Bitcoin has been able to sustain the uptrend from lows around $31,000 last week. The bellwether cryptocurrency had pulled the entire market into a dip, but the recovery toward the end of last week saw altcoins gasping for air. It is believed that the massive buy orders could be triggered in the cryptocurrency market as soon as BTC breaks above $40,000.
Dogecoin seems to have settled above $0.3, allowing bulls to focus on lifting to higher levels. The weekend session has been chiefly mundane, but the meme coin is up 3.7% to trade at $0.32. According to the four-hour chart, sideway trading action is likely to take precedence in the coming sessions.
However, the Moving Average Convergence Divergence (MACD) indicator hints at the bulls’ upper hand. Although the trend momentum indicator is stuck beneath the zero line, the MACD line (blue) holds above the signal line.
As long as support at $0.3 remains intact, DOGE bulls will focus on lifting above the key 100 Simple Moving Average SMA) resistance at $0.34. Trading above this level may raise Dogecoin toward $0.4.
DOGE/USD four-hour chart
Uniswap’s four-hour chart is presenting multiple buy signals, insinuating a possible breakout in the coming sessions. The recent support at $20 allowed bulls to concentrate on pulling the price higher. The MACD has a vivid bullish impulse, as shown in the chart, whereby the MACD line (blue) holds the divergence above the midline.
At the time of writing, Uniswap trades at $22.9 while dealing with the barrier at the 50 SMA. Note that trading above this level would catapult UNI toward the next hurdle at $25. Finally, it is worth noting the buy signal from the SuperTrend indicator, implying that more buyers may flock to the market as investors anticipated gains above $30.
UNI/USD four-hour chart
Meanwhile, the resistance at the 50 SMA must come down to allow more gains in the coming session. However, if unbroken, overhead pressure may start to mount, leaving the support at $20 vulnerable. Note that losses could also extend to $15 and $13, respectively.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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