APE hits 2-month high as UNI approaches highest point since April – Market Updates Bitcoin News
Apecoin rose to its highest point in over two months on hump day, as prices rebounded from a two-day losing streak. Uniswap was another big draw on Wednesday, as the token surged as much as 14%. Overall, the global crypto market cap is trading 2.79% higher at the time of writing.
Apecoin (APE)
Apecoin (APE) was one of the day’s notable tokens to rally, as global crypto markets were back in the green.
APE/USD snapped a two-day losing streak, as the cryptocurrency rose to an intraday high of $7.41 earlier in today’s session.
The move sees APE again breaking out of its long-term resistance level of $7.10, which has been held since May 25.
Wednesday’s high sees the token recapture those highs, with bulls now hoping to sustain this latest break, in contrast to last weekend’s moves.
At the time of writing, the relative strength index (RSI) is trading at 67.44, which is marginally below a resistance point of 68.
For the bullish momentum to continue for the rest of the week, we need to see the APE break out of this ceiling.
Uniswap (UNI)
Like APE, Uniswap (UNI) also rallied today, with prices nearing their highest point in over two months, following an earlier rally.
The token rallied nearly 14% during the hump day session, with prices rising to a high of $9.33 in the process.
This rally saw UNI/USD move towards last Thursday’s high of $9.85, which is the highest point the token has traded at since April 15th.
However, to recapture this high level, UNI needs to break out of a temporary resistance level at $9.40, which it has so far failed to achieve today.
After earlier highs, UNI is now trading at $9.08 as traders likely liquidated positions to secure gains.
This comes as the 14-day RSI has collided with a ceiling of its own at the 66 level, which likely sparked fears among earlier bulls.
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Do you expect unswap to overcome this hurdle in the coming days? Let us know your thoughts in the comments.
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