What’s Next for These Altcoins: ETH, DOGE, UNI, DOT, and VET?

With Bitcoin (BTC) struggling to revisit its all-time high, there is speculation that altcoins might soon outperform the number one cryptocurrency. However, altcoins themselves have found it difficult to maintain a consistent uptrend.

As a result of these movements, the total crypto market cap fell to $2.63 trillion. Hence, Coin Edition examines five altcoins with the potential to trigger a rise in the market cap. How will prices perform in the short term?

ETH

According to the 4-hour chart, bears have not allowed bulls a clear path to drive ETH’s price higher. As a result, the price moved in circles between $3,479 and $3,732. However, the Chaikin Money Flow (CMF) remained positive, indicating a spike in the price remains an option.

To validate this potential, significant liquidity has to flow into ETH. Should this be the case, the value of the altcoin might exceed $4,000 in the short term.

ETH/USD 4-Hour Chart (Source: TradingView)

On the other hand, the Bollinger Bands (BB) revealed decreasing volatility, meaning that the highly bullish bias might be neutralized. From the BB’s end, ETH’s bullish projection was $3,651, while the bearish forecast could be around $3,439.

DOGE

Despite the bullish predictions DOGE had, the coin has not hit the previous high it reached in March. At press time, DOGE changed hands at $0.19. But this region has proven to have stubborn resistance, hindering the upswing.

Meanwhile, press time data showed that the RSI reading had improved, indicating buying momentum. If bulls can sustain this movement, then Dogecoin could be set to jump toward $0.22.

However, the Awesome Oscillator (AO) showed that there could be some constraints with this forecast. This was because the AO was negative, indicating a possible downturn for the coin. With this, DOGE might end up swinging between $0.18 and $0.20 for the time being.

DOGE/USD 4-Hour Chart (Source: TradingView)

UNI

UNI’s price has been affected by a recent regulatory issue. On April 10, the U.S. SEC warned Uniswap Labs, the firm behind the governance token, that it could file a lawsuit against it.

As of this writing, UNI’s price was $9.10. Furthermore, the Money Flow Index (MFI) was down to 6.61, suggesting that the token was oversold. In this state, UNI’s could be set to bounce, as any sign of buying pressure could fuel a rally.

As it stands, UNI could rise toward the $10.49 support in the short term. However, it could be difficult to key into the $11.83 resistance in the short term.

UNI/USD 4-Hour Chart (Source: TradingView)

DOT

According to the DOT/USD 4-hour chart, bears had tugged the price down from its initial hike of $9.05. At press time, DOT’s price was 8.41. However, the Exponential Moving Average (EMA) suggested a bearish thesis for the token.

At press time, the 9 EMA (blue) had crossed below the 20 EMA (orange), reinforcing the notion that the price could continue to tumble. In a highly bearish scenario, DOT could drop below $8. Conversely, a bullish return could drive the value toward $9.10.

DOT/USD 4-Hour Chart (Source: TradingView)

VET

As of this writing, bears dominated the VET/USD 4-hour chart, indicating how tough it was for the altcoins to maintain an uptrend. Despite that, the AO showed that bulls were making attempts to control the token’s path, as the reading was positive.

Should the momentum increase upwards, VET’s price could revisit $0.052 within the next few days.

VET/USD 4-Hour Chart (Source: TradingView)

However, this could be invalidated if the 12 and 26 EMAs on the MACD continue to follow the same path. For the time being, VET’s price might either climb with bulls’ support or fall to $0.043 if sellers overthrow buyers.