will plummet heavily. The coin seems to have topped out at $6.865 and made a lower-high on the lower time frame. The short-term outlook looks bearish from here on out.

Uni analysis Rune
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price strength for the coin despite being highly volatile. The hourly RSI has surged above the neutral region. It stands at 53.13 and has the potential to go down.

The MACD is above the signal line, hinting that the coin might break the previous lower time frame structure, although unlikely.

Uniswap analysis Rune
Source: tradingview

Conclusion:

On the breakout and close above $7.088, $7.207 and $7.342 are the targets on the upside.

On the breakdown and close below $6.715, $6.5 and $6.225 are the targets on the downside.

LINK ANALYSIS: SEPTEMBER, 2021

Market Structure:

Link is an open-source technology that is collectively designed by a number of researchers. Here’s the market structure of Link.

Link is trading at $24.19. The market structure of Link is bearish as the coin is unable to make higher-highs. However, the coin did defend the previous lower-low structure point on the daily time frame. The trend will only gain bullish momentum if Link closes above $25.55. Else, the coin will eventually top out and continue its downward trajectory.

On the hourly chart, the coin is showing extreme strength as it followed a standard break of structure, return to origin and markup procedure. The buyers have formed a rather strong order block between $22.02 and $22.36 from where Link surged over 10%. Now, the coin is likely to retest an untested demand zone and mitigate the areas of imbalance.

Chainlink analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating extreme price strength for the coin. The hourly RSI is hovering near the overbought region. It stands at 65.78 and has the potential to go higher.

The MACD is above the signal line, highlighting the possibility of further upside in the short-term.

Chainlink analysis
Source: tradingview

Conclusion:

On the breakout and close above $24.38, $25 and $25.5 are the targets on the upside.

On the breakdown and close below $23.68, $23 and $22.438 are the targets on the downside.