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Uniswap (UNI) and Loopring (LRC) Technical Analysis: Buyers Turning the Screw?

cryptoknowmics.com 14 October 2021 11:07, UTC
Reading time: ~2 m

Uniswap and Loopring prices are capped to selling patterns. However, UNI may race to $27, and LRC shakes off bears by blasting past $0.43.

Uniswap (UNI)

The DEX is the world's largest operating on Ethereum blockchain, using UNI for governance.

Past Performance of UNI

At the time of press, the Uniswap crypto is stable. However, the close of October 13 is with high selling pressure, as the long upper wick suggests.

Day-Ahead and What to Expect

Technically, UNI token traders have the upper hand, reading from the UNI technical analysis in the daily chart.

UNI/USDT prices are in range within a $5 level with caps at $27 and $22, respectively.

In the short term, how UNI coin prices react at $22 would determine whether bears will flow back.

On the reverse side, an encouraging expansion beyond the October 13 trade range may be the building blocks for $27 and even $30 in the short term.

Uniswap Technical Analysis

Overall, Uniswap buyers are in control.

At present, UNI token prices have support at around the 61.8 percent Fibonacci retracement level of the recent swing high and low.

Aforementioned, a close above $27 confirms buyers of early Q3 2021, setting the base for a surge towards $30 and later $45.

On the flip side, losses below $22 may see UNI/USDT contract to $18.

Loopring (LRC)

The layer-2 exchange Loopring rides on Ethereum blockchain using LRC as the primary token.

Past Performance of LRC

The Loopring token is in a sideways movement, but buyers have the upper hand.

How LRC token prices react at $0.43 and $0.35 would define the short to medium-term price trajectory.

Presently, the LRC coin is stable against the greenback, adding five percent.

Day-Ahead and What to Expect

The uptrend is set, as the LRC crypto analysis reveals.

However, the current sideways movement could prove to be an accumulation if LRC prices shoot above $0.43.

This will be in continuation of the primary trend as buyers aim for $0.90.

Conversely, losses below $0.35 could trigger a sell-off towards $0.20.

Loopring Technical Analysis

From the daily chart, buyers have the upper hand, though within a bear breakout pattern.

A close above $0.43 and the middle BB could be the beginning of lift-off to $0.90 more if the surge has high trading volumes.

The odds of this printing out are high now that LRC/USDT has support at the 78.6 percent Fibonacci retracement level of the July to September 2021 range.

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