Uniswap, Tron, and Aave after experiencing a price dip on June 7, are making steady gains. Likewise, the total crypto market cap which had fallen by almost 15% post the June 7 drop is making a slow recovery.
Uniswap and Aave depicted signs of opening up as their volatility saw a moderate increase, whereas Tron’s price saw more sideways movement, and its short candlesticks pointed towards reduced volumes.
Uniswap[UNI]
Source: UNI/USD, TradingView
UNI saw a 19% price fall on June 8 and was showing steady signs of recovery at press time. Awesome Oscillator displayed an all-over bearish momentum, however, the appearance of green bars at the time of writing indicated bullish momentum creeping in.
The asset barely maintained its position in the top ten coin ranking on CoinMarketcap and saw a 16.22% 7-day price dip. Bollinger Bands for UNI opened up, suggesting an increased price range for the asset.
Further, uptick of Average Directional Index (ADX) displayed positive cues. The red line indicator remained above 25.0, suggesting that the market was showing a strengthening trend. If the asset’s price rallies, it could reach resistance at $29.1.
Tron[TRX]
Source: TRX/USDT, TradingView
Tron was trading at $0.0724 at press time and was ranked 24 on CoinMarketCap’s rankings. TRX saw a 9% price fall from June 7 and its recent sideways price movement with short-candlesticks suggested a slow recovery from the same.
TRX’s price has been fluctuating between the $0.0675 support and $0.084 resistance levels since May 24. If its price crosses the $0.084 resistance level, it could see a hike to the next major resistance level at $0.129, however that seemed unlikely at press time. Parabolic SAR’s dotted lines above the candlesticks highlighted a bearish momentum.
Additionally, Relative Strength Index for the asset highlighted that selling pressure was dominant. However, the indicator depicted a slight uptick which could mean that the gap between buying and the selling pressure was reducing.
Further, Squeeze Momentum Indicator pointed towards a receding bearish pressure. With the recent appearance of Squeeze release (indicated by white dots) and the appearance of a dark red bar, this could mean that a recovery could be in store for TRX.
Aave [AAVE]
Source: AAVE/USD, TradingView
After the price drop on June 7 which led Aave’s price to fall by almost 16.6%, the asset was experiencing slight recoveries. Aave ranked 28 on CoinMarketCap and saw a 0.84% price rise in the past 24 hours whereas it went through a 14.31% price dip in the last week.
Relative Strength Index for Aave highlighted its recovery from the oversold zone. Selling pressure was still dominant for the asset as the indicator lingered around 40 at press time. However, a slight uptick was observed in the indicator which pointed towards building up buying pressure.
Parabolic SAR’s dotted lines above the candlesticks highlighted a bearish momentum. Furthermore, Chaikin Money Flow was below the zero-line, pointing towards more capital outflows than inflows.
