A cryptocurrency expert draws attention to the accumulation on 3 altcoins. Crypto analyst Victor Olanrewaju says that it is possible for AAVE to retest $100. He states that PEPE could hold strongly up to $0.000001. Finally, he predicts that UNI has the potential to reach $6.
Accumulation is increasing for these 3 altcoins: AAVE, PEPE and UNI
cryptokoin.comAs you follow from , the positive atmosphere in the market is getting stronger. Meanwhile, the trio of Aave (AAVE), Pepe (PEPE) and Uniswap (UNI) have taken their place among the best altcoin projects purchased on the exchanges in recent days. ‘hitesh.eth’, a crypto research expert, shared this data through account X. According to the expert, PEPE had a net flow of $4.74 million. AAVE has a net flow of $3.2 million and UNI has a net flow of $2.64 million.
CEX net flow measures the difference between stock market inflow and outflow. A positive net flow means there are more savings than sales. On the other hand, a negative value of the metric indicates that tokens are abandoned more often than they are purchased. The analyst states that there is more accumulation for these 3 altcoins (AAVE, PEPE and UNI). Typically, accumulation means the market is preparing for an uptrend. Additionally, if buying pressure intensifies, it is possible that it will positively affect the price movement.
Analyst looks at AAVE first
The daily chart of the altcoin price showed inconsistencies in price movement. AAVE’s trading price at the time of writing was $97.97. This value represents an increase of 52.13% over the last 30 days. However, amidst this rise, there has been some downward movement in the token. For example, AAVE fell from $92.17 to $89.01 on November 2. Fast forward to November 10th, and the token was rejected at $100.84. However, the rejection of AAVE around the price above does not confirm that the price will continue to fall. In fact, looking at the Exponential Moving Average (EMA) appears otherwise.
As of this writing, the 20 EMA (blue) was above the 50 EMA (yellow). This trend is considered bullish. If the accumulation continues, it is possible for the altcoin price to rise above $100 in a short time.
Popular meme coin PEPE is also on the watch list
Next on the list is PEPE, whose price action has been bullish for most of the last seven days. At the time of writing, PEPE was changing hands at $0.000001. Additionally, the Relative Strength Index (RSI) was at 65.71. The RSI value shows that there are still many buy orders for PEPE. If the buying momentum continues, it is possible for the altcoin price to rise well above $0.000001. The widening of the Bollinger Bands (BB) also indicates that significant price fluctuations are likely to occur in the upward direction.
However, investors need to pay attention to the 70.00 RSI value for the altcoin. If the RSI reaches the point mentioned above, it may be time to exit long positions opened by traders.
The last ranked altcoin is Uniswap (UNI)
For UNI, the Moving Average Convergence Divergence (MACD) showed that the value could move much higher at $5.27. This is because the 12-day EMA (blue) has crossed above the 26-day EMA (orange). This trend indicates that upward momentum is increasing. Therefore, it is possible for market players to stay away from opening short positions for the main period. The projection is also confirmed by the Awesome Oscillator (AO), which has a value of 0.71 at press time. If the MACD and AO continue the upward move, the altcoin price has a chance to reach $5.50.
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