Bitcoin continues to commerce contained in the bearish value channel after the capitulation witnessed over the previous two months. The cryptocurrency is at present battling to remain above $20,000 after dipping as little as $17,600 earlier within the week. With BTC/USD seeing a 2% drop this week, some altcoins are outperforming the primary ranked cryptocurrency.
Right now, we are going to take a look at Uniswap (UNI), Polygon (MATIC), Shiba Inu (SHIB), and Litecoin (LTC) and see the place they may be heading this week.
Uniswap Value Evaluation
UNI/USD is up by a really robust 37% this week because the cryptocurrency rebounded from a low of $3.36 to interrupt again above $5.00 and attain the present $5.40 stage. As well as, the current value hike has allowed UNI to interrupt a two-month falling development line and climb again above the 21-day and 50-day MA ranges.
If UNI can proceed the bullish stress, it’d turn into one of many first top-ranked cash to climb again above the June 2022 highs. Sadly, regardless of this week’s robust efficiency, UNI continues to be down by a complete of 88% from its all-time excessive value of $44.93. It’s at present ranked within the nineteenth place, holding a $3.97 billion market cap.
Picture supply: TradingView
Quick-term development: Bullish above $5.86 (June highs)
Wanting forward, the primary resistance lies at $5.50, supplied by a bearish .236 Fib Retracement. That is instantly adopted by resistance at $5.86 (June 2022 highs) and $6. If the patrons proceed past $6, further resistance is positioned at $6.40 (1.272 Fib Extension), $6.86 (bearish .382 Fib Retracement), and $7.22 (1.618 Fib Extension & 100-day MA).
On the opposite aspect, the primary stage of help lies at $5.15 (50-day MA). That is adopted by help at $5, $4.60 (November 2020 resistance), $4.00, and $3.70.
The RSI not too long ago climbed again above the midline for the primary time since early April, indicating that the patrons are in command of the market momentum.
Sustain-to-date with all the most recent UNI price predictions.
Polygon Value Evaluation
MATIC/USD is up by a strong 32% this week because the cryptocurrency lastly breaks again above $0.5. The cryptocurrency dropped as little as $0.325 earlier within the week, the place it discovered help at a draw back 1.618 Fib Extension. Nonetheless, MATIC has since rebounded from this low because it overcame $0.5 as we speak and reached the 21-day MA stage.
Regardless of the current progress, MATIC continues to be down 82% from its all-time excessive value of $2.91. It’s at present ranked within the twenty seventh place because it holds a $2.55 billion market cap worth.
Picture supply: TradingView
Quick-term development: Bullish above $0.7 (June 2022 highs)
MATIC is at present testing the primary resistance stage at $0.52, supplied by a bearish .236 Fib Retracement and the 21-day MA. Above this, further resistance lies at $0.622 (July 2021 lows), $0.686 (July 2021 low-day closing value), and 0.7.
Additional resistance is discovered at $0.75 (bearish .5 Fib), $0.852 (bearish .618 Fib), and $0.8.
On the opposite aspect, the primary stage of help lies at $0.5. That is adopted by help at $0.463, $0.4, and $0.325 (draw back 1.618 Fib Extension).
The RSI not too long ago climbed to the midline, indicating that the bearish momentum has deceased out there. Nonetheless, it might want to climb above the midline for some bullish motion to persist.
Sustain-to-date with all the most recent MATIC price predictions.
Shiba Inu Value Evaluation
SHIB/USD noticed an epic 24% value surge this week, permitting the cryptocurrency to rebound from $0.00000750 and break again above $0.00001. The coin dropped to $0.00000750 earlier within the month however managed to carry the help there supplied by a draw back 1.414 Fib Extension.
This week’s value surge allowed SHIB to interrupt above a descending development line and hit resistance at $0.00001077, supplied by a bearish .236 Fib Retracement. Sadly, it struggled to interrupt this stage over the previous two days and continues to be but to interrupt this resistance.
SHIB continues to be down 89% from its all-time excessive value and is now ranked within the fifteenth place with a $5.52 billion market cap worth.
Picture supply: TradingView
Quick-term development: Bullish above $0.000012 (June highs)
The primary stage of robust resistance lies at $0.00001070. This stage supported the market throughout Could and is now appearing as resistance. Above this, resistance is anticipated at $0.0000115 (50-day MA), $0.00001290 (bearish .382 Fib Retracement), and $0.000011465 (bearish .5 Fib Retracement).
On the opposite aspect, help is first positioned at $0.00001. That is adopted by $0.000009, $0.000008, and $0.0000075.
The RSI is trying to interrupt again above the midline because the patrons attempt to regain management of the market momentum.
Sustain-to-date with all the most recent SHIB price predictions.
Litecoin Value Evaluation
LTC/USD noticed an epic 21% value hike this week, permitting the cryptocurrency to interrupt again above $50 and take a look at resistance at $56.50 (bearish .236 Fib Retracement). As well as, the coin has recovered from the lows at $40, seen earlier within the month, the place LTC discovered help at a draw back 1.618 Fib Extension.
LTC continues to be 85% off of its all-time excessive value and is at present ranked within the twentieth place with a $3.85 billion market cap worth.
Picture supply: TradingView
Quick-term development: Bullish above $70 (June highs)
Wanting forward, the primary stage of resistance is anticipated at $56.50 (bearish .236 Fib). That is adopted by resistance at $60, $65 (50-day MA), $66.25 (bearish .382 Fib), and $70 (June 2022 highs).
On the opposite aspect, the primary help lies at $50. That is adopted by $47, $45, and $40.80 (draw back 1.618 Fib Extension). If the sellers push LTC beneath $40, added help lies at $35 and $33.85 (draw back 1.414 Fib Extension – inexperienced).
The RSI is climbing larger, indicating that the bearish momentum is reducing. Nonetheless, it nonetheless wants to interrupt the midline for the bulls to take management of the market.
Sustain-to-date with all the most recent LTC price predictions.
