Jakarta, Pintu News – Chainlink (LINK) and Uniswap (UNI) are currently showing very similar price movement patterns. Both are attempting to continue their recovery within an upward channel after previously experiencing a long downward trend. As general crypto market conditions begin to stabilize, these two altcoins have also begun to show strength approaching important resistance areas.
With LINK and UNI still holding above crucial support levels and continuing to form higher lows, market participants are now looking at breakout opportunities. The main question is whether the prices of LINK and UNI can sustain this structure and accelerate towards the $10 level in the second quarter.
Chainlink’s price is currently moving within a rising channel after a sharp decline earlier this year, which suggests a gradual recovery phase. Currently, the price is holding in the range of $8.5-$8.8, which now serves as the immediate support area, while the structure continues to form higher lows.
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The next major resistance is around $10, followed by a stronger supply area around $12. If the price manages to break the channel resistance, the upward momentum could potentially pick up and push the movement towards these levels. In terms of indicators, the DMI is heading towards a bullish crossover, while the CMF is trying to recover from the negative area, which indicates an improvement in capital inflows. Even so, the momentum is still moderate, so a confirmed breakout is still needed to continue the uptrend.
Important Levels
Uniswap price is showing a similar structure, moving within a rising channel while trying to recover from its latest low. Currently, the price is at around $3.5, still holding above the lower boundary of the channel and starting to form a base area of movement.
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The nearest resistance is around $4, while the stronger resistance is at $5.6. If the price is able to break out of these areas, the chances of reaching higher targets in the next few weeks will become more likely.
In terms of indicators, DMI, like on LINK, is heading towards a bullish crossover, while CMF is still slightly in the negative area but starting to approach the neutral threshold. This condition makes UNI’s momentum still slightly weaker than LINK, although buying pressure is starting to increase.
Important Levels
Both Chainlink and Uniswap have started to show early signs of recovery, with ascending channel patterns indicating a potential continuation of the uptrend. In the short term, these structures are still positive as long as key support levels are maintained.
However, the path to $10 will be very different for each asset. The price of LINK looks closer to that target and could potentially reach it if it manages to break the nearby resistance. In contrast, the UNI price still needs some additional breakout confirmation before it has a chance to approach the same level.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.
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