XRP showed a switch in momentum to the bearish side as the price flipped $0.55-resistance. Theta showed weakness in the market but still held on to support at $12.09. Lastly, UNI closed in on the $30-mark after bullish movement over the last 24 hours.
OBV registered higher lows and showed buying activity as XRP bounced back from $0.48-support. However, the region above $0.55 saw a sharp sell-off a few days earlier, and Awesome Oscillator registered a red bar at the time of writing. While the 24-hour trading volumes were north of $5 Billion, they were down by 8.4%.
The next few sessions would likely see the buyers and sellers battle for control of the market as XRP consolidates above its press-time support. Short-term target for the bulls lay at $0.62, but XRP might need to overcome some selling pressure before seeing higher levels.
While Theta did recover above the $12 mark after a delay in its 3.0 mainnet launch, gains were capped at the upper ceiling of $13.62. ADX pointed lower from 34 and while this reading still showed an uptrend in the market, it also indicated that the bulls were losing strength. The same was backed a bearish twin setup on Awesome Oscillator. The trading volumes took a beating over the last 24 hours and nearly halved at press time.
In the event of a pullback, levels to look out for were $10.6 and $9.08. This could also see Theta lose out on its top 10 crypto-rankings but with strong technicals to back its price, a rise towards the $40-mark was possible over the long-run.
A look at Uniswap’s 4-hour chart showed bullishness as the price approached the $30-mark. RSI highlighted oversold conditions in the market after the price moved below $26. This was quickly negated as buyers boosted the price north. While OBV did notice an uptick in buying pressure, the index was quite distant from where it once traded when UNI was at record levels.
The volumes clocked in at $635 million, down by 21% compared to yesterday. Much focus would be on the volumes over the coming week, and a rise in the same would likely see UNI head towards its ATH.
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