HomeMARKET NEWSSandbox and Uniswap register gains after Bitcoin dips

Sandbox and Uniswap register gains after Bitcoin dips

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Uniswap and Sandbox both posted minor gains during press time. In the last 24 hours, Uniswap and Sandbox gained over 3%. Despite Bitcoin noting a small depreciation, many altcoins continued to remain positive at press time. The global cryptocurrency market cap today was at $1.8 Trillion after it dipped by 0.2% in the last 24 hours.

The last week or so, cryptocurrency market had seen extreme pangs of volatility. Sandbox gained more than 26% in the last week. Uniswap lost quite a bit of what it had gained, however, in the past seven days UNI had gained 1.7%.

Price Analysis: UNI/USD Four-Hour Chart

Uniswap was trading at $11.62, with immediate resistance at $14 and then at $16.28. The local support level for the coin stood at $9.67. The price of UNI was seen above the 20-SMA line, which meant that the coin was driven by buyers. In the last week, price of UNI was oscillating between $11.62 and $9.67. Technical outlook for the coin was positive at the time of writing.

The Relative Strength Index was seen above the half-line. This reading indicated that buying pressure shot up in the market, over the past week, RSI had struggled to rise over the mid-line. The Directional Movement Index was also positive as the +DI was seen over the -DI line, the ADX was seen below the 20 mark which signaled towards a dipping strength of the current market trend.

Chaikin Money Flow was seen above the zero-line, which meant that capital inflows increased as capital outflows decreased at the time of writing.

Price Analysis: SAND/USD Four-Hour Chart

Sandbox was priced at $3.90 with overhead price ceiling at $3.99. Other price resistance marks stood at $5.13 and then at $6.87. Local support level for the coin was at $2.65. The coin was seen trading over the 20-SMA which meant that price momentum was driven by buyers at the time of writing. Technicals on the chart indicated positive price action at press time.

On Balance Volume remained consistent which meant that the coin had witnessed buying pressure over the last couple of weeks. The Relative Strength Index have gone up in an ascending channel and was parked above the half-line indicating strength in buying.

The Directional Movement Index was positive as the +DI line was seen above the -DI line. ADX was seen climbing up, which meant that the the trend was gaining strength at the time of writing.

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