Skip to main content

Biggest Movers: SOL Hits 1-Month Low on Saturday, as UNI Extends Recent Declines

Solana fell to a one-month low to start the weekend, as cryptocurrency markets moved lower ahead of Christmas Day. Today’s drop saw the token fall for a fourth straight session, as market sentiment shifted bearish. Uniswap was also in the red on Saturday, with price falling for a second consecutive day.

Solana (SOL)

Solana (SOL) was in the red on Saturday, as prices moved lower for a fourth straight session.

SOL/USD slipped to a low of $11.24 in today’s session, which comes less than a day after the token was trading at $11.95.

Today’s drop saw solana fall to its lowest point since November 22, when price hit a low of $10.94.

As can be seen from the chart, Saturday’s decline came as the 14-day relative strength index (RSI) broke out of a floor at 34.00.

The index is currently tracking at 31.79, with the next visible point of support at the 29.90 level.

Should the RSI continue to head to this point, it is likely that solana will fall below the $10.94 level, which was last seen four weeks ago.

Uniswap (UNI)

Uniswap (UNI) also moved lower to start the weekend, as the token extended a recent bear run.

Following a high of $5.32 on Friday, UNI/USD fell to an intraday low of $5.20 on Christmas Eve.

The move led to uniswap landing on its long-term point of support, with bears likely to force a breakout as the weekend matures.

As of writing, the token remains marginally above its $5.20 floor, and is currently trading at $5.22.

Should this floor be broken, a possible target for sellers will possibly be a floor at $4.95, which was last hit in late November.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect uniswap to fall below $5.00 this weekend? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/47Vkrfq
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more