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Chainlink and Uniswap technical analysis suggest bulls. Accordingly, $UNI/$USDT and $LINK/$USDT prices may race to $58 and $54, respectively, in a buy trend continuation pattern set in motion by Q1 2021 gains.
Uniswap ($UNI)
A few protocols, including Uniswap, define Defi. Uniswap is synonymous with trustless trading. Its native token is $UNI, the subject of today’s review.
Past Performance of $UNI
From the $UNI technical analysis and candlestick arrangement, buyers are ecstatic and loading up the coin.
The $UNI/$USDT price is charting higher in the daily chart, adding 12 percent on the last day and pushing weekly gains to 24 percent.
It has outperformed $BTC and $ETH during the same period.
Days-Ahead and what to Expect
Solid fundamentals drive $UNI/$USDT.
As of writing, the $UNI/$USDT price is below $40 but within a $5 range with caps at $35 and $40.
Price action skirts at around 2021 highs with odds of a bullish breakout highly likely judging from candlestick arrangement and factoring in fundamental triggers.
Notably, trading volumes are surging higher in anticipation of a bullish breakout and race to new 2021 highs.
On the last day, $UNI’s liquidity is optimum at around $1.69 billion, decent liquidity.
$UNI/$USDT Price Forecast
The path of the least resistance is northwards.
$UNI bulls are in the driving seat.
In expectations of Uniswap v3, a close above $40 could trigger an influx of bulls driving $UNI/$USDT towards $58—the 1.618 Fibonacci extension level of the Q1 2021 trade range.
Chainlink ($LINK)
Chainlink is known for Oracles and making DeFi a reality. $LINK is the protocol’s primary token.
Past Performance of $LINK
Traders are optimistic about the token’s performance as we advance.
On the last trading day, the $LINK/$USDT price is within a $3 zone with intra-day support and resistance at $33 and $36, respectively.
At the same time, participation level—albeit a recovery and confidence, has tapered, shrinking six percent to $1 billion.
Day-Ahead and What to Expect
$LINK technical analysis suggests buyers and confidence.
As of writing, $LINK is trading at $35, adding four percent on the last day and marginal gains versus $BTC and $ETH.
Week-to-date, $LINK bulls are struggling with bears and haven’t pared losses as price action on the daily chart reveals.
$LINK/$USDT Technical Analysis
Overly, the crypto market is upbeat. However, zooming into the $LINK/$USDT chart, buyers haven’t comprehensively broken above key resistance levels.
A close above $35—Feb 2021 highs–may force aggressive $LINK traders into action.
Their immediate target would be Apr 2021 highs of $45 and later $54—the 1.618 Fibonacci extension level of the Q1 2021 trade range.