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Analysis

Uniswap, EOS, Compound Price Analysis: 14 March

Akashnath Sumukar

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Source: Pixabay

Uniswap climbed past $44 but was driven back lower as demand was unable to keep up with the price. EOS tested the $4.4 area of supply and Compound was in a downtrend over the past few days.

Uniswap [UNI]

Uniswap, EOS, Compound Price Analysis: 14 March

Source: UNI/USDT on TradingView

Over the past couple of days, UNI has recovered with momentum after falling to $29.2. Since then, it has climbed past the $30.5 and $31.7 levels of resistance, and even rose above $33 a few hours ago but faced rejection.

The reason for the rejection could be a lack of buyers. Looking at the OBV from when UNI was at $33 nearly a week ago, it can be seen that since then the selling volume has been greater than the buying volume. This lack of demand could see UNI pushed toward $32 once more before another move upward.

The RSI also showed a bearish divergence on the hourly chart, making the $32-$32.5 an area where buyers could step in after the dip.

EOS

Uniswap, EOS, Compound Price Analysis: 14 March

Source: EOS/USDT on TradingView

On the 4-hour chart, momentum appeared to side with the bulls as the Awesome Oscillator crossed over above the zero line. EOS also rose past $4 and met rejection at the $4.4 area of supply.

The Chaikin Money Flow showed net capital flow into the market, pointing toward buyer dominance. Trading volume has also been above average as EOS climbed past the $3.9 and $4 marks.

A possible scenario for EOS is a dip to $4.1-$4.15 area and another attempt to scale past the $4.4 area of supply. The ascending triangle (orange) pattern, which generally sees a bullish breakout, will likely see a weakened surge due to the pullback before the breakout of the past few days, making the $4.6 level a significant level of resistance.

Compound [COMP]

Uniswap, EOS, Compound Price Analysis: 14 March

Source: COMP/USDT on TradingView

Last week, COMP climbed above the $470 mark and the bulls tried to defend it as support but were overwhelmed. The loss of this level as support sparked a short-term downtrend to $430, where a strong bounce was seen to retest $470 as resistance.

At the time of writing, the DMI showed a bearish trend in progress, with the ADX and -DI both soaring above 20. The MACD was below the neutral line and could form a bearish crossover if COMP drops below $449.


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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.