Uniswap moved into the crypto top 20 on Wednesday, relegating MATIC, after surging by over 10% today. UNI has now gained for four straight sessions, as it approaches a key resistance point. SHIB was once again higher today, with prices hitting their highest point since May.
UNI was trading higher for a fourth consecutive session on Wednesday, as the token broke into the top 20.
Following a low of $4.43 on Tuesday, UNI climbed higher today, hitting an intraday peak of $5.14.
This move saw the world’s 19th largest cryptocurrency move closer to its long-term resistance level at $5.20.
As a result of this recent surge in price, the 14-day RSI has climbed to its highest point since April 5, hitting a ceiling of its own.
Looking at the chart, this ceiling appears to be the 53.60 point, which hasn’t been broken in over three months.
Should we see a move beyond this point, it is likely that UNI bulls could attempt to take the price to an even higher price ceiling of $5.80.
Shiba Inu (SHIB)
SHIB extended its own gains on Wednesday, as prices climbed to their highest levels since May earlier in the day.
The so-called meme coin hit an intraday high of $0.00001182 in today’s session, which is its highest point since May 31.
After yesterday’s rally, we questioned whether the token could reach its resistance point of $0.00001150, however bulls have broken through this zone.
However, following the breakout of this ceiling, we have seen a slip in momentum, with price now trading at $0.00001021.
Overall, SHIB/USD is still nearly 8% higher than yesterday’s peak, with bulls likely to attempt to push prices even further.
If they do manage to maintain this recent momentum, the $0.00001300 resistance will likely be their next point of interest.
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Will we see SHIB continue to climb in the coming days? Let us know your thoughts in the comments.
Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.
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Uniswap moved into the crypto top 20 on Wednesday, relegating MATIC, after surging by over 10% today. UNI has now gained for four straight sessions, as it approaches a key resistance point. SHIB was once again higher today, with prices hitting their highest point since May. Uniswap (UNI) UNI was trading higher for a fourth […]