The crypto money market started the day in the green area. At the time of writing, all cryptocurrencies in the top 20 experienced a slight rise for some. So what is the situation with the most curious and popular crypto currencies of recent times? We compiled the status of Chainlink (LINK), Ripple (XRP), Uniswap (UNI) from analysis.
LINK has been in decline since hitting its all-time high. In fact, this fall of LINK has put oil in the hands of those who stand against the crypto currency. But the leading DeFi token has begun to signal a little bullishness. The cryptocurrency was trading at $ 9.85 at the time of writing. LINK had dropped as low as $ 7 the previous day. According to CoinMarketCap data, it has increased by about 20% in the last 24 hours.
The cryptocurrency’s sluggish price action took a serious blow to its technical outlook, but the recovery from overnight lows can still be considered a long-term bottom. When talking about LINK’s strong response to $ 7.40, analyst Bitcoin Jack explained that this could indicate a trend reversal. Jack said:
“When your setup fails and the price starts to [move] where you don’t want it, then you are given the chance to come out at the breakeven point so I always thank you for a leap. On LINK the situation looks good to reverse. ”
XRP has finally shown a glimmer of hope to investors, analysts say. Since then, the cryptocurrency has once again hovered around $ 0.25 per token, which is roughly the average price for the whole of 2020. XRP was trading at $ 0.23 at the time of writing.
Ripple doesn’t seem to be going anywhere, according to analyst Tony Spilotro. The latest slowdown is currently potentially predicting a future storm, and unless weekly cloud support continues, XRP investors may be upset for a while longer.
UNI, the governance token of the Uniswap platform, has been seeing great turbulence since its launch. The situation surrounding the token, which was airdroped to all Uniswap users, sent the price of the crypto currency up to $ 8.50. When the token reached these highs, it lost momentum and returned to the $ 3.75 level.
Since this rejection and the sale, the bulls have fixed the price around $ 5.00 and buyers have had no more control over the short-term price action. UNI was trading at $ 5.33 at the time of writing. In the near term, the bulls should continue to guard against dips below the mid-$ 4.00 zone.