Ethereum was under selling pressure that forced it to fall below $ 2000. Uniswap showed that its bullish momentum had weakened in the short term and Dogecoin halted its slow descent and found a support level.
On the 1 hour chart, ETH broke out of a rising channel it has been trading in the past few days. The $ 1950-2050 region is highlighted as a supply area. The bulls would need to switch to a demand area.
The RSI drops below neutral 50. And it shows an ongoing downtrend. As ETH formed a higher low. But the 23.6% retracement level was held as support. Another visit to the area for $ 1,875 seemed likely.
A quick payback would need an area of $ 1875 to $ 1900.
Uniswap jumped over 50% the day before to hit record highs of $ 32.9. The bullish momentum weakened and UNI was unable to advance further in the intraday outlook.
The MACD formed a bearish cross and started showing bearish momentum that slowly rose even as UNI dipped to $ 27 and tried to recover with a retest of $ 32. At the time of writing, there was no clear buy or sell signal yet. Good buying opportunities are found at the confluence of Fibonacci retracement levels, for example at $ 25 or $ 23.7.
Dogecoin has slipped lower in the charts in recent weeks. The Awesome Oscillator showed minimal momentum and Bollinger Bands remained stable and close to price. The volume of trade has also been consistently low.
The 50 SMA (yellow) was moving above the 20 SMA (white), however, the support level of $ 0.054 has kept sellers at bay in recent days.
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