Analysis
Dogecoin, XRP, UNI Price Analysis: 30 June
Towards the end of 27 June, XRP and Uniswap started seeing decent gains. XRP saw an almost 20% price hike whereas UNI, at the same time, registered 18% gains. Dogecoin’s price too appreciated somewhat, however, it did so within a more restricted range and it failed to breach the $0.3-resistance mark.
The aforementioned altcoins have all been in the news lately for different reasons. Fetch.ai’s recent collab that launched ‘Intelligent Automation’ for Uniswap V2 was in news. On the contrary, Ripple’s co-founder (ex-CTO) Jed McCaleb dumped around 240 million XRP holdings and made headlines for the alt.
Dogecoin [DOGE]
DOGE‘s chart pictured a few
decent recoveries after the 21 June drop, and its price maintained itself above the $0.238 support level. However, the alt was down 65.85% from its ATH with a breakeven multiple of 2.93. DOGE was trading at $0.25, at press time, and was ranked sixth on CoinMarketCap.The Parabolic SAR for DOGE showed white dots appearing below the candlesticks, with the same highlighting bullish momentum for the alt and corresponding to the slight price gains seen on 29 June. On the contrary, the MACD and Signal lines underwent a slightly bearish crossover, at the time of writing. If the price falls further, the support at $0.238 can be tested.
Finally, the Average Directional Index (ADX) was at 27.6 at press time and highlighted a moderately directional market. Once the ADX is under 25, a stronger trend can be expected, one which might push the asset’s price up.
XRP
XRP’s chart noted a decent recovery with a 24-hour price hike of 3.23% and 7-day gains of 5.00%. The Bollinger Bands for the asset noted a divergence, one pointing to increased volatility and an expanded price range as the asset made recovery from its lower lows. The alt was ranked seventh on CoinMarketCap and was trading at $0.678, at press time.
The Squeeze Momentum Indicator for the altcoin noted an active squeeze release (white dots), coupled with the appearance of dark green bars pointing to a bearish trend in store for the asset. On the four-hour chart for XRP, the appearance of two red bars pictured slight price dips for the asset.
The Relative Strength Index for XRP was heading towards the neutral zone after oscillating in the overbought region. RSI’s downtick underlined an increase in selling pressure, one which pulled the asset from the overbought zone. However, buyers were still dominant at press time for XRP.
Uniswap [UNI]
Uniswap was trading at $18 at press time and was down 59.47% from its ATH with a breakeven multiple of 2.47. The alt has oscillated between $15.65 support and $18.9 resistance since the 21 June price drop. However, UNI’s almost 18% price rally led the asset to test the $18.9 support on 29 June.
Capital inflows for the asset were good, according to the Chaikin Money Flow. The indicator stayed above the zero-line at press time, keeping inflows dominant. However, at the time of writing, outflows had crept in, as highlighted by the sharp downtick of the indicator.
The Bollinger Bands for the asset noted a divergence, one pointing towards a hike in volatility and an expanded price range. Further, bearish momentum could be observed building on the Awesome Oscillator with the appearance of red bars.
