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POLKADOT AND UNISWAP - ALTCOIN CHART ANALYSIS

 


Polkadot (DOT) is currently in a small uptrend at around 29.00 USD. However, this does not show itself at its best and weakens a bit. We have little trading volume on the way up.


There is a strong resistance zone directly above us, which goes up to approx. 32.00 USD. Most recently, we made it briefly above the 200-SMA (last 200-average candle / purple) and the 200-EMA ribbon on the 4H chart, but have now fallen below again.


In order to get bullish again, it is important to confirm these two resistances mentioned above as support and to see a bounce with increasing trading volumes from here.


We do not see any bullish signs on the daily chart either. After we formed a bullish divergence in the RSI a few days ago, it has already played out and is therefore invalid.


The trading volume is also clearly flattening here and does not allow any bullish findings. First of all, the resistance zone has to be broken. This is best done impulsively.



Polkadot versus Bitcoin (DOT / BTC)

Polkadot versus Bitcoin, however, allows us a clearer picture. Here we last had a bounce on our uptrend on the daily chart, which has existed since the beginning of 2021 and has already served as support.


At the moment we are at approx. 0.00059 BTC and therefore exactly at the lowest EMA ribbon. This serves as a support for us. At the same time, we are in an important support zone that was recently recaptured.


Here, too, we have formed a bullish divergence on the RSI . This has also already played out. One possibility, as in August of this year, would be for us to come back into the area around 0.0005 BTC and form a double bottom pattern here .


Uniswap still has some problems leaving the downtrend. We already had an upward breakout yesterday, but are now consolidating on our downtrend and are unable to leave it upwards on an impulsive basis.


Right now we're at around $ 17.58. Here we see roughly the same thing as with Chainlink. The 200-SMA and the 200-EMA on the 4H chart stand in our way as strong resistance and must be broken.


The trading volume is clearly declining and could indicate a bigger move in the next few hours. So we should definitely keep an eye on these altcoins. The next major resistance at Uniswap would be around $ 21.70. In between, the course has some breathing space.



Uniswap versus Bitcoin (UNI / BTC)

Uniswap is still in a clear downtrend compared to Bitcoin. At this point we were finally rejected again. We are currently at approx. 0.000037 BTC.


One possibility would be for us to drop back into the 0.00003 BTC area and form a possible Inverse Head & Shoulders chart pattern. However, it is still too early for this and is only considered a theoretical possibility.


Neither the MACD nor the RSI give us any further bullish or bearish indicators. Here, too, the trading volume has been falling significantly for weeks. In order to become bullish, we have to confirm exit the downtrend.

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