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Price Analysis: Top 3 Coins To Watch From April 26th - UNI, ALICE, & QTUM- Where Are They Heading?

source-logo  coincodex.com 28 April 2021 09:28, UTC

After a fortnight of negative pressure, Bitcoin finally managed to reverse and rebound back above the $50,000 level at the start of this week. This rebound has brought new life into the cryptocurrency industry and has started to help a lot of altcoins to also start a recovery this week. Some of them have even managed to go on and create new ATH prices.

Yesterday, we released the top altcoins to watch for the week. These included Uniswap (UNI), My Neighbour Alice (ALICE), and Qtum (QTUM):

To find out why we picked these projects in a little more detail, look at the article here.

In this analysis, I would like to cover these three coins to help provide some support and resistance you might expect to move forward.

Uniswap Price Analysis

What has been going on?

UNI is up by a strong 41.8% over the past month of trading as the cryptocurrency breaks resistance at $40 to set a new ATH today at $42. The cryptocurrency is trading inside an ascending price channel and has been inside this since the beginning of February.

At the start of April, UNI was trading at around $27.50 as it started to push higher. It managed to reach $37.50 by the middle of the month but dropped lower from there until support was found at the lower boundary of the ascending price channel.

At the start of this week, UNI pushed higher from the lower boundary of this price channel and started to surge by a total of 24% to reach the ATH today.

UNI has been surging quite significantly after the announcement was made that they plan to upgrade to Uniswap V3 by May 5th. We can expect further price increases as the network upgrade continues to approach.

UNI price short term prediction: Bullish

UNI is considered strongly bullish right now. The cryptocurrency would need to drop beneath the support at $30 to turn neutral and would have to continue further beneath $23.50 (.5 Fib Retracement) before being in danger of turning bearish.

If the sellers do push back beneath $40, the first level of support lies at $38 (.236 Fib Retracement). This is followed by support at $35.68 (.5 Fib Retracement), $31.67 (.382 Fib Retracement), and $30.

Where is the resistance toward the upside?

On the other side, the first level of resistance lies at the ATH price of $42. Above this, resistance is found at $42.50, $43.87 (1.414 Fib Extension), $45.50, and $47.94 (short term 1.414 Fib Extension - purple).

Above this, additional resistance lies at $49.20 (1.618 Fib Extension - blue), $50, $50.96 (short term 1.618 Fib Extension - purple), $52.50, and $54.

My Neighbour Alice (ALICE) Price Analysis

What has been going on?

ALICE only started to trade in March 2021 but has managed to gather almost a $180 million market cap value in the short space of time. The cryptocurrency is down by around 17% over the past month but has started to rebound this week after being able to recover 13% of the previous losses.

The 4HR chart above shows the extended downtrend that ALICE has faced since launching on Binance. The coin dropped as low as $6.12 (downside 1.272 Fib Extension) last week and has since rebounded higher.

Today, it is currently testing resistance at $10.70 which is provided by a bearish .382 Fib Retracement level. It has dropped slightly from there but also has short term support at an ascending trend line.

ALICE is ranked in the 240th position with its $180 million market cap.

ALICE price short term prediction: Neutral

ALICE has to be considered neutral right now. THe cryptocurrency would need to break the April highs around $16 before being able to be considered as bullish again. A drop beneath $6.12 is likely to turn the market bearish.

If the sellers do push lower the first support lies at $9. This is followed by $8, $7.50, $7, and $6.12 (downside 1.272 Fib Extension). Beneath $6, added support lies at $5.50 and $5.10.

Where is the resistance toward the upside?

On the other side, the first resistance lies at $10.70 (bearish .382 Fib Retracement). This is followed by resistance at the falling trend line, $12.10 (bearish .5 )Fib Retracement, $13.52 (bearish .618 Fib Retracement), $14, and $15.50 (bearish .786 Fib Retracement).

Additional resistance lies at $16, $18.11, $20, and $20.75.

Qtum (QTUM) Price Analysis

What has been going on?

QTUM might be down by a total of 16% over the past week but the cryptocurrency is still up by a strong 70% over the past month. The coin started trading at around $10 at the beginning of April and it went on to set a new ATH above $20 during the month.

More specifically, it failed to close a daily candle above $18.50 and started to head lower over the past fortnight. Luckily, it managed to find support at $11.43 (.5 Fib Retracement) and has since rebounded from there.

QTUM price short term prediction: Bullish

QTUM remains bullish right now but must break $18 for the bull run to continue. A break beneath $9.80 (.618 Fib Retracement) would turn the market neutral and a further drop beneath $8.00 would turn it bearish.

If the sellers push lower, the first level of support lies at $13 (.382 Fib Retracement). This is allowed by support at $12, $11.43 (.5 Fib Retracement), $11, and $9.80 (.618 )Fib Retracement.

Where is the resistance toward the upside?

On the other side, the first resistance lies at $15.10. This is followed by resistance at $16, $17, $18.20, $19, and $20. Beyond $20, resistance lies at $20.33, $21.55, $22, $23.27, and $24.

Previous Technical Analysis

At CoinCodex, we regularly publish price analysis articles focused on the top cryptocurrencies. Here's 3 of our most recent technical analysis articles:

  • Fantom Price Analysis - FTM Starts To See Some Buying Pressure After Go-Opera Upgrade Makes It The Fastest Blockchain In History (Neutral)
  • Bitcoin Sees Recovery After Finding Support At 100-days EMA - Will It Head Back Above $60,000 This Week? (Neutral)
  • Polygon Price Analysis - MATIC Surges To ATH Against BTC As Aave Integration Tops $1 Billion (Bullish)
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