Polkadot, Uniswap, VeChain Value Evaluation: June eighth – AMBCrypto Information
The market experienced a significant slump on June 7th that weighed on every coin. Bitcoin fell 9.75% and its total market cap fell 10.46%, losing over $ 171 billion in 12 hours. This was also the case with Altcoins, specifically Polkadot which lost 15.2%, Uniswap 14.4% and the price of VeChain fell 17%.
Speckle [ DOT ] : –
Polkadot is trading at $ 21.03 and is approaching its support level of $ 18.78. DOT has been consistently negative in its performance since June 4th. Relative Strength Index (RSI) moved along the neutral line until today the indicator was spotted in the oversold area due to high selling pressure.
Even Simple moving averages – 50 SMA (orange) and 100 SMA (red) changed positions on resistance from support as both indicators were placed above the candles. According to Squeeze momentum indicator, the market was in a ‘squeeze release’ at the moment. This indicated that the decline could continue for a while as the bright red bars indicated rising downward pressure.
If the price makes a quick comeback, this could save the coin from falling below $ 18.78, otherwise $ 15.90 will serve as the next support level.
Uniswap [ UNI ] : –
The decline over the past 24 hours broke the small uptrend Uniswap had hit and brought the price down to $ 23.26. As the coin was $ 1.1 away from reaching support levels at press time. MACD The indicator showed clear signs of a bearish crossover as the blue indicator line fell below the red signal line.
Bollinger bands diverging significantly at the time of writing and exhibiting in-depth volatility. Although below the 25.0 mark that Average direction index (ADX) could go up and if the indicator crosses the neutral line the downtrend could gain momentum.
If UNI recovers soon it will stay below the $ 29.93 resistance level. Should the coin fall through the active support level, the next support will be pegged at $ 18.63.
VeChain [ VET ] : –
The VET had risen towards its $ 0.14 resistance level and there was a chance the coin could exceed it. However, at the time of writing, the coin was trading at a low of $ 0.109, very close to the $ 0.09 support level. Parabolic SAR showed a strong downtrend for a while as the white dotted line was above and far from the candlesticks.
Capital outflows have remained consistently strong for the past three days, so Chaikin money flow, and even at the time of writing the indicator was well below the neutral line. Great oscillator showed similar moves as the appearance of red bars on the indicator indicated an increase in the bearish momentum.
While the price indicator is close to the support level, it is still far from the base level of $ 0.07. Vocational training needs even stronger negative indicators in order to continue to fall under it.
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