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Bitcoin (BTC) price suddenly surpassed $70,000 again, peaking at $70,479 at the time of writing. A continuation of the sudden drop or rise is possible. Since the US markets are closed today, we won’t see a trigger from the ETF channel. On the other hand, the European Central Bank announced that the first interest rate cut in June is confirmed (unless something major happens).
Uniswap Price Analysis
The ECB says it will cut rates, US inflation is falling, ETH ETF approval has arrived, and Bitcoin has surpassed $70,000 again. The latest developments are very positive for cryptocurrency investors. However, it should not be forgotten that crypto is always full of surprises.
So, if the BTC price increase continues or things turn around, what levels should investors pay attention to for UNI Coin? Due to the ETH ETF story, the UNI Coin price is heavily supported. This means that as the ETH price targets $4,000 at the time of writing, we could see more gains in the popular DeFi altcoin.
The UNI/USDT pair turned back from the general resistance of 11.81 on May 26 and has not yet reclaimed the key area. If this level is surpassed and closes above it, we could see the UNI Coin price moving towards $13.34 followed by $15.
Conversely, if the price drops and falls below $10, it is expected to bounce from $9.05.
Arbitrum (ARB) Coin Prediction
Ethereum ecosystem’s biggest players include Arbitrum. The ETF approval is also expected to have significant effects on the ARB Coin price. The massive total locked value on the network and the decreasing transaction fees in layer2 solutions increase hopes for Arbitrum’s long-term performance.
The general resistance of $1.27 is the main level to watch for further increases. If the price does not fall below $1.11 and closes above the resistance, the journey towards the peaks of $1.6 to $1.75 can continue. Contrary to the optimistic view, closes below $1.11 will bring a new wave of sales towards $0.9.
Although Bitcoin’s upward attempts are positive, the upcoming US economic growth and PCE data this week may cause short-term investors to avoid risk by midweek.
