While many await a potential Bitcoin exchange-traded fund (ETF) approval this week, Uniswap (UNI), VeChain (VET), SUSHI, Polygon (MATIC), and BAND are some of the coin projects ready to rally. At least that’s according to analyst Lisa Walter.
Watch out for VET coin and UNI
According to CoinMarketCap data, UNI changed hands at $6.41 at the time of writing. The value of alt increased by 5% in the last 24 hours. The altcoin price evaluated on the weekly chart showed stable accumulation among spot market participants. Observed data from key momentum indicators showed that buying pressure exceeded token sales. For example, UNI’s Relative Strength Index (RSI) was 56.31 and its Money Flow Index (MFI) was 83.78. At these values, indicators showed that buying momentum was higher than selling pressure. If the sensitivity continues, the price of UNI is expected to rise this week.
On the other hand, overall market consolidation has resulted in a 14% decline in VET coin value, while on the weekly chart, the bulls continue to have a tight grip on the market. According to the Directional Movement Index (DMI), the positive directional index (green) was above 32.72 and the negative directional index (red) was above 13.75. When these lines are positioned this way, it means that the downward forces in the market are relatively weak compared to the forces behind the upward trend.
SUSHI and MATIC are also on the watch list
There has been a 2% increase in the value of SUSHI in the last 24 hours. At the time of this writing, the altcoin changed hands at $1.08. Also seeing an increase in demand, Exchange Volume was at 1.60 billion at the time of writing and has been showing a steady increase since the end of October. The MACD line was seen above the trend line, confirming the existence of a bullish trend in the market. This type of transition showed that the market is mostly influenced by bullish sentiment, which if continued could cause the token price to rise.
On the other hand, MATIC witnessed a 4% price increase in the last 24 hours. According to CoinMarketCap data, the altcoin was sold for $ 0.84 as of the time this article was written. Chaikin Money Flow (CMF), evaluated on a seven-day chart, showed a steady influx of liquidity into the market. At 0.06 and in an upward trend, MATIC’s CMF indicated the existence of the necessary capital inflow to increase its price.
Last coin on the list: BAND
According to the analyst, BAND’s Awesome Oscillator has returned only upward pointing green histogram bars since the beginning of the year. This indicator measures an asset’s momentum and potential trend reversals. When it shows green bars pointing upwards, this usually indicates a bullish signal and indicates that the price of the asset will likely increase. Concluding the article, it is worth noting that these are only analyst opinions. Investors should make their investments in line with their own research.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.