Biggest Movers: DOT Hits 12-Day High, UNI up for Fourth Straight Day
Polkadot rose to its highest level in nearly two weeks on Dec. 2, despite cryptocurrency markets sliding following the latest nonfarm payrolls report. The global crypto market cap is down 0.57% as of writing, as prices consolidated following the data being released. Uniswap was also higher, despite the turbulent sentiment on Friday. Polkadot (DOT)
Polkadot (DOT) moved to a 12-day high on Friday, as the token rallied, despite crypto markets being mostly lower in the day.
Following a low of $5.34 on Thursday, DOT/USD surged to an intraday high of $5.63 earlier in today’s session.
As a result of today’s gains, DOT moved to its highest point since Nov. 20, when the token was trading at a high of $5.65. DOT/USD – Daily Chart
Looking at the chart, this point has also acted as a resistance level in recent times, and as of writing price is hovering below this mark.
In addition to the aforementioned price ceiling, the 14-day relative strength index (RSI) is also hovering close to a resistance point of its own.
The index is tracking at 49.87, which is marginally below a ceiling at the 50.00 level. Should it move past this point, we may then see prices head closer to $6.00. Uniswap (UNI)
Uniswap (UNI) was another notable gainer on Friday, as prices rose for a fourth straight day.
UNI/USD raced to a peak of $6.02 earlier in the day, which comes less than 24 hours after falling to a bottom of $5.73.
This move sees uniswap edge closer to a recent high of $6.40, which was last hit on Nov. 16. UNI/USD – Daily Chart
As a result of these recent gains, UNI is now almost 11% higher in the last seven days, with the RSI tracking near a one-month peak.
The index is currently at 53.25, which is its strongest point since Nov. 6, and this comes as the moving averages of 10-days (red) and 25-days (blue) look set for an upwards crossover.
Should this occur, we will likely see UNI bulls target a resistance level of $6.50.
Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, DOT, Polkadot, UNI, uniswap
Could we see uniswap hit the $6.50 mark this weekend? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH, BTC Higher Following US Nonfarm Payrolls Report MARKET UPDATES | 10 hours ago Markets Spike After Fed Chair Says It ‘Makes Sense to Moderate the Pace’ of Rate Hikes, Hints Easing Could Happen in December MARKET UPDATES | 2 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleUS Trustee Plans to Appoint an Examiner to FTX Case, While SBF Describes Strange Margin Trading Practices Next articleMEXC’s Changing for You | The 1st Exchange to Launch a Zero Maker Fee Event for Futures Orders Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40% Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design