Uniswap, Dot And Tezos Are Breaking Out!

UNISWAP ANALYSIS: SEPTEMBER, 2021

Market Structure:

Uniswap is a cryptocurrency which regulates and governs the cryptocurrency exchange, Uniswap. Here’s the market structure of Uniswap.

Uniswap is trading at $25. The market structure of Uniswap seems to be bearish as the coin has invalidated the previous structure points on the daily time frame. These structure points were formed at $26.28 and $25.08 respectively. Now, the coin must close above the former level so as to regain bullish momentum. Else, a sideways movement with a negative bias will be witnessed by Uniswap in the short-term. Moreover, it is likely that the coin will continue its downward trajectory in the form of higher-lows and lower-lows.

On the hourly chart, the coin has rallied significantly from the institutional order blocks. The previously valid supply zones have now become demand zones. These include the ranges from $22.90 to $23.13 and from $21.52 to $21.75. On the other hand, the supply zone is present between $25.03 to $25.5.

uniswap analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating price strength for the coin in the short-term. The hourly RSI is above the neutral region. It stands at 63.06 and has the potential to go lower.

The MACD is on the verge of crossing below the signal line, thus hinting at a reversal from the top.

uniswap analysis
Source: tradingview

Conclusion:

On the breakout and close above $25.32, $25.93 and $26.32 are the targets on the upside.

On the breakdown and close below $24.64, $24.06 and $23.5 are the targets on the downside.

DOT ANALYSIS: SEPTEMBER, 2021

Market Structure:

Dot is a cryptocurrency that governs, regulates and controls the Polkadot blockchain network. Here’s the market structure of Dot.

Dot is trading at $37.05. The market structure of Dot is extremely bullish as it has continued its trajectory despite the crash on September 7, 2021. The coin has made a higher-high after the crash swing low of $27.60. The coin mitigated all the loss suffered during the crash in the following days and made a new swing-high of $38.85. This shows that the buyers in the market are overpowering the sellers.

On the hourly chart, the coin has given a standard breakout and retest of the supply zone. This supply zone of $34.50 to $35.96 will now serve as an immediate demand zone. After the retest is complete, the coin will continue to rally further provided that Bitcoin supports the market.

uniswap analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating price strength for the coin in the short-term. The hourly RSI is above the neutral region slightly. It stands at 51.22 and has the potential to go higher.

The MACD is below the signal line owing to the retest of supply turned demand zone.

dot analysis
Source: tradingview

Conclusion:

On the breakout and close above $37.93, $38.76 and $39.5 are the targets on the upside.

On the breakdown and close below $35.98, $35.25 and $34.49 are the targets on the downside.

TEZOS ANALYSIS: SEPTEMBER, 2021

Market Structure:

Tezos is a cryptocurrency cum platform that aims to eliminate key barriers faced by other blockchains such as Ethereum. Here’s the market structure of Tezos.

Tezos is trading at $7.332. The market structure of Tezos is highly bullish as the prices have nearly doubled since September 7. That is, the coin rallied from $4 to $8 but failed to give a daily closing there. However, the buyers are in such control that they can drive the prices higher in the standard higher-high and higher-low formation. Moreover, the coin needs to close above $8 to continue its bullish trajectory. Else, the sellers might gain an edge and pause the ongoing rally.

On the hourly chart, the coin has reversed after a rejection from the overhead supply zone. It took support from the demand zone between $6.930 and $7.034. The coin needs to break either the supply or the demand zone in order to show good movement on either side.

Tezos analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating price strength for the coin in the short-term. The hourly RSI is above the neutral region. It stands at 51.51 and has the potential to move higher.

The MACD is on the verge of crossing the signal line thus showing a possible breakout on the upside.

tezos structure
Source: tradingview

Conclusion:

On the breakout and close above $7.529, $7.75 and $8.00 are the targets on the upside.

On the breakdown and close below $6.932, $6.825 and $6.700 are the targets on the downside.