<a href="https://en.coin-turk.com/analyst-bitcoins-price-movement-today-and-tomorrow-is-crucial/”>BTC has recently surpassed $37,800 and continues its upward trend. This is positive following the last resistance test. For altcoins to reach new highs, the king cryptocurrency needs to maintain $38,000 as support. Which altcoin is targeting $7.6 and beyond?
UNI Coin Commentary
Over the past week, as BTC prices hit new highs, UNI Coin price successfully overcame the 480-day resistance area. RSI had formed a bullish divergence prior to this movement, and investors who followed this leading signal were not disappointed. Popular cryptocurrency analyst Rekt Capital suggests that the price could see new peaks following a long-term breakout. In his latest market assessment, he wrote:
“Uniswap is on the verge of breaking out from this macro market structure. It needs to break the top of this pattern and reclaim it as support to enter a new macro uptrend”.
JJCycles also mentioned that the long-term uptrend has already started and UNI Coin investors can expect higher peaks. On the other hand, Uniswap volume data is impressively increasing.
A monthly transaction volume of $16.50 billion, reaching $16.62 billion, is the highest since April. Moreover, as November has not yet ended, it is likely that this month will surpass April and become the most active month of the year.
Furthermore, with a more than 20% increase in volume over the past 24 hours, reaching $713 million, the current momentum seems likely to pave the way for new peaks in December.
UNI Price Prediction
The weekly chart shows a clear uptrend, and daily confirmation is needed. However, as the BTC price unexpectedly surpassed $38,100 at the time of writing, a return to an uptrend in the daily chart is likely.
According to Elliott wave counting, a five-wave upward movement is complete. This indicates that if strong demand does not lead to new peaks, a price correction could occur. If the daily technical reading is supported by a possible BTC decline, the $4.85 level could be tested.
However, if BTC continues to rise and UNI Coin aims for new peaks, closures above the highest level of November 24th at $6.60 could invalidate the decline scenario. This could lead to a strong rally towards $7.6.
- Bitcoin steadies, altcoins eye peaks.
- UNI Coin outperforms, analysts optimistic.
- Price predictions suggest further gains.
